Cbre Investment Management Listed Real Assets LLC Acquires 87,442 Shares of Consolidated Edison Inc $ED

Key Points

• Cbre Investment Management Listed Real Assets LLC increased its stake in Consolidated Edison Inc by 21% during Q1, owning a total of 503,749 shares worth approximately $55.71 million.
• Consolidated Edison reported a $0.67 EPS for the last quarter, exceeding estimates, with a revenue of $3.60 billion, against an expected $3.39 billion.
• The company declared a quarterly dividend of $0.85, yielding 3.3%, with the payout ratio currently at 61.71% and the dividend payment scheduled for September 15th.

Cbre Investment Management Listed Real Assets LLC boosted its position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 21.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 503,749 shares of the utilities provider's stock after purchasing an additional 87,442 shares during the period. Cbre Investment Management Listed Real Assets LLC owned approximately 0.14% of Consolidated Edison worth $55,710,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ED. Alpine Bank Wealth Management acquired a new stake in Consolidated Edison during the 1st quarter valued at $32,000. Fort Vancouver Investment Management LLC acquired a new position in shares of Consolidated Edison in the 1st quarter valued at about $33,000. Financial Network Wealth Advisors LLC acquired a new position in Consolidated Edison during the 1st quarter valued at about $33,000. Cary Street Partners Investment Advisory LLC boosted its stake in Consolidated Edison by 64.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider's stock valued at $34,000 after purchasing an additional 120 shares during the period. Finally, Wood Tarver Financial Group LLC acquired a new position in Consolidated Edison during the 4th quarter valued at about $35,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Trading Up 0.3%

Shares of NYSE:ED traded up $0.32 during trading on Wednesday, hitting $100.04. 4,313,817 shares of the company's stock were exchanged, compared to its average volume of 2,759,477. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year high of $114.87. The firm has a 50-day moving average price of $101.48 and a two-hundred day moving average price of $103.82. 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 cap of $36.08 billion, a P/E ratio of 18.16, a PEG ratio of 2.78 and a beta of 0.24.

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. The company had revenue of $3.60 billion during the quarter, compared to analysts' expectations of $3.39 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same quarter in the previous year, the company earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th will be paid a $0.85 dividend. 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 3.4%. Consolidated Edison's payout ratio is presently 61.71%.

Analyst Ratings Changes

ED has been the subject of a number of research analyst reports. Mizuho upped their price target on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Guggenheim upped their price objective on shares of Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Scotiabank increased 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. Barclays increased their price target on shares of Consolidated Edison from $101.00 to $107.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 13th. Finally, Morgan Stanley reaffirmed an "underweight" rating on shares of Consolidated Edison in a report on Thursday, August 21st. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $105.82.

About Consolidated Edison

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.