Voya Investment Management LLC Has $12.51 Million Stake in Consolidated Edison Inc $ED

Key Points

• Voya Investment Management LLC reduced its holdings in Consolidated Edison Inc by 5.0%, selling 5,990 shares, bringing its total ownership to 113,159 shares valued at approximately $12.5 million.
• Analysts have given Consolidated Edison a consensus rating of "Hold" with price targets ranging from $101.00 to $112.00, reflecting varying opinions on the stock's performance.
• Consolidated Edison recently declared a quarterly dividend of $0.85 per share, yielding around 3.6%, with a payout ratio of 61.71%.

Voya Investment Management LLC cut its holdings in Consolidated Edison Inc (NYSE:ED - Free Report) by 5.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 113,159 shares of the utilities provider's stock after selling 5,990 shares during the period. Voya Investment Management LLC's holdings in Consolidated Edison were worth $12,514,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Consolidated Edison by 1.6% in the first quarter. Vanguard Group Inc. now owns 43,117,094 shares of the utilities provider's stock valued at $4,768,319,000 after acquiring an additional 661,432 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Consolidated Edison by 1.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,868,772 shares of the utilities provider's stock valued at $538,437,000 after acquiring an additional 48,323 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Consolidated Edison by 6.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,820,449 shares of the utilities provider's stock worth $430,129,000 after purchasing an additional 271,088 shares in the last quarter. Deutsche Bank AG lifted its stake in Consolidated Edison by 130.6% during the first quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider's stock worth $434,266,000 after purchasing an additional 2,223,959 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Consolidated Edison by 106.9% during the first quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider's stock worth $308,643,000 after purchasing an additional 1,441,785 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Up 0.1%

NYSE:ED traded up $0.06 during trading hours on Friday, hitting $96.41. The company's stock had a trading volume of 4,091,677 shares, compared to its average volume of 2,287,953. The stock has a market capitalization of $34.77 billion, a P/E ratio of 17.50, a price-to-earnings-growth ratio of 2.68 and a beta of 0.28. The stock has a fifty day moving average of $100.53 and a 200-day moving average of $103.69. 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 Inc has a 52-week low of $87.28 and a 52-week high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $3.39 billion. During the same quarter last year, the company posted $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, equities analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Wednesday, August 13th. Consolidated Edison's dividend payout ratio (DPR) is presently 61.71%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. KeyCorp restated an "overweight" rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Morgan Stanley reaffirmed an "underweight" rating on shares of Consolidated Edison in a research report on Thursday, August 21st. Bank of America lowered Consolidated Edison from a "buy" rating to an "underperform" rating and cut their price objective for the stock from $112.00 to $101.00 in a research report on Friday, August 15th. Barclays upped their price objective on Consolidated Edison from $101.00 to $107.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 13th. Finally, Scotiabank upped their price objective on Consolidated Edison from $101.00 to $106.00 and gave the stock a "sector perform" rating in a research report on Monday, August 11th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average 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.