Nomura Holdings Inc. Increases Stock Position in Consolidated Edison Inc $ED

Key Points

• Nomura Holdings Inc increased its holdings in Consolidated Edison Inc by 144.1%, owning 27,859 shares worth approximately $3.08 million as of its latest SEC filing.
• Consolidated Edison recently announced a quarterly dividend of $0.85 per share, representing a 3.5% yield and an annual payout ratio of 61.71%.
• The company reported a quarterly earnings per share (EPS) of $0.67, exceeding analysts’ expectations, with a revenue of $3.60 billion during the same period.

Nomura Holdings Inc. boosted its stake in Consolidated Edison Inc (NYSE:ED - Free Report) by 144.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,859 shares of the utilities provider's stock after buying an additional 16,448 shares during the period. Nomura Holdings Inc.'s holdings in Consolidated Edison were worth $3,081,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Revolve Wealth Partners LLC lifted its holdings in shares of Consolidated Edison by 13.4% during the fourth 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 during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in Consolidated Edison by 175.4% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 11,334 shares of the utilities provider's stock worth $1,011,000 after acquiring an additional 7,218 shares during the last quarter. Aptus Capital Advisors LLC raised its holdings 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 worth $547,000 after acquiring an additional 556 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Consolidated Edison by 1.7% in the 4th quarter. Ameriprise Financial Inc. now owns 198,994 shares of the utilities provider's stock worth $17,767,000 after acquiring an additional 3,275 shares during the last quarter. Finally, Baker Avenue Asset Management LP raised its holdings 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 worth $334,000 after acquiring an additional 660 shares during the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Mizuho boosted their price objective 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. Bank of America lowered shares of Consolidated Edison from a "buy" rating to an "underperform" rating and decreased their price objective for the stock from $112.00 to $101.00 in a report on Friday, August 15th. KeyCorp reaffirmed an "overweight" rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Scotiabank boosted 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. Finally, Barclays boosted their price objective on shares of Consolidated Edison from $101.00 to $107.00 and gave the company an "underweight" rating in a research report on Wednesday, August 13th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $105.82.

Consolidated Edison Price Performance

Consolidated Edison stock traded up $0.21 during mid-day trading on Friday, hitting $98.01. The stock had a trading volume of 1,724,453 shares, compared to its average volume of 2,841,150. The firm has a market capitalization of $35.35 billion, a P/E ratio of 17.79, a P/E/G ratio of 2.72 and a beta of 0.28. 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's 50 day moving average is $101.22 and its 200 day moving average is $103.90. Consolidated Edison Inc has a one year low of $87.28 and a one year high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its earnings results 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. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate 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 prior year, the firm posted $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, sell-side analysts forecast 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 will be paid on Monday, September 15th. Investors of record on Wednesday, August 13th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $3.40 annualized dividend and a yield of 3.5%. Consolidated Edison's dividend payout ratio is currently 61.71%.

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.