QRG Capital Management Inc. Has $33.86 Million Stock Holdings in Consolidated Edison Inc $ED

Key Points

• QRG Capital Management Inc. increased its stock holdings in Consolidated Edison Inc by 5.0%, owning approximately 0.09% of the company worth around $33.86 million.
• Several institutional investors have significantly raised their stakes in Consolidated Edison, with Deutsche Bank AG increasing holdings by 130.6% and Price T Rowe Associates Inc. lifting theirs by 215.3% in the first quarter.
• Consolidated Edison recently reported a quarterly earnings per share (EPS) of $0.67, surpassing analyst expectations, and declared a quarterly dividend of $0.85 per share, offering a 3.4% yield.

QRG Capital Management Inc. lifted its holdings in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 5.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 337,403 shares of the utilities provider's stock after purchasing an additional 16,167 shares during the quarter. QRG Capital Management Inc. owned approximately 0.09% of Consolidated Edison worth $33,858,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ED. ATLAS Infrastructure Partners UK Ltd. bought a new position in Consolidated Edison during the first quarter valued at about $254,205,000. 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 valued at $434,266,000 after acquiring an additional 2,223,959 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Consolidated Edison by 106.9% in the 1st quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider's stock valued at $308,643,000 after acquiring an additional 1,441,785 shares in the last quarter. Nuveen LLC bought a new position in shares of Consolidated Edison in the 1st quarter valued at approximately $146,073,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Consolidated Edison by 215.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,688,480 shares of the utilities provider's stock worth $186,730,000 after purchasing an additional 1,152,892 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company's stock.

Consolidated Edison Stock Performance

NYSE ED opened at $98.83 on Friday. The company's fifty day moving average is $99.95 and its two-hundred day moving average is $103.29. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week 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 firm has a market capitalization of $35.64 billion, a price-to-earnings ratio of 17.94, a P/E/G ratio of 2.71 and a beta of 0.32.

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, 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 analyst estimates of $3.39 billion. During the same quarter in the prior year, the business earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities research analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Wednesday, August 13th. Consolidated Edison's dividend payout ratio (DPR) is presently 61.71%.

Wall Street Analyst Weigh In

Several equities analysts have commented on ED shares. Bank of America downgraded Consolidated Edison from a "buy" rating to an "underperform" rating and lowered their price target for the company from $112.00 to $101.00 in a report on Friday, August 15th. Morgan Stanley lowered their target price on shares of Consolidated Edison from $95.00 to $93.00 and set an "underweight" rating on the stock in a research note on Thursday, September 25th. Weiss Ratings reissued a "buy (b-)" rating on shares of Consolidated Edison in a research report on Saturday, September 27th. Barclays raised their price target on Consolidated Edison from $101.00 to $107.00 and gave the company an "underweight" rating in a research report on Wednesday, August 13th. Finally, KeyCorp reissued an "overweight" rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Four equities 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 stock. Based on data from MarketBeat, Consolidated Edison has a consensus rating of "Hold" and a consensus target price of $105.91.

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.

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