RDA Financial Network Acquires Shares of 3,660 Consolidated Edison Inc $ED

Key Points

• RDA Financial Network made a new investment of $367,000 in Consolidated Edison Inc, acquiring 3,660 shares during the second quarter.
• Consolidated Edison recently reported earnings of $0.67 per share for the quarter, slightly exceeding analyst expectations, along with a revenue of $3.60 billion.
• The company declared a quarterly dividend of $0.85 per share, resulting in an annualized dividend of $3.40 and a yield of 3.5%, with a payout ratio of 61.71%.

RDA Financial Network purchased a new stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,660 shares of the utilities provider's stock, valued at approximately $367,000.

Other hedge funds have also recently bought and sold shares of the company. ATLAS Infrastructure Partners UK Ltd. purchased a new position in Consolidated Edison in the 1st quarter worth about $254,205,000. Deutsche Bank AG raised its stake in shares of Consolidated Edison by 130.6% in 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 in 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 Consolidated Edison in the 1st quarter worth approximately $146,073,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Consolidated Edison by 215.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,688,480 shares of the utilities provider's stock valued at $186,730,000 after purchasing an additional 1,152,892 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Up 0.1%

Shares of ED traded up $0.11 during trading hours on Friday, reaching $96.46. The company's stock had a trading volume of 771,820 shares, compared to its average volume of 2,700,620. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year high of $114.87. The firm has a market cap of $34.79 billion, a price-to-earnings ratio of 17.50, a P/E/G ratio of 2.68 and a beta of 0.28. 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 $100.61 and a two-hundred day moving average of $103.74.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.01. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.39 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same quarter in the previous 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, research analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th were paid a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $3.40 annualized dividend and a yield of 3.5%. Consolidated Edison's payout ratio is 61.71%.

Wall Street Analyst Weigh In

Several analysts recently commented on ED shares. Scotiabank boosted their price target 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. KeyCorp reiterated an "overweight" rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Morgan Stanley restated an "underweight" rating on shares of Consolidated Edison in a report on Thursday, August 21st. Mizuho increased their price target on Consolidated Edison from $107.00 to $112.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Finally, Barclays increased their price objective on Consolidated Edison from $101.00 to $107.00 and gave the stock an "underweight" rating in a report on Wednesday, August 13th. Three equities 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 MarketBeat, Consolidated Edison presently has a consensus rating of "Hold" and an average price target 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.