Mn Services Vermogensbeheer B.V. Boosts Stock Holdings in Consolidated Edison Inc $ED

Mn Services Vermogensbeheer B.V. boosted its position in Consolidated Edison Inc (NYSE:ED) by 7.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 134,700 shares of the utilities provider’s stock after purchasing an additional 9,800 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Consolidated Edison were worth $13,517,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ED. Alpine Bank Wealth Management purchased a new position in shares of Consolidated Edison during the 1st quarter valued at $32,000. Fort Vancouver Investment Management LLC purchased a new stake in Consolidated Edison during the first quarter valued at about $33,000. Financial Network Wealth Advisors LLC purchased a new stake in Consolidated Edison during the first quarter valued at about $33,000. Cary Street Partners Investment Advisory LLC lifted its holdings in Consolidated Edison by 64.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 120 shares during the last quarter. Finally, Wood Tarver Financial Group LLC purchased a new stake in shares of Consolidated Edison during the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Mizuho upped their price target on shares of Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Barclays increased their target price on Consolidated Edison from $101.00 to $107.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 13th. KeyCorp restated an “overweight” rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Morgan Stanley reissued an “underweight” rating on shares of Consolidated Edison in a report on Thursday, August 21st. Finally, Bank of America cut Consolidated Edison from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $112.00 to $101.00 in a report on Friday, August 15th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $105.82.

Consolidated Edison Trading Down 0.0%

Shares of ED stock opened at $96.38 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week high of $114.87. The company has a market capitalization of $34.76 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 2.68 and a beta of 0.28. The business’s fifty day moving average is $100.61 and its 200 day moving average is $103.74.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter last year, the business posted $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, equities research analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Wednesday, August 13th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Wednesday, August 13th. Consolidated Edison’s dividend payout ratio (DPR) is currently 61.71%.

About Consolidated Edison

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.