7,947 Shares in Consolidated Edison Inc $ED Acquired by United Services Automobile Association

Key Points

• United Services Automobile Association acquired a new stake in Consolidated Edison Inc, purchasing 7,947 shares valued at approximately $864,000.
• Consolidated Edison recently announced a quarterly dividend of $0.85, with a yield of 3.5%, to be paid on September 15th.
• Analysts have raised various price targets for Consolidated Edison, with Barclays increasing their target from $101.00 to $107.00, while Bank of America lowered theirs from $112.00 to $101.00.

United Services Automobile Association acquired a new stake in Consolidated Edison Inc (NYSE:ED - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,947 shares of the utilities provider's stock, valued at approximately $864,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Consolidated Edison by 1.6% in the first quarter. Vanguard Group Inc. now owns 43,117,094 shares of the utilities provider's stock valued at $4,768,319,000 after acquiring an additional 661,432 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Consolidated Edison by 6.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,820,449 shares of the utilities provider's stock valued at $430,129,000 after acquiring an additional 271,088 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Consolidated Edison by 130.6% in the first 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 holdings in shares of Consolidated Edison by 106.9% in the first 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. Finally, ATLAS Infrastructure Partners UK Ltd. bought a new position in Consolidated Edison in the first quarter worth about $254,205,000. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Down 0.2%

Shares of ED traded down $0.16 during mid-day trading on Friday, hitting $97.54. 1,249,436 shares of the company traded hands, compared to its average volume of 2,732,903. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year high of $114.87. 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 market capitalization of $35.18 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 2.70 and a beta of 0.28. The business has a 50 day moving average of $100.97 and a 200 day moving average of $103.90.

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 the consensus estimate 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 prior year, the company posted $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 EPS for the current year.

Consolidated Edison Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have commented on ED shares. KeyCorp reiterated an "overweight" rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Bank of America downgraded 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. Barclays boosted their target price on shares of Consolidated Edison from $101.00 to $107.00 and gave the stock an "underweight" rating in a report on Wednesday, August 13th. Mizuho boosted their target price on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Finally, Scotiabank boosted their target price on shares of Consolidated Edison from $101.00 to $106.00 and gave the stock a "sector perform" rating in a report on Monday, August 11th. 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 MarketBeat, Consolidated Edison currently has an average rating of "Hold" and a consensus 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.