APG Asset Management N.V. Has $51.69 Million Stock Holdings in Consolidated Edison Inc $ED

Key Points

• APG Asset Management N.V. reduced its stake in Consolidated Edison Inc by 9.4%, selling 52,534 shares and now owns approximately 0.14% of the company valued at $51.69 million.
• Consolidated Edison reported $0.67 EPS for the last quarter, exceeding estimates, with a revenue of $3.60 billion against expected $3.39 billion.
• The company recently declared a quarterly dividend of $0.85 per share, payable on September 15, indicating a 3.3% yield.

APG Asset Management N.V. lessened its holdings in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 9.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 504,845 shares of the utilities provider's stock after selling 52,534 shares during the period. APG Asset Management N.V. owned approximately 0.14% of Consolidated Edison worth $51,686,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Merit Financial Group LLC raised its position in Consolidated Edison by 16.8% in the 1st quarter. Merit Financial Group LLC now owns 10,666 shares of the utilities provider's stock valued at $1,180,000 after buying an additional 1,533 shares during the last quarter. Ritholtz Wealth Management acquired a new stake in Consolidated Edison in the 1st quarter valued at approximately $227,000. Wealth Enhancement Advisory Services LLC raised its position in Consolidated Edison by 2.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 250,014 shares of the utilities provider's stock valued at $27,649,000 after buying an additional 6,869 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Consolidated Edison in the 1st quarter valued at approximately $217,000. Finally, GAMMA Investing LLC raised its position in Consolidated Edison by 45.0% in the 1st quarter. GAMMA Investing LLC now owns 9,242 shares of the utilities provider's stock valued at $1,022,000 after buying an additional 2,869 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company's stock.

Consolidated Edison Stock Performance

Shares of ED stock traded down $0.20 during trading on Tuesday, reaching $99.75. 3,309,462 shares of the company's stock were exchanged, compared to its average volume of 2,561,908. 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 stock has a market capitalization of $35.97 billion, a PE ratio of 18.10, a PEG ratio of 2.78 and a beta of 0.24. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87. The firm's fifty day moving average price is $101.48 and its 200-day moving average price is $103.82.

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 for the quarter, topping analysts' consensus estimates of $0.66 by $0.01. The business had revenue of $3.60 billion for 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 firm earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, sell-side analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors 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 dividend on an annualized basis and a dividend yield of 3.4%. Consolidated Edison's payout ratio is presently 61.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ED shares. Mizuho lifted their target price on Consolidated Edison from $107.00 to $112.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Guggenheim lifted their target price on Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. KeyCorp reaffirmed an "overweight" rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Barclays boosted their price target on Consolidated Edison from $101.00 to $107.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 13th. Finally, Wells Fargo & Company boosted their price target on Consolidated Edison from $103.00 to $114.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price 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.