58,352 Shares in Consolidated Edison Inc $ED Purchased by Graham Capital Management L.P.

Key Points

• Graham Capital Management L.P. acquired 58,352 shares of Consolidated Edison Inc, valued at approximately $6.45 million, during the first quarter.
• Consolidated Edison recently reported a quarterly earnings per share (EPS) of $0.67, exceeding analysts' expectations of $0.66, along with a net margin of 11.98%.
• The company announced a quarterly dividend of $0.85 per share, with an annualized dividend yield of 3.5%, further reflecting its financial health and shareholder return strategy.

Graham Capital Management L.P. bought a new position in Consolidated Edison Inc (NYSE:ED - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 58,352 shares of the utilities provider's stock, valued at approximately $6,453,000.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Consolidated Edison by 1.6% in the first quarter. Vanguard Group Inc. now owns 43,117,094 shares of the utilities provider's stock worth $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 raised its stake in shares of Consolidated Edison by 6.0% in 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 acquiring an additional 271,088 shares during the last quarter. Deutsche Bank AG raised its stake 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 buying an additional 2,223,959 shares during the last quarter. JPMorgan Chase & Co. raised its stake 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 worth $308,643,000 after buying an additional 1,441,785 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Consolidated Edison by 2.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,271,594 shares of the utilities provider's stock worth $251,216,000 after buying an additional 45,605 shares during the last quarter. 66.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ED shares. Morgan Stanley reissued an "underweight" rating on shares of Consolidated Edison in a research note on Thursday, August 21st. Scotiabank boosted their price objective on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a "sector perform" rating in a report on Monday, August 11th. Mizuho boosted their price objective on shares of Consolidated Edison from $107.00 to $112.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Barclays boosted their price objective on shares of Consolidated Edison from $101.00 to $107.00 and gave the company an "underweight" rating in a report on Wednesday, August 13th. Finally, KeyCorp reiterated an "overweight" rating on shares of Consolidated Edison in a report on Wednesday, July 16th. 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 MarketBeat.com, Consolidated Edison has an average rating of "Hold" and an average target price of $105.82.

Consolidated Edison Stock Performance

ED stock traded down $0.10 during trading hours on Thursday, reaching $97.75. The stock had a trading volume of 2,033,299 shares, compared to its average volume of 2,772,532. The stock has a market capitalization of $35.25 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 2.73 and a beta of 0.28. The stock has a 50-day simple moving average of $101.24 and a 200 day simple moving average of $103.87. Consolidated Edison Inc has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. 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 (NYSE:ED - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. The company had revenue of $3.60 billion for 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 prior year, the firm earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

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

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.