Consolidated Edison Inc $ED Shares Bought by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC increased its stake in Consolidated Edison Inc by 7.5%, owning approximately $135.51 million worth of shares by the end of the reporting period.
• Consolidated Edison reported a quarterly earnings per share (EPS) of $0.67, surpassing analysts' estimates of $0.66 by $0.01, along with revenue of $3.60 billion.
• The company's most recent dividend announced is $0.85 per share, resulting in a 3.5% yield with a payout ratio of 61.71%.

AQR Capital Management LLC boosted its stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 7.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,227,747 shares of the utilities provider's stock after acquiring an additional 85,438 shares during the quarter. AQR Capital Management LLC owned 0.34% of Consolidated Edison worth $135,506,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ED. Revolve Wealth Partners LLC raised its stake in shares of Consolidated Edison by 13.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider's stock worth $332,000 after buying an additional 441 shares during the period. Aptus Capital Advisors LLC raised its stake in shares of Consolidated Edison by 10.0% during the 4th quarter. Aptus Capital Advisors LLC now owns 6,134 shares of the utilities provider's stock worth $547,000 after buying an additional 556 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Consolidated Edison by 1.7% during the 4th quarter. Ameriprise Financial Inc. now owns 198,994 shares of the utilities provider's stock worth $17,767,000 after buying an additional 3,275 shares during the period. Cary Street Partners Financial LLC acquired a new position in shares of Consolidated Edison during the 4th quarter worth approximately $1,585,000. Finally, Captrust Financial Advisors raised its stake in shares of Consolidated Edison by 5.2% during the 4th quarter. Captrust Financial Advisors now owns 40,255 shares of the utilities provider's stock worth $3,592,000 after buying an additional 1,995 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ED has been the subject of several research analyst reports. Mizuho upped their target price on Consolidated Edison from $107.00 to $112.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Barclays boosted their price objective on Consolidated Edison from $101.00 to $107.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 13th. Scotiabank boosted their price objective on Consolidated Edison from $101.00 to $106.00 and gave the stock a "sector perform" rating in a research note on Monday, August 11th. Bank of America cut Consolidated Edison from a "buy" rating to an "underperform" rating and dropped their price target for the stock from $112.00 to $101.00 in a research report on Friday, August 15th. Finally, Morgan Stanley reiterated an "underweight" rating on shares of Consolidated Edison in a research report on Thursday, August 21st. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $105.82.

Consolidated Edison Price Performance

Shares of ED traded up $0.21 during trading hours on Tuesday, hitting $96.86. 415,267 shares of the stock were exchanged, compared to its average volume of 2,748,989. 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 Inc has a 12-month low of $87.28 and a 12-month high of $114.87. The company has a market cap of $34.93 billion, a price-to-earnings ratio of 17.59, a price-to-earnings-growth ratio of 2.72 and a beta of 0.28. The stock's 50-day moving average price is $101.15 and its two-hundred day moving average price is $104.01.

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

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th will be paid 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 yield of 3.5%. Consolidated Edison's payout ratio is 61.71%.

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.