111 Capital Makes New Investment in Consolidated Edison Inc $ED

Key Points

• 111 Capital has made a new investment in Consolidated Edison Inc, acquiring 17,630 shares valued at approximately $1,769,000 during the second quarter.
• Various hedge funds, including Vanguard and Deutsche Bank, have increased their stakes in Consolidated Edison, with institutional investors now owning 66.29% of the company's stock.
• Consolidated Edison reported earnings of $0.67 EPS for the last quarter, surpassing estimates, and recently declared a quarterly dividend of $0.85 per share, representing a 3.4% yield.

111 Capital acquired a new position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,630 shares of the utilities provider's stock, valued at approximately $1,769,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Consolidated Edison by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 43,117,094 shares of the utilities provider's stock valued at $4,768,319,000 after purchasing an additional 661,432 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Consolidated Edison by 1.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,868,772 shares of the utilities provider's stock valued at $538,437,000 after purchasing an additional 48,323 shares during the period. Deutsche Bank AG lifted its position in Consolidated Edison by 130.6% during the 1st quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider's stock valued at $434,266,000 after purchasing an additional 2,223,959 shares during the period. JPMorgan Chase & Co. lifted its position in Consolidated Edison by 106.9% during the 1st quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider's stock valued at $308,643,000 after purchasing an additional 1,441,785 shares during the period. Finally, ATLAS Infrastructure Partners UK Ltd. acquired a new position in Consolidated Edison during the 1st quarter valued at about $254,205,000. Institutional investors own 66.29% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Weiss Ratings restated a "buy (b-)" rating on shares of Consolidated Edison in a research report on Saturday, September 27th. Barclays increased their price target on shares of Consolidated Edison from $101.00 to $107.00 and gave the company an "underweight" rating in a research report on Wednesday, August 13th. Scotiabank increased their price target on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a "sector perform" rating in a research report on Monday, August 11th. Bank of America downgraded shares of Consolidated Edison from a "buy" rating to an "underperform" rating and cut their price target for the company from $112.00 to $101.00 in a research report on Friday, August 15th. Finally, Morgan Stanley cut their price target on shares of Consolidated Edison from $95.00 to $93.00 and set an "underweight" rating on the stock in a research report on Thursday, September 25th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $105.91.

Consolidated Edison Stock Performance

Shares of ED stock opened at $98.83 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. The company has a market capitalization of $35.64 billion, a P/E ratio of 17.94, a price-to-earnings-growth ratio of 2.71 and a beta of 0.32. The company's 50 day moving average price is $99.95 and its two-hundred day moving average price is $103.29. Consolidated Edison Inc has a 52 week low of $87.28 and a 52 week high of $114.87.

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

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 3.4%. 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.

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