MBB Public Markets I LLC Makes New $328,000 Investment in Consolidated Edison Inc $ED

Key Points

• MBB Public Markets I LLC has acquired a new stake in Consolidated Edison Inc valued at approximately $328,000 by purchasing 2,962 shares in the first quarter.
• The company reported a quarterly earnings per share of $0.67, surpassing analysts' expectations of $0.66, alongside a revenue of $3.60 billion.
• Consolidated Edison announced a quarterly dividend of $0.85 per share, yielding around 3.5%, scheduled to be paid on September 15th.

MBB Public Markets I LLC purchased a new position in Consolidated Edison Inc (NYSE:ED - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,962 shares of the utilities provider's stock, valued at approximately $328,000.

Other large investors have also recently made changes to their positions in the company. Glen Eagle Advisors LLC lifted its holdings in Consolidated Edison by 6.2% during the 4th quarter. Glen Eagle Advisors LLC now owns 1,902 shares of the utilities provider's stock worth $170,000 after buying an additional 111 shares during the last quarter. Western Wealth Management LLC raised its position in shares of Consolidated Edison by 0.7% during the 1st quarter. Western Wealth Management LLC now owns 16,101 shares of the utilities provider's stock worth $1,781,000 after acquiring an additional 116 shares in the last quarter. Eastern Bank lifted its stake in Consolidated Edison by 2.9% during the first quarter. Eastern Bank now owns 4,294 shares of the utilities provider's stock worth $475,000 after purchasing an additional 120 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in Consolidated Edison by 64.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider's stock valued at $34,000 after purchasing an additional 120 shares during the last quarter. Finally, Integrated Advisors Network LLC raised its holdings in Consolidated Edison by 1.6% during the first quarter. Integrated Advisors Network LLC now owns 7,842 shares of the utilities provider's stock worth $867,000 after purchasing an additional 121 shares in the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ED. Bank of America downgraded shares of Consolidated Edison from a "buy" rating to an "underperform" rating and dropped their target price for the company from $112.00 to $101.00 in a research report on Friday, August 15th. Barclays lifted their target price on Consolidated Edison from $101.00 to $107.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 13th. Mizuho upped their target price on Consolidated Edison from $107.00 to $112.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Morgan Stanley restated an "underweight" rating on shares of Consolidated Edison in a research note on Thursday, August 21st. Finally, KeyCorp reissued 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 has a consensus rating of "Hold" and a consensus target price of $105.82.

Consolidated Edison Stock Performance

ED traded down $0.16 on Friday, hitting $97.54. 1,249,436 shares of the company traded hands, compared to its average volume of 2,634,055. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. The company has a 50 day moving average of $100.92 and a 200-day moving average of $103.90. Consolidated Edison Inc has a 12-month low of $87.28 and a 12-month high of $114.87. The stock has a market capitalization of $35.18 billion, a PE ratio of 17.70, a PEG ratio of 2.72 and a beta of 0.28.

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 (EPS) 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 analysts' expectations 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 company posted $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Sell-side analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm also recently announced 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 is Wednesday, August 13th. This represents a $3.40 annualized dividend and a yield of 3.5%. Consolidated Edison's 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.