DRW Securities LLC Buys New Position in Consolidated Edison Inc $ED

Key Points

• DRW Securities LLC purchased a new stake in Consolidated Edison Inc, acquiring 40,564 shares valued at approximately $4.5 million during Q1.
• Several institutional investors, including Vanguard Group and Deutsche Bank AG, have increased their investments in Consolidated Edison, with institutional ownership now at 66.29%.
• The company recently reported a quarterly earnings per share of $0.67, surpassing analyst estimates, and announced a quarterly dividend of $0.85 to be paid in September.

DRW Securities LLC purchased a new stake in Consolidated Edison Inc (NYSE:ED - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 40,564 shares of the utilities provider's stock, valued at approximately $4,486,000.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake 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 valued at $4,768,319,000 after purchasing an additional 661,432 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 during the period. Deutsche Bank AG lifted its position in shares of 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. JPMorgan Chase & Co. boosted its stake in shares of Consolidated Edison by 106.9% in the first quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider's stock valued at $308,643,000 after purchasing an additional 1,441,785 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Consolidated Edison by 2.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,271,594 shares of the utilities provider's stock valued at $251,216,000 after purchasing an additional 45,605 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company's stock.

Wall Street Analysts Forecast Growth

ED has been the topic of a number of research reports. Mizuho increased their target price on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Bank of America cut Consolidated Edison from a "buy" rating to an "underperform" rating and reduced their price objective for the company from $112.00 to $101.00 in a research note on Friday, August 15th. KeyCorp reiterated an "overweight" rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Morgan Stanley restated an "underweight" rating on shares of Consolidated Edison in a report on Thursday, August 21st. Finally, Scotiabank upped their price target on Consolidated Edison from $101.00 to $106.00 and gave the stock a "sector perform" rating in a report on Monday, August 11th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $105.82.

Consolidated Edison Stock Up 0.6%

Shares of ED traded up $0.58 during mid-day trading on Wednesday, reaching $97.78. The company's stock had a trading volume of 4,306,674 shares, compared to its average volume of 2,727,527. Consolidated Edison Inc has a 12-month low of $87.28 and a 12-month high of $114.87. The stock has a market cap of $35.26 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 2.73 and a beta of 0.28. 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 company's 50 day moving average is $101.24 and its 200 day moving average is $103.91.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings data 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 business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the prior year, the business posted $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th will be issued a $0.85 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.5%. Consolidated Edison's dividend payout ratio 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.