Monashee Investment Management LLC Invests $1.66 Million in Consolidated Edison Inc $ED

Key Points

• Monashee Investment Management LLC invested $1.66 million in Consolidated Edison Inc by purchasing 15,000 shares in the 1st quarter.
• Consolidated Edison has received mixed analyst ratings, with three analysts giving a Buy rating and three giving a Sell rating, while the average price target sits at $105.82.
• The company announced a quarterly dividend of $0.85 per share, yielding 3.3%, with a payout ratio of 61.71% and the dividend to be paid on September 15th.

Monashee Investment Management LLC acquired a new stake in Consolidated Edison Inc (NYSE:ED - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 15,000 shares of the utilities provider's stock, valued at approximately $1,659,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Revolve Wealth Partners LLC grew its position in shares of Consolidated Edison by 13.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider's stock valued at $332,000 after purchasing an additional 441 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Consolidated Edison by 33.3% in the 4th quarter. NewEdge Advisors LLC now owns 21,584 shares of the utilities provider's stock worth $1,926,000 after purchasing an additional 5,387 shares during the period. Dimensional Fund Advisors LP boosted its stake in Consolidated Edison by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,314,463 shares of the utilities provider's stock worth $117,288,000 after purchasing an additional 38,630 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its holdings in Consolidated Edison by 146.1% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,227 shares of the utilities provider's stock valued at $1,269,000 after buying an additional 8,445 shares in the last quarter. Finally, Stifel Financial Corp increased its position in shares of Consolidated Edison by 4.1% during the fourth quarter. Stifel Financial Corp now owns 116,515 shares of the utilities provider's stock valued at $10,397,000 after buying an additional 4,625 shares during the period. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Stock Up 0.1%

NYSE:ED traded up $0.0520 during mid-day trading on Friday, hitting $101.5520. 2,753,050 shares of the company's stock were exchanged, compared to its average volume of 2,467,860. Consolidated Edison Inc has a one year low of $87.28 and a one year 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. The business has a fifty day moving average price of $101.54 and a 200 day moving average price of $103.76. The company has a market cap of $36.62 billion, a PE ratio of 18.43, a P/E/G ratio of 2.83 and a beta of 0.24.

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

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 13th. Consolidated Edison's payout ratio is 61.71%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ED shares. Mizuho upped their price target on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Morgan Stanley cut their price objective on shares of Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating for the company in a research note on Wednesday, June 18th. Scotiabank boosted their target price on Consolidated Edison from $101.00 to $106.00 and gave the company a "sector perform" rating in a research note on Monday, August 11th. Guggenheim raised their price target on Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Finally, Barclays raised their target price 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 investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $105.82.

Consolidated Edison Company 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.