Korea Investment CORP Has $28.52 Million Position in Consolidated Edison Inc $ED

Key Points

• Korea Investment CORP increased its stake in Consolidated Edison Inc by 8.8%, owning a total of 257,869 shares valued at approximately $28.52 million as of its latest SEC filing.
• The company reported earnings per share of $0.67 for the last quarter, surpassing analysts' estimates of $0.66 with total revenues of $3.60 billion.
• The firm's quarterly dividend of $0.85 will be paid on September 15th, translating to an annual yield of 3.4% based on a payout ratio of 61.71%.

Korea Investment CORP lifted its holdings in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 8.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 257,869 shares of the utilities provider's stock after buying an additional 20,835 shares during the period. Korea Investment CORP owned approximately 0.07% of Consolidated Edison worth $28,518,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Consolidated Edison by 1.6% during the 1st 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in 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 valued at $430,129,000 after purchasing an additional 271,088 shares during the last quarter. Northern Trust Corp increased its stake in shares of Consolidated Edison by 10.2% during the 4th quarter. Northern Trust Corp now owns 4,207,753 shares of the utilities provider's stock valued at $375,458,000 after acquiring an additional 390,708 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of Consolidated Edison by 130.6% during 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. Finally, JPMorgan Chase & Co. increased its stake in 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 acquiring an additional 1,441,785 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Morgan Stanley lowered their price target on shares of Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating for the company in a report on Wednesday, June 18th. Guggenheim boosted their target price on shares of Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Wells Fargo & Company upped their price objective on shares of Consolidated Edison from $103.00 to $114.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Scotiabank upped their price target 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. Finally, KeyCorp reiterated an "overweight" rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $105.82.

Consolidated Edison Price Performance

Shares of NYSE ED traded up $0.0520 during mid-day trading on Friday, hitting $101.5520. 2,753,050 shares of the stock were exchanged, compared to its average volume of 2,467,860. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. The company has a market cap of $36.62 billion, a P/E ratio of 18.43, a PEG ratio of 2.82 and a beta of 0.24. The stock's fifty day simple moving average is $101.54 and its two-hundred day simple moving average is $103.71. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, topping 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 firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same period last year, the company earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company 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 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 3.3%. Consolidated Edison's dividend payout ratio is 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.