IFM Investors Pty Ltd Acquires 3,069 Shares of Consolidated Edison Inc $ED

Key Points

• IFM Investors Pty Ltd increased its stake in Consolidated Edison Inc by 2.9% in Q2, bringing its total holdings to 110,139 shares valued at $11,052,000.
• Despite some positive moves, analysts have mixed opinions on the stock, with a consensus rating of "Hold" and a price target averaging $105.82.
• Consolidated Edison recently declared a quarterly dividend of $0.85 per share, representing an annualized dividend of $3.40 and a yield of 3.5%.

IFM Investors Pty Ltd lifted its position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 2.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 110,139 shares of the utilities provider's stock after purchasing an additional 3,069 shares during the quarter. IFM Investors Pty Ltd's holdings in Consolidated Edison were worth $11,052,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Merit Financial Group LLC raised its position 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 valued at $1,180,000 after purchasing an additional 1,533 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in shares of Consolidated Edison during the 1st quarter valued at approximately $227,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Consolidated Edison by 2.8% during 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 acquiring an additional 6,869 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of Consolidated Edison during the 1st quarter valued at approximately $217,000. Finally, AG2R LA Mondiale Gestion D Actifs acquired a new stake in shares of Consolidated Edison during the 1st quarter valued at approximately $1,631,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

ED traded up $0.87 during midday trading on Tuesday, reaching $97.49. The company's stock had a trading volume of 308,391 shares, compared to its average volume of 2,701,542. The stock has a market cap of $35.16 billion, a P/E ratio of 17.70, a PEG ratio of 2.68 and a beta of 0.28. The company has a fifty day simple moving average of $100.44 and a 200 day simple moving average of $103.69. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share 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 company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter last year, the firm earned $0.59 EPS. 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 Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on ED. Scotiabank upped their price target on Consolidated Edison from $101.00 to $106.00 and gave the company a "sector perform" rating in a research report on Monday, August 11th. Barclays increased their target price on Consolidated Edison from $101.00 to $107.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 13th. Morgan Stanley reaffirmed an "underweight" rating on shares of Consolidated Edison in a research report on Thursday, August 21st. Mizuho increased their target price on Consolidated Edison from $107.00 to $112.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Finally, KeyCorp reaffirmed an "overweight" rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $105.82.

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.