Advisors Asset Management Inc. Has $2.30 Million Stock Position in Consolidated Edison Inc $ED

Key Points

• Advisors Asset Management Inc. increased its stake in Consolidated Edison Inc by 15.8%, now holding 20,818 shares valued at $2.3 million, according to a recent SEC filing.
• Consolidated Edison reported an earnings per share (EPS) of $0.67 for the last quarter, exceeding the consensus estimate of $0.66, with revenue of $3.60 billion—above the expected $3.39 billion.
• The company announced a quarterly dividend of $0.85, representing a 3.5% yield, set to be paid on September 15th, with an ex-dividend date of August 13th.

Advisors Asset Management Inc. increased its position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 15.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,818 shares of the utilities provider's stock after buying an additional 2,838 shares during the period. Advisors Asset Management Inc.'s holdings in Consolidated Edison were worth $2,302,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Glen Eagle Advisors LLC raised its holdings in shares of Consolidated Edison by 6.2% during the fourth quarter. Glen Eagle Advisors LLC now owns 1,902 shares of the utilities provider's stock worth $170,000 after purchasing an additional 111 shares during the period. Western Wealth Management LLC boosted its stake in Consolidated Edison by 0.7% in the first 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 during the period. Eastern Bank grew 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. Cary Street Partners Investment Advisory LLC raised its position in shares of Consolidated Edison by 64.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider's stock worth $34,000 after purchasing an additional 120 shares during the period. Finally, Integrated Advisors Network LLC lifted its holdings in shares of Consolidated Edison by 1.6% in the 1st quarter. Integrated Advisors Network LLC now owns 7,842 shares of the utilities provider's stock worth $867,000 after purchasing an additional 121 shares during the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Stock Down 0.2%

Shares of ED stock traded down $0.16 on Friday, hitting $97.54. 1,249,436 shares of the stock were exchanged, compared to its average volume of 2,634,055. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The firm has a market capitalization of $35.18 billion, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 2.72 and a beta of 0.28. The business has a 50-day moving average of $100.92 and a 200 day moving average of $103.88.

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. 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 quarter in the prior year, the company posted $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $3.40 annualized dividend and a yield of 3.5%. Consolidated Edison's dividend payout ratio (DPR) is currently 61.71%.

Analyst Ratings Changes

A number of research analysts have issued reports on ED shares. Scotiabank boosted their target price on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a "sector perform" rating in a research note on Monday, August 11th. Morgan Stanley reissued an "underweight" rating on shares of Consolidated Edison in a research note on Thursday, August 21st. KeyCorp reaffirmed an "overweight" rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Barclays lifted their price target on Consolidated Edison from $101.00 to $107.00 and gave the company an "underweight" rating in a report on Wednesday, August 13th. Finally, Mizuho boosted their price target on Consolidated Edison from $107.00 to $112.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $105.82.

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.