ASR Vermogensbeheer N.V. Grows Holdings in Consolidated Edison Inc $ED

Key Points

• ASR Vermogensbeheer N.V. increased its holdings in Consolidated Edison Inc by 15.8%, owning 101,139 shares worth approximately $10.15 million as of the end of the recent quarter.
• The company reported $0.67 EPS for the last quarter, surpassing analyst estimates of $0.66, and had a revenue of $3.60 billion, exceeding consensus expectations.
• Consolidated Edison declared a quarterly dividend of $0.85 per share, which equates to an annual payout of $3.40 and a yield of 3.5%.

ASR Vermogensbeheer N.V. grew its stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 15.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 101,139 shares of the utilities provider's stock after buying an additional 13,791 shares during the quarter. ASR Vermogensbeheer N.V.'s holdings in Consolidated Edison were worth $10,149,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ED. Merit Financial Group LLC boosted its holdings in shares of Consolidated Edison by 16.8% in the 1st quarter. Merit Financial Group LLC now owns 10,666 shares of the utilities provider's stock worth $1,180,000 after purchasing an additional 1,533 shares in the last quarter. Ritholtz Wealth Management bought a new stake in Consolidated Edison in the 1st quarter worth approximately $227,000. Wealth Enhancement Advisory Services LLC boosted its stake in Consolidated Edison by 2.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 250,014 shares of the utilities provider's stock worth $27,649,000 after buying an additional 6,869 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new stake in Consolidated Edison in the first quarter worth approximately $217,000. Finally, AG2R LA Mondiale Gestion D Actifs bought a new position in Consolidated Edison during the first quarter valued at approximately $1,631,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Performance

Shares of NYSE:ED opened at $97.62 on Friday. 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 moving average price of $100.01 and a 200-day moving average price of $103.36. The company has a market cap of $35.21 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 2.73 and a beta of 0.32. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.39 billion. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.During the same quarter in the previous year, the business earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, equities analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Wednesday, August 13th. Consolidated Edison's payout ratio is presently 61.71%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of Consolidated Edison from $95.00 to $93.00 and set an "underweight" rating for the company in a report on Thursday, September 25th. Scotiabank boosted their price target on shares of Consolidated Edison from $101.00 to $106.00 and gave the stock a "sector perform" rating in a research note on Monday, August 11th. Mizuho upped their price target on shares of Consolidated Edison from $107.00 to $112.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Barclays lifted their price objective on Consolidated Edison from $101.00 to $107.00 and gave the stock an "underweight" rating in a report on Wednesday, August 13th. Finally, KeyCorp reissued an "overweight" rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Consolidated Edison has a consensus rating of "Hold" and a consensus 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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