ATLAS Infrastructure Partners UK Ltd. Purchases New Shares in Consolidated Edison Inc $ED

Key Points

• ATLAS Infrastructure Partners UK Ltd. has acquired 2,298,622 shares of Consolidated Edison Inc, valued at approximately $254 million, making it the fourth largest position in their portfolio.
• Over 66% of Consolidated Edison’s stock is now owned by institutional investors, with several firms, including Revolve Wealth Partners LLC and Aptus Capital Advisors LLC, increasing their stakes in the company.
• Consolidated Edison has announced a quarterly dividend of $0.85, translating to an annual yield of 3.5%, which will be paid to stockholders of record on August 13th.

ATLAS Infrastructure Partners UK Ltd. acquired a new stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,298,622 shares of the utilities provider's stock, valued at approximately $254,205,000. Consolidated Edison makes up 17.9% of ATLAS Infrastructure Partners UK Ltd.'s investment portfolio, making the stock its 4th largest position. ATLAS Infrastructure Partners UK Ltd. owned approximately 0.64% of Consolidated Edison at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ED. Revolve Wealth Partners LLC lifted its holdings 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 valued at $332,000 after purchasing an additional 441 shares in the last quarter. Aptus Capital Advisors LLC raised its position in Consolidated Edison by 10.0% in the 4th quarter. Aptus Capital Advisors LLC now owns 6,134 shares of the utilities provider's stock valued at $547,000 after buying an additional 556 shares during the last quarter. Ameriprise Financial Inc. raised its position in Consolidated Edison by 1.7% in the 4th quarter. Ameriprise Financial Inc. now owns 198,994 shares of the utilities provider's stock valued at $17,767,000 after buying an additional 3,275 shares during the last quarter. Baker Avenue Asset Management LP raised its position in Consolidated Edison by 21.4% in the 4th quarter. Baker Avenue Asset Management LP now owns 3,745 shares of the utilities provider's stock valued at $334,000 after buying an additional 660 shares during the last quarter. Finally, Caxton Associates LP acquired a new stake in Consolidated Edison in the 4th quarter valued at approximately $1,018,000. Institutional investors own 66.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ED shares. Barclays lifted their target price on Consolidated Edison from $101.00 to $107.00 and gave the company an "underweight" rating in a research report on Wednesday, August 13th. KeyCorp reissued an "overweight" rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Scotiabank boosted their price target on Consolidated Edison from $101.00 to $106.00 and gave the stock a "sector perform" rating in a research report on Monday, August 11th. Bank of America lowered Consolidated Edison from a "buy" rating to an "underperform" rating and lowered their price target for the stock from $112.00 to $101.00 in a research report on Friday, August 15th. 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 investment 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 presently has an average rating of "Hold" and a consensus target price of $105.82.

Consolidated Edison Stock Performance

Shares of ED stock traded up $0.21 during trading on Friday, reaching $98.01. 1,724,453 shares of the company's stock were exchanged, compared to its average volume of 2,841,150. 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 $35.35 billion, a PE ratio of 17.79, a PEG ratio of 2.72 and a beta of 0.28. 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 $101.22 and its 200-day moving average price is $103.96.

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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Wednesday, August 13th will be paid a $0.85 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $3.40 annualized dividend and a yield of 3.5%. Consolidated Edison's payout ratio is 61.71%.

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.