AG2R LA Mondiale Gestion D Actifs Invests $1.63 Million in Consolidated Edison Inc $ED

Key Points

• AG2R LA Mondiale Gestion D Actifs has acquired 15,610 shares of Consolidated Edison Inc, valued at approximately $1,631,000.
• Institutional investors hold 66.29% of Consolidated Edison’s stock, with several notable investments including Vanguard Group and Deutsche Bank significantly increasing their stakes.
• Consolidated Edison recently announced a $0.85 quarterly dividend, representing an annual yield of 3.5% and a payout ratio of 61.71%.

AG2R LA Mondiale Gestion D Actifs purchased a new position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,610 shares of the utilities provider's stock, valued at approximately $1,631,000.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Consolidated Edison by 1.6% during the first quarter. Vanguard Group Inc. now owns 43,117,094 shares of the utilities provider's stock worth $4,768,319,000 after purchasing an additional 661,432 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Consolidated Edison by 1.0% during the first 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 worth $538,437,000 after purchasing an additional 48,323 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Consolidated Edison by 6.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,820,449 shares of the utilities provider's stock worth $430,129,000 after acquiring an additional 271,088 shares during the last quarter. Deutsche Bank AG grew its position in shares of Consolidated Edison by 130.6% during the first quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider's stock worth $434,266,000 after acquiring an additional 2,223,959 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Consolidated Edison by 106.9% during the first quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider's stock worth $308,643,000 after acquiring an additional 1,441,785 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ED shares. Mizuho raised their target price on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. KeyCorp restated an "overweight" rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Scotiabank lifted their price objective 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 lowered shares of Consolidated Edison from a "buy" rating to an "underperform" rating and lowered their price objective for the company from $112.00 to $101.00 in a research report on Friday, August 15th. Finally, Barclays lifted their price objective 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. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $105.82.

Consolidated Edison Stock Performance

Shares of NYSE:ED traded up $0.67 on Wednesday, hitting $96.24. The company's stock had a trading volume of 1,877,483 shares, compared to its average volume of 2,713,321. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87. The company has a market capitalization of $34.71 billion, a price-to-earnings ratio of 17.47, a price-to-earnings-growth ratio of 2.69 and a beta of 0.28. The stock's 50-day moving average is $100.79 and its two-hundred day moving average is $103.84. 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 (NYSE:ED - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $3.39 billion. During the same quarter in the prior 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 forecast that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Wednesday, August 13th. Consolidated Edison's dividend payout ratio is currently 61.71%.

Consolidated Edison Company 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.