AMF Tjanstepension AB Has $28.78 Million Position in Consolidated Edison Inc $ED

Key Points

• AMF Tjanstepension AB increased its position in Consolidated Edison Inc by 24.6%, bringing its total holdings to approximately 286,622 shares valued at $28.78 million.
• Consolidated Edison reported $0.67 EPS for the latest quarter, surpassing estimates, with a revenue of $3.60 billion against an expected $3.39 billion.
• The company declared a quarterly dividend of $0.85, resulting in an annualized dividend payout of $3.40 and a dividend yield of 3.4%.

AMF Tjanstepension AB grew its holdings in Consolidated Edison Inc (NYSE:ED - Free Report) by 24.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 286,622 shares of the utilities provider's stock after buying an additional 56,535 shares during the quarter. AMF Tjanstepension AB owned approximately 0.08% of Consolidated Edison worth $28,780,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in ED. Alpine Bank Wealth Management acquired a new stake in Consolidated Edison in the 1st quarter valued at about $32,000. Fort Vancouver Investment Management LLC bought a new stake in shares of Consolidated Edison during the first quarter valued at approximately $33,000. Financial Network Wealth Advisors LLC acquired a new stake in shares of Consolidated Edison in the first quarter valued at approximately $33,000. Cary Street Partners Investment Advisory LLC raised its position 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 worth $34,000 after purchasing an additional 120 shares during the last quarter. Finally, Elite Financial Inc. bought a new position in Consolidated Edison in the 1st quarter worth approximately $38,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Trading Up 1.2%

NYSE:ED opened at $98.83 on Friday. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year high of $114.87. The business's 50-day moving average price is $99.95 and its two-hundred day moving average price is $103.29. 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 firm has a market capitalization of $35.64 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 2.71 and a beta of 0.32.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its 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. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.39 billion. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.During the same period in the previous year, the company earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, equities analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Wednesday, August 13th were given a $0.85 dividend. The ex-dividend date was Wednesday, August 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.4%. Consolidated Edison's dividend payout ratio is currently 61.71%.

Wall Street Analyst Weigh In

ED has been the topic of a number of recent research reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of Consolidated Edison in a research report on Saturday, September 27th. Scotiabank upped their price target on 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 lowered their price objective on Consolidated Edison from $95.00 to $93.00 and set an "underweight" rating for the company in a research report on Thursday, September 25th. Mizuho boosted their price objective on Consolidated Edison from $107.00 to $112.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Finally, KeyCorp reaffirmed an "overweight" rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $105.91.

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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