Consolidated Edison Inc $ED Shares Acquired by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management has increased its stake in Consolidated Edison Inc by 1.0%, holding approximately 4.87 million shares valued at around $538 million as of the latest reporting period.
• Several research firms have updated their price targets for Consolidated Edison, with Mizuho being the most optimistic at a target of $112.00.
• Consolidated Edison reported better-than-expected earnings of $0.67 per share for the last quarter, exceeding analysts' estimates of $0.66.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Consolidated Edison Inc (NYSE:ED - Free Report) by 1.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,868,772 shares of the utilities provider's stock after acquiring an additional 48,323 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 1.35% of Consolidated Edison worth $538,437,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Woodline Partners LP increased its stake in Consolidated Edison by 40.7% during the 1st quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider's stock valued at $3,237,000 after buying an additional 8,468 shares during the period. Empowered Funds LLC increased its stake in Consolidated Edison by 42.1% during the 1st quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider's stock valued at $993,000 after buying an additional 2,659 shares during the period. HFM Investment Advisors LLC acquired a new position in Consolidated Edison during the 1st quarter valued at about $52,000. Ascent Group LLC acquired a new position in Consolidated Edison during the 1st quarter valued at about $311,000. Finally, MBB Public Markets I LLC acquired a new position in Consolidated Edison during the 1st quarter valued at about $328,000. Institutional investors and hedge funds own 66.29% of the company's stock.

Analyst Ratings Changes

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

Consolidated Edison Price Performance

NYSE ED opened at $97.00 on Wednesday. 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 $34.98 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 2.69 and a beta of 0.28. The company has a 50 day moving average price of $101.07 and a two-hundred day moving average price of $103.96. 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 posted its 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 firm 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 period in the previous year, the company earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, equities analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently announced 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 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 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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