Jump Financial LLC Grows Position in Consolidated Edison Inc $ED

Key Points

• Jump Financial LLC increased its stake in Consolidated Edison Inc by 72.2%, totaling 118,285 shares worth approximately $13.08 million as of the latest filing with the SEC.
• Consolidated Edison reported a net margin of 11.98% and EPS of $0.67 for the last quarter, surpassing analysts' expectations of $0.66, with estimated revenues of $3.60 billion.
• The company declared a quarterly dividend of $0.85 per share, resulting in an annualized yield of 3.3%, with a current dividend payout ratio of 61.71%.

Jump Financial LLC lifted its holdings in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 72.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 118,285 shares of the utilities provider's stock after purchasing an additional 49,614 shares during the quarter. Jump Financial LLC's holdings in Consolidated Edison were worth $13,081,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Alpine Bank Wealth Management purchased a new position in shares of Consolidated Edison during the 1st quarter worth $32,000. Fort Vancouver Investment Management LLC purchased a new position in shares of Consolidated Edison during the 1st quarter worth $33,000. Financial Network Wealth Advisors LLC purchased a new position in shares of Consolidated Edison during the 1st quarter worth $33,000. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Consolidated Edison by 64.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider's stock worth $34,000 after purchasing an additional 120 shares during the period. Finally, Wood Tarver Financial Group LLC purchased a new position in shares of Consolidated Edison during the 4th quarter worth $35,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Price Performance

ED stock opened at $101.5520 on Friday. 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 firm has a market capitalization of $36.62 billion, a P/E ratio of 18.43, a P/E/G ratio of 2.83 and a beta of 0.24. The business's 50-day moving average is $101.54 and its two-hundred day moving average is $103.76. 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 posted its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 8.56% and a net margin of 11.98%.During the same quarter last year, the company earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders 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 dividend on an annualized basis and a yield of 3.3%. Consolidated Edison's dividend payout ratio (DPR) is currently 61.71%.

Analysts Set New Price Targets

A number of brokerages recently commented on ED. Guggenheim raised their target price on Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Wells Fargo & Company raised their target price on Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Scotiabank raised their target price on Consolidated Edison from $101.00 to $106.00 and gave the company a "sector perform" rating in a report on Monday, August 11th. Mizuho raised their target price on Consolidated Edison from $107.00 to $112.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Finally, KeyCorp restated an "overweight" rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $105.82.

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.

Want to see what other hedge funds are holding ED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Consolidated Edison Inc (NYSE:ED - Free Report).

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.