Consolidated Edison Inc $ED Shares Acquired by Vident Advisory LLC

Key Points

• Vident Advisory LLC increased its stake in Consolidated Edison Inc by 38.5%, acquiring an additional 17,796 shares, bringing their total holdings to 64,029 shares worth $7.08 million.
• Major institutional investors like Deutsche Bank AG and JPMorgan Chase & Co. significantly boosted their investments, helping institutional investors collectively own 66.29% of the company's stock.
• Consolidated Edison announced a quarterly dividend of $0.85 per share, yielding 3.5%, with an expected fiscal year EPS between 5.500-5.700 for FY 2025.

Vident Advisory LLC lifted its position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 38.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,029 shares of the utilities provider's stock after acquiring an additional 17,796 shares during the quarter. Vident Advisory LLC's holdings in Consolidated Edison were worth $7,082,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ED. Alpine Bank Wealth Management purchased a new position in Consolidated Edison in the 1st quarter valued at about $32,000. Fort Vancouver Investment Management LLC purchased a new position in Consolidated Edison in the 1st quarter worth approximately $33,000. Financial Network Wealth Advisors LLC purchased a new position in Consolidated Edison in the 1st quarter worth approximately $33,000. Cary Street Partners Investment Advisory LLC lifted its stake in Consolidated Edison by 64.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider's stock worth $34,000 after purchasing an additional 120 shares in the last quarter. Finally, Elite Financial Inc. purchased a new position in Consolidated Edison in the 1st quarter worth approximately $38,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ED has been the topic of a number of research reports. KeyCorp reissued an "overweight" rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Bank of America lowered shares of Consolidated Edison from a "buy" rating to an "underperform" rating and decreased their target price for the stock from $112.00 to $101.00 in a research note on Friday, August 15th. Scotiabank raised their target price on shares of Consolidated Edison from $101.00 to $106.00 and gave the stock a "sector perform" rating in a research note on Monday, August 11th. 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 research note on Wednesday, August 13th. Finally, 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 research note on Friday, August 8th. Three research 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $105.82.

Consolidated Edison Trading Down 0.2%

Consolidated Edison stock traded down $0.24 during trading on Thursday, hitting $97.61. The company had a trading volume of 491,799 shares, compared to its average volume of 2,763,170. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year 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. The company's 50 day simple moving average is $101.24 and its 200-day simple moving average is $103.87. The stock has a market cap of $35.20 billion, a price-to-earnings ratio of 17.71, a price-to-earnings-growth ratio of 2.73 and a beta of 0.28.

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 for the quarter, beating the consensus estimate 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 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business 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. This represents a $3.40 annualized dividend and a yield of 3.5%. The ex-dividend date is Wednesday, August 13th. Consolidated Edison's dividend payout ratio (DPR) 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.