MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 3,017 Shares of Consolidated Edison Inc $ED

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Consolidated Edison Inc by 8.3% after acquiring 3,017 shares, bringing its total shares to 39,349, valued at approximately $4.35 million.
• Research analysts have given mixed ratings to Consolidated Edison, with three analysts recommending a Buy, while the average rating is Hold with a consensus price target of $105.82.
• Consolidated Edison recently declared a quarterly dividend of $0.85, representing an annualized yield of 3.5%, with a payout ratio of 61.71%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Consolidated Edison Inc (NYSE:ED - Free Report) by 8.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,349 shares of the utilities provider's stock after acquiring an additional 3,017 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Consolidated Edison were worth $4,352,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in ED. Alpine Bank Wealth Management bought a new position in shares of Consolidated Edison in the first quarter valued at about $32,000. Fort Vancouver Investment Management LLC bought a new position in shares of Consolidated Edison in the first quarter valued at about $33,000. Financial Network Wealth Advisors LLC bought a new position in shares of Consolidated Edison in the first quarter valued at about $33,000. Cary Street Partners Investment Advisory LLC raised its holdings in shares of 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 buying an additional 120 shares during the last quarter. Finally, Wood Tarver Financial Group LLC bought a new position in Consolidated Edison in the 4th quarter worth approximately $35,000. 66.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ED shares. KeyCorp restated an "overweight" rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Morgan Stanley restated an "underweight" rating on shares of Consolidated Edison in a research report on Thursday, August 21st. Mizuho boosted their price objective on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Scotiabank boosted their price objective on shares of Consolidated Edison from $101.00 to $106.00 and gave the stock a "sector perform" rating in a research report on Monday, August 11th. Finally, Barclays boosted their price objective on shares of Consolidated Edison from $101.00 to $107.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 13th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $105.82.

Consolidated Edison Stock Performance

Shares of ED stock opened at $97.71 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 stock has a market cap of $35.24 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 2.70 and a beta of 0.28. The stock has a 50-day moving average of $100.97 and a 200-day moving average of $103.90. Consolidated Edison Inc has a one year low of $87.28 and a one year high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. The company had revenue of $3.60 billion during the quarter, compared to analysts' expectations of $3.39 billion. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.During the same period in the prior year, the business posted $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, sell-side analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th will be issued 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 payout ratio is 61.71%.

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.

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