Czech National Bank Buys 8,493 Shares of Consolidated Edison Inc $ED

Key Points

• The Czech National Bank increased its holdings in Consolidated Edison Inc by 10.7%, acquiring an additional 8,493 shares, bringing its total holdings to 88,069 shares worth about $8.8 million.
• Consolidated Edison reported a $3.60 billion revenue for the recent quarter, exceeding analyst estimates, with an earnings per share (EPS) of $0.67.
• The company has declared a quarterly dividend of $0.85 per share, reflecting a 3.5% dividend yield and a payout ratio of 61.71%.

Czech National Bank boosted its position in Consolidated Edison Inc (NYSE:ED - Free Report) by 10.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,069 shares of the utilities provider's stock after buying an additional 8,493 shares during the quarter. Czech National Bank's holdings in Consolidated Edison were worth $8,838,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ED. Alpine Bank Wealth Management acquired a new stake in shares of Consolidated Edison during the 1st quarter valued at $32,000. Fort Vancouver Investment Management LLC bought a new position in shares of Consolidated Edison in the first quarter worth about $33,000. Financial Network Wealth Advisors LLC bought a new stake in shares of Consolidated Edison in the first quarter valued at about $33,000. Cary Street Partners Investment Advisory LLC lifted its stake in shares of Consolidated Edison by 64.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider's stock valued at $34,000 after buying an additional 120 shares during the period. Finally, Wood Tarver Financial Group LLC acquired a new position in Consolidated Edison in the fourth quarter worth about $35,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ED. Morgan Stanley reaffirmed an "underweight" rating on shares of Consolidated Edison in a report on Thursday, August 21st. Barclays boosted their price target on shares of Consolidated Edison from $101.00 to $107.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 13th. KeyCorp reiterated an "overweight" rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Mizuho increased their price target on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Finally, Scotiabank increased 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 note on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $105.82.

Consolidated Edison Stock Up 0.1%

ED stock traded up $0.06 during trading on Friday, hitting $96.41. 4,091,677 shares of the stock traded hands, compared to its average volume of 2,287,953. The firm's 50 day moving average is $100.53 and its two-hundred day moving average is $103.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01. The stock has a market cap of $34.77 billion, a price-to-earnings ratio of 17.50, a price-to-earnings-growth ratio of 2.68 and a beta of 0.28. Consolidated Edison Inc has a 1 year low of $87.28 and a 1 year high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last released its earnings results on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, topping 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 company had revenue of $3.60 billion for the quarter, compared to analysts' expectations of $3.39 billion. During the same quarter last year, the business earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, sell-side analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

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

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.