Ethic Inc. Has $13.80 Million Position in Consolidated Edison Inc $ED

Key Points

• Ethic Inc. increased its stake in Consolidated Edison Inc by 32.7%, bringing its total holdings to 140,632 shares valued at approximately $13.8 million.
• Institutional investors own 66.29% of Consolidated Edison, with notable increases from firms like Deutsche Bank AG and JPMorgan Chase & Co. in the first quarter.
• Consolidated Edison recently announced a quarterly dividend of $0.85 per share, representing an annualized dividend yield of 3.3%.

Ethic Inc. boosted its stake in Consolidated Edison Inc (NYSE:ED - Free Report) by 32.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 140,632 shares of the utilities provider's stock after purchasing an additional 34,628 shares during the quarter. Ethic Inc.'s holdings in Consolidated Edison were worth $13,803,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. ATLAS Infrastructure Partners UK Ltd. acquired a new stake in shares of Consolidated Edison in the 1st quarter valued at about $254,205,000. Deutsche Bank AG grew its stake in Consolidated Edison by 130.6% in the first quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider's stock valued at $434,266,000 after acquiring an additional 2,223,959 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Consolidated Edison by 106.9% during the first quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider's stock valued at $308,643,000 after acquiring an additional 1,441,785 shares in the last quarter. Nuveen LLC acquired a new stake in Consolidated Edison in the 1st quarter valued at $146,073,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Consolidated Edison by 215.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,688,480 shares of the utilities provider's stock worth $186,730,000 after acquiring an additional 1,152,892 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company's stock.

Consolidated Edison Price Performance

ED opened at $101.62 on Wednesday. The stock has a 50-day moving average price of $99.32 and a 200-day moving average price of $102.63. The stock has a market capitalization of $36.65 billion, a P/E ratio of 18.37, a PEG ratio of 2.83 and a beta of 0.32. Consolidated Edison Inc has a 12-month low of $87.28 and a 12-month 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.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.01. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates 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 in the previous year, the business posted $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be issued a $0.85 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.3%. Consolidated Edison's dividend payout ratio (DPR) is currently 61.71%.

Analyst Ratings Changes

A number of research firms recently commented on ED. Weiss Ratings reissued a "buy (b-)" rating on shares of Consolidated Edison in a research report on Wednesday, October 8th. Barclays cut their target price on shares of Consolidated Edison from $107.00 to $105.00 and set an "underweight" rating for the company in a research report on Tuesday. Morgan Stanley reduced their price target on Consolidated Edison from $95.00 to $93.00 and set an "underweight" rating for the company in a research report on Thursday, September 25th. New Street Research set a $106.00 price objective on shares of Consolidated Edison in a research note on Monday, October 6th. Finally, Bank of America cut shares of Consolidated Edison from a "buy" rating to an "underperform" rating and decreased their price target for the stock from $112.00 to $101.00 in a report on Friday, August 15th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Reduce" and an average target price of $105.75.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.