Consolidated Edison Inc $ED Stock Position Raised by United Asset Strategies Inc.

Key Points

• United Asset Strategies Inc. increased its stake in Consolidated Edison Inc. by 46.5% during the first quarter, now owning 9,459 shares worth approximately $1,046,000.
• The company reported $0.67 EPS for the most recent quarter, exceeding analyst expectations, with revenue of $3.60 billion compared to projected figures of $3.39 billion.
• Consolidated Edison declared a quarterly dividend of $0.85 per share, resulting in an annualized yield of 3.4% and a payout ratio of 61.71%.

United Asset Strategies Inc. raised its holdings in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 46.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,459 shares of the utilities provider's stock after acquiring an additional 3,004 shares during the period. United Asset Strategies Inc.'s holdings in Consolidated Edison were worth $1,046,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Revolve Wealth Partners LLC lifted its stake in shares of Consolidated Edison by 13.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider's stock worth $332,000 after acquiring an additional 441 shares during the period. Dimensional Fund Advisors LP lifted its position in Consolidated Edison by 3.0% in the fourth 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. Stifel Financial Corp lifted its position in Consolidated Edison by 4.1% in the fourth quarter. Stifel Financial Corp now owns 116,515 shares of the utilities provider's stock worth $10,397,000 after purchasing an additional 4,625 shares during the period. Dark Forest Capital Management LP lifted its position in Consolidated Edison by 238.4% in the fourth quarter. Dark Forest Capital Management LP now owns 10,030 shares of the utilities provider's stock worth $895,000 after purchasing an additional 7,066 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Consolidated Edison by 1.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 535,588 shares of the utilities provider's stock worth $47,792,000 after purchasing an additional 7,407 shares during the period. Institutional investors own 66.29% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ED shares. Scotiabank upped their target price on Consolidated Edison from $101.00 to $106.00 and gave the stock a "sector perform" rating in a research report on Monday, August 11th. Morgan Stanley cut their target price on Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating for the company in a research report on Wednesday, June 18th. KeyCorp restated an "overweight" rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Barclays upped their target price on Consolidated Edison from $101.00 to $107.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 13th. Finally, Bank of America cut shares of Consolidated Edison from a "buy" rating to an "underperform" rating and reduced their target price for the stock from $112.00 to $101.00 in a report on Friday, August 15th. Three research 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $105.82.

Consolidated Edison Trading Up 0.1%

Shares of Consolidated Edison stock traded up $0.0520 during trading on Friday, hitting $101.5520. The stock had a trading volume of 2,753,050 shares, compared to its average volume of 2,536,725. The stock has a 50 day simple moving average of $101.54 and a 200 day simple moving average of $103.82. The company has a market capitalization of $36.62 billion, a PE ratio of 18.43, a P/E/G ratio of 2.83 and a beta of 0.24. 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 1 year low of $87.28 and a 1 year high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last released its earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.01. The business 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 period last year, the firm posted $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, research analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

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