Diversified Trust Co Buys 4,994 Shares of Consolidated Edison Inc $ED

Key Points

• Diversified Trust Co increased its holdings in Consolidated Edison Inc by 14.6% in Q2, now owning 39,221 shares valued at approximately $3.94 million.
• While several institutional investors adjusted their positions, 66.29% of Consolidated Edison’s stock is currently held by institutional investors.
• Consolidated Edison reported a quarterly earnings of $0.67 per share, beating analysts' consensus estimates and setting FY 2025 guidance at 5.500-5.700 EPS.

Diversified Trust Co boosted its holdings in Consolidated Edison Inc (NYSE:ED - Free Report) by 14.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 39,221 shares of the utilities provider's stock after purchasing an additional 4,994 shares during the quarter. Diversified Trust Co's holdings in Consolidated Edison were worth $3,936,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. ATLAS Infrastructure Partners UK Ltd. purchased a new position in Consolidated Edison in the first quarter worth $254,205,000. Deutsche Bank AG raised its stake in shares of Consolidated Edison by 130.6% during the 1st quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider's stock valued at $434,266,000 after purchasing an additional 2,223,959 shares during the period. JPMorgan Chase & Co. increased its stake in Consolidated Edison by 106.9% in the 1st quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider's stock worth $308,643,000 after acquiring an additional 1,441,785 shares during the last quarter. Nuveen LLC bought a new position in Consolidated Edison in the 1st quarter worth about $146,073,000. Finally, Price T Rowe Associates Inc. MD increased its stake in Consolidated Edison by 215.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,688,480 shares of the utilities provider's stock worth $186,730,000 after acquiring an additional 1,152,892 shares during the last quarter. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Stock Up 1.0%

Shares of ED stock traded up $0.94 on Tuesday, reaching $97.56. 403,347 shares of the stock were exchanged, compared to its average volume of 2,702,174. The business's 50 day moving average price is $100.44 and its 200 day moving average price is $103.69. The company has a market capitalization of $35.18 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 2.68 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 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 (NYSE:ED - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter last year, the firm earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, sell-side analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th were paid 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%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ED. Morgan Stanley reiterated an "underweight" rating on shares of Consolidated Edison in a report on Thursday, August 21st. 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. Mizuho boosted their price objective on Consolidated Edison from $107.00 to $112.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Scotiabank upped their price objective 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. Finally, Bank of America cut Consolidated Edison from a "buy" rating to an "underperform" rating and dropped their price objective for the stock from $112.00 to $101.00 in a research note on Friday, August 15th. Three 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $105.82.

Consolidated Edison 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.