UMB Bank n.a. Has $665,000 Holdings in Consolidated Edison Inc $ED

Key Points

• UMB Bank n.a. has reduced its stake in Consolidated Edison Inc by 36.9%, now holding a total of 6,628 shares valued at approximately $665,000.
• Several institutions, including Merit Financial Group, have recently altered their positions, with some increasing their stakes, indicating ongoing interest in the company.
• Consolidated Edison reported a quarterly EPS of $0.67, exceeding expectations, while also announcing a quarterly dividend of $0.85 per share with an annual yield of 3.5%.

UMB Bank n.a. lessened its stake in Consolidated Edison Inc (NYSE:ED - Free Report) by 36.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,628 shares of the utilities provider's stock after selling 3,871 shares during the quarter. UMB Bank n.a.'s holdings in Consolidated Edison were worth $665,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Merit Financial Group LLC boosted its stake in shares of Consolidated Edison by 16.8% in the 1st quarter. Merit Financial Group LLC now owns 10,666 shares of the utilities provider's stock valued at $1,180,000 after purchasing an additional 1,533 shares during the last quarter. Ritholtz Wealth Management bought a new position in shares of Consolidated Edison in the 1st quarter valued at about $227,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Consolidated Edison by 2.8% in 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 purchasing an additional 6,869 shares during the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of Consolidated Edison in the 1st quarter valued at about $217,000. Finally, AG2R LA Mondiale Gestion D Actifs bought a new position in shares of Consolidated Edison in the 1st quarter valued at about $1,631,000. Institutional investors and hedge funds own 66.29% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Mizuho raised their target price on shares of Consolidated Edison from $107.00 to $112.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Bank of America lowered shares of Consolidated Edison from a "buy" rating to an "underperform" rating and reduced their target price for the company from $112.00 to $101.00 in a research note on Friday, August 15th. Barclays raised their target price on shares of Consolidated Edison from $101.00 to $107.00 and gave the company an "underweight" rating in a research note on Wednesday, August 13th. KeyCorp reissued an "overweight" rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Finally, Morgan Stanley reissued an "underweight" rating on shares of Consolidated Edison in a research note on Thursday, August 21st. Three 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 data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $105.82.

Consolidated Edison Price Performance

NYSE ED opened at $96.41 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a 12-month low of $87.28 and a 12-month high of $114.87. The company has a market capitalization of $34.77 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 2.68 and a beta of 0.28. The firm's 50 day moving average is $100.53 and its 200-day moving average is $103.74.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (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 company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period last year, the company earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities research analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

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

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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