Bey Douglas LLC Boosts Holdings in Consolidated Edison Inc $ED

Bey Douglas LLC raised its stake in shares of Consolidated Edison Inc (NYSE:ED) by 31.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,428 shares of the utilities provider’s stock after purchasing an additional 580 shares during the period. Bey Douglas LLC’s holdings in Consolidated Edison were worth $244,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ED. ATLAS Infrastructure Partners UK Ltd. purchased a new position in Consolidated Edison during the first quarter valued at $254,205,000. Deutsche Bank AG lifted its holdings in Consolidated Edison by 130.6% during the first quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider’s stock valued at $434,266,000 after purchasing an additional 2,223,959 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Consolidated Edison by 106.9% during the first quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider’s stock valued at $308,643,000 after purchasing an additional 1,441,785 shares in the last quarter. Nuveen LLC purchased a new position in Consolidated Edison during the first quarter valued at $146,073,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in 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 in the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Barclays raised their price target on shares of Consolidated Edison from $101.00 to $107.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 13th. New Street Research set a $106.00 price target on shares of Consolidated Edison in a research note on Monday. Scotiabank raised their price target on shares of Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research note on Monday, August 11th. Evercore ISI assumed coverage on shares of Consolidated Edison in a research note on Tuesday. They issued an “in-line” rating and a $106.00 price target on the stock. Finally, KeyCorp reissued an “overweight” rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $105.75.

Consolidated Edison Price Performance

Shares of ED stock opened at $102.36 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01. The firm’s 50-day moving average is $99.73 and its two-hundred day moving average is $103.06. 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 $36.92 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 2.80 and a beta of 0.32.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, topping 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 in the previous year, the firm earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th were paid 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 3.3%. Consolidated Edison’s payout ratio is 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.