Consolidated Edison Inc $ED Shares Purchased by Shell Asset Management Co.

Key Points

• Shell Asset Management Co. has increased its stake in Consolidated Edison Inc. by 17.3%, bringing its total holdings to 35,651 shares valued at approximately $3.58 million.
• Consolidated Edison reported earnings of $0.67 EPS for the last quarter, exceeding analysts' expectations and setting its FY 2025 guidance at 5.500-5.700 EPS.
• The company recently declared a $0.85 quarterly dividend, representing an annual yield of 3.4% and a payout ratio of 61.71%.

Shell Asset Management Co. increased its stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 17.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,651 shares of the utilities provider's stock after acquiring an additional 5,262 shares during the period. Shell Asset Management Co.'s holdings in Consolidated Edison were worth $3,578,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Ritholtz Wealth Management acquired a new stake in Consolidated Edison in the first quarter valued at approximately $227,000. Wealth Enhancement Advisory Services LLC grew its holdings in Consolidated Edison by 2.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 250,014 shares of the utilities provider's stock valued at $27,649,000 after purchasing an additional 6,869 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in Consolidated Edison in the first quarter valued at approximately $217,000. AG2R LA Mondiale Gestion D Actifs acquired a new stake in Consolidated Edison in the first quarter valued at approximately $1,631,000. Finally, GAMMA Investing LLC grew its holdings in Consolidated Edison by 45.0% in the first quarter. GAMMA Investing LLC now owns 9,242 shares of the utilities provider's stock valued at $1,022,000 after purchasing an additional 2,869 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $100.02 on Wednesday. Consolidated Edison Inc has a one year low of $87.28 and a one year high of $114.87. The company has a market cap of $36.07 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 2.76 and a beta of 0.32. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. The business's 50 day moving average price is $99.87 and its 200 day moving average price is $103.15.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its earnings results 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 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 the consensus estimate of $3.39 billion. During the same quarter in the previous year, the business earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, research analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th were given a $0.85 dividend. The ex-dividend date was 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 currently 61.71%.

Wall Street Analyst Weigh In

ED has been the topic of several research analyst reports. Mizuho raised their price objective on Consolidated Edison from $107.00 to $112.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Scotiabank lifted their price target on Consolidated Edison from $101.00 to $106.00 and gave the stock a "sector perform" rating in a research note on Monday, August 11th. Bank of America lowered Consolidated Edison from a "buy" rating to an "underperform" rating and lowered their price target for the stock from $112.00 to $101.00 in a research note on Friday, August 15th. Barclays lifted their price target on Consolidated Edison from $101.00 to $107.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 13th. Finally, New Street Research set a $106.00 price target on Consolidated Edison in a research note on Monday. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $105.92.

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.

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