Aberdeen Group plc Purchases 53,064 Shares of Consolidated Edison Inc $ED

Key Points

• Aberdeen Group plc increased its holdings in Consolidated Edison Inc by 11.5%, acquiring an additional 53,064 shares, bringing its total ownership to approximately 512,548 shares valued at $51.4 million.
• Several institutional investors have made changes to their positions in Consolidated Edison, with 66.29% of the company's stock now held by institutional investors.
• Consolidated Edison recently declared a quarterly dividend of $0.85 per share, representing a 3.3% dividend yield and an annualized payout of $3.40.

Aberdeen Group plc lifted its position in Consolidated Edison Inc (NYSE:ED - Free Report) by 11.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 512,548 shares of the utilities provider's stock after buying an additional 53,064 shares during the period. Aberdeen Group plc owned about 0.14% of Consolidated Edison worth $51,434,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Exchange Traded Concepts LLC lifted its stake in shares of Consolidated Edison by 1.0% in the second quarter. Exchange Traded Concepts LLC now owns 11,050 shares of the utilities provider's stock worth $1,109,000 after buying an additional 109 shares in the last quarter. Capital Advisors Ltd. LLC lifted its stake in shares of Consolidated Edison by 53.2% in the second quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider's stock worth $32,000 after buying an additional 109 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Consolidated Edison by 1.3% in the second quarter. Farther Finance Advisors LLC now owns 8,896 shares of the utilities provider's stock worth $893,000 after buying an additional 110 shares in the last quarter. Western Wealth Management LLC raised its holdings in shares of Consolidated Edison by 0.7% during the first quarter. Western Wealth Management LLC now owns 16,101 shares of the utilities provider's stock valued at $1,781,000 after purchasing an additional 116 shares during the last quarter. Finally, Eastern Bank raised its holdings in shares of Consolidated Edison by 2.9% during the first quarter. Eastern Bank now owns 4,294 shares of the utilities provider's stock valued at $475,000 after purchasing an additional 120 shares during the last quarter. Institutional investors own 66.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Consolidated Edison from $101.00 to $107.00 and gave the company an "underweight" rating in a report on Wednesday, August 13th. Mizuho boosted their price objective on shares of Consolidated Edison from $107.00 to $112.00 and gave the company an "outperform" rating in a report on Friday, August 8th. New Street Research set a $106.00 price objective on shares of Consolidated Edison in a report on Monday, October 6th. KeyCorp reissued an "overweight" rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Finally, Scotiabank boosted their price objective on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a "sector perform" rating in a report on Monday, August 11th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $105.75.

Consolidated Edison Stock Up 1.5%

Shares of ED stock opened at $102.36 on Friday. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87. The stock has a market cap of $36.92 billion, a P/E ratio of 18.58, a P/E/G ratio of 2.85 and a beta of 0.32. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The company has a 50 day simple moving average of $99.73 and a two-hundred day simple moving average of $103.03.

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, beating analysts' consensus estimates of $0.66 by $0.01. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. The business had revenue of $3.60 billion during the quarter, compared to analysts' expectations of $3.39 billion. During the same period in the prior year, the company earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, research analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Wednesday, August 13th. Consolidated Edison's dividend payout ratio is presently 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.

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