Dimensional Fund Advisors LP Purchases 48,560 Shares of Consolidated Edison Inc $ED

Key Points

• Dimensional Fund Advisors LP increased its stake in Consolidated Edison by 3.7%, now owning approximately 1.36 million shares worth $150.72 million after acquiring 48,560 additional shares.
• Other institutional investors, including Horizon Investments and Russell Investments Group, have also raised their positions in Consolidated Edison, contributing to a total institutional ownership of 66.29%.
• Consolidated Edison reported a quarterly earnings per share (EPS) of $0.67, exceeding analysts' expectations, and has set its FY 2025 EPS guidance to a range of $5.500 to $5.700.

Dimensional Fund Advisors LP grew its stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,363,023 shares of the utilities provider's stock after acquiring an additional 48,560 shares during the period. Dimensional Fund Advisors LP owned about 0.38% of Consolidated Edison worth $150,720,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ED. Deutsche Bank AG lifted its position in shares of Consolidated Edison by 130.6% in the 1st quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider's stock worth $434,266,000 after buying an additional 2,223,959 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Consolidated Edison by 106.9% in the 1st quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider's stock worth $308,643,000 after buying an additional 1,441,785 shares during the last quarter. Nuveen LLC bought a new position in shares of Consolidated Edison in the 1st quarter worth about $146,073,000. GAMMA Investing LLC lifted its position in shares of Consolidated Edison by 15,937.5% in the 1st quarter. GAMMA Investing LLC now owns 1,022,073 shares of the utilities provider's stock worth $113,031,000 after buying an additional 1,015,700 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Consolidated Edison by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 43,117,094 shares of the utilities provider's stock worth $4,768,319,000 after buying an additional 661,432 shares during the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ED has been the topic of several recent research reports. Wells Fargo & Company lifted their price objective on shares of Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Barclays lifted 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. KeyCorp reiterated an "overweight" rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Guggenheim lifted their price objective on shares of Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Finally, Morgan Stanley dropped their price target on shares of Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating on the stock in a research report on Wednesday, June 18th. 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. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $105.82.

Consolidated Edison Price Performance

Shares of ED traded down $1.45 during mid-day trading on Monday, hitting $100.20. The company's stock had a trading volume of 1,107,447 shares, compared to its average volume of 2,737,629. The firm has a 50-day moving average price of $101.54 and a 200 day moving average price of $103.82. The stock has a market capitalization of $36.14 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 2.83 and a beta of 0.24. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01. Consolidated Edison Inc has a fifty-two week low of $87.28 and a fifty-two week high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. The business had revenue of $3.60 billion during the quarter, compared to analysts' expectations of $3.39 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same period 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, research analysts predict 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 given a dividend of $0.85 per share. The ex-dividend date of this dividend is 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 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.