Robeco Institutional Asset Management B.V. Raises Stock Holdings in Consolidated Edison Inc $ED

Key Points

• Robeco Institutional Asset Management B.V. increased its stake in Consolidated Edison Inc by 103.7% during the second quarter, now owning 1,327,643 shares valued at approximately $133.2 million.
• Several analysts have raised their price targets for Consolidated Edison, with Barclays adjusting it from $101.00 to $107.00 while maintaining an "underweight" rating.
• Consolidated Edison announced a quarterly dividend of $0.85 per share, resulting in an annual yield of 3.5% and a payout ratio of 61.71%.

Robeco Institutional Asset Management B.V. raised its position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 103.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,327,643 shares of the utilities provider's stock after acquiring an additional 675,852 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.37% of Consolidated Edison worth $133,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Merit Financial Group LLC raised its holdings in Consolidated Edison by 16.8% during the 1st quarter. Merit Financial Group LLC now owns 10,666 shares of the utilities provider's stock valued at $1,180,000 after buying an additional 1,533 shares during the period. Ritholtz Wealth Management purchased a new stake in Consolidated Edison during the 1st quarter valued at $227,000. Wealth Enhancement Advisory Services LLC raised its holdings in Consolidated Edison by 2.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 250,014 shares of the utilities provider's stock valued at $27,649,000 after buying an additional 6,869 shares during the period. Flagship Harbor Advisors LLC purchased a new stake in Consolidated Edison during the 1st quarter valued at $217,000. Finally, AG2R LA Mondiale Gestion D Actifs purchased a new stake in Consolidated Edison during the 1st quarter valued at $1,631,000. Hedge funds and other institutional investors own 66.29% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on ED shares. Barclays increased their price target on Consolidated Edison from $101.00 to $107.00 and gave the company an "underweight" rating in a report on Wednesday, August 13th. Scotiabank increased their price target on Consolidated Edison from $101.00 to $106.00 and gave the company a "sector perform" rating in a report on Monday, August 11th. KeyCorp reiterated an "overweight" rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Mizuho increased their target price on Consolidated Edison from $107.00 to $112.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Finally, Morgan Stanley reduced their target price on Consolidated Edison from $95.00 to $93.00 and set an "underweight" rating on the stock in a research note on Thursday, September 25th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Consolidated Edison presently has an average rating of "Hold" and an average target price of $105.91.

Consolidated Edison Price Performance

ED opened at $98.16 on Thursday. Consolidated Edison Inc has a 12-month low of $87.28 and a 12-month high of $114.87. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The business's fifty day simple moving average is $100.10 and its 200-day simple moving average is $103.43. The company has a market capitalization of $35.40 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 2.79 and a beta of 0.32.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.01. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the prior year, the company earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, equities research analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Wednesday, August 13th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $3.40 dividend on an annualized basis and a yield of 3.5%. Consolidated Edison's dividend payout ratio (DPR) is presently 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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