HBK Investments L P Purchases New Holdings in Consolidated Edison Inc $ED

Key Points

• HBK Investments L P has acquired 15,000 shares of Consolidated Edison Inc, valued at approximately $1,659,000, indicating a significant investment in the utilities provider.
• Consolidated Edison reported $0.67 earnings per share (EPS) for the last quarter, surpassing analysts' estimates of $0.66, along with a revenue of $3.60 billion.
• The company declared a quarterly dividend of $0.85, yielding 3.5%, with a payout ratio currently at 61.71%.

HBK Investments L P acquired a new position in Consolidated Edison Inc (NYSE:ED - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 15,000 shares of the utilities provider's stock, valued at approximately $1,659,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ED. Glen Eagle Advisors LLC raised its holdings in Consolidated Edison by 6.2% in the 4th quarter. Glen Eagle Advisors LLC now owns 1,902 shares of the utilities provider's stock valued at $170,000 after acquiring an additional 111 shares in the last quarter. Western Wealth Management LLC raised its holdings in Consolidated Edison by 0.7% in the 1st quarter. Western Wealth Management LLC now owns 16,101 shares of the utilities provider's stock valued at $1,781,000 after acquiring an additional 116 shares in the last quarter. Eastern Bank raised its holdings in Consolidated Edison by 2.9% in the 1st quarter. Eastern Bank now owns 4,294 shares of the utilities provider's stock valued at $475,000 after acquiring an additional 120 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings in Consolidated Edison by 64.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider's stock valued at $34,000 after acquiring an additional 120 shares in the last quarter. Finally, Integrated Advisors Network LLC raised its holdings in Consolidated Edison by 1.6% in the 1st quarter. Integrated Advisors Network LLC now owns 7,842 shares of the utilities provider's stock valued at $867,000 after acquiring an additional 121 shares in the last quarter. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Stock Up 0.2%

Shares of NYSE:ED traded up $0.21 during midday trading on Friday, reaching $98.01. The company had a trading volume of 1,724,453 shares, compared to its average volume of 2,841,150. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. The business's 50 day moving average price is $101.22 and its 200 day moving average price is $103.90. The stock has a market cap of $35.35 billion, a PE ratio of 17.79, a P/E/G ratio of 2.72 and a beta of 0.28. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year high of $114.87.

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

Consolidated Edison Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on ED. Morgan Stanley reissued an "underweight" rating on shares of Consolidated Edison in a report on Thursday, August 21st. KeyCorp reaffirmed an "overweight" rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Bank of America lowered Consolidated Edison from a "buy" rating to an "underperform" rating and reduced their price target for the stock from $112.00 to $101.00 in a research report on Friday, August 15th. Scotiabank raised their price objective on Consolidated Edison from $101.00 to $106.00 and gave the stock a "sector perform" rating in a research note on Monday, August 11th. Finally, Barclays raised their price objective on Consolidated Edison from $101.00 to $107.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 13th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Consolidated Edison presently has a consensus rating of "Hold" and an average price target of $105.82.

Consolidated Edison Profile

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.