Consolidated Edison Inc $ED Stock Holdings Lifted by Panagora Asset Management Inc.

Panagora Asset Management Inc. raised its position in shares of Consolidated Edison Inc (NYSE:ED) by 99.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,167 shares of the utilities provider’s stock after buying an additional 17,990 shares during the quarter. Panagora Asset Management Inc.’s holdings in Consolidated Edison were worth $3,629,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its position in Consolidated Edison by 4.5% during the second quarter. Vanguard Group Inc. now owns 45,040,811 shares of the utilities provider’s stock valued at $4,519,845,000 after purchasing an additional 1,923,717 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Consolidated Edison by 6.1% during the second quarter. Geode Capital Management LLC now owns 9,796,782 shares of the utilities provider’s stock valued at $979,204,000 after acquiring an additional 566,358 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Consolidated Edison by 1.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,868,772 shares of the utilities provider’s stock valued at $538,437,000 after buying an additional 48,323 shares during the last quarter. Norges Bank bought a new position in Consolidated Edison during the second quarter worth $462,218,000. Finally, Deutsche Bank AG raised its position in shares of 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 buying an additional 2,223,959 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Down 0.5%

Consolidated Edison stock opened at $96.43 on Thursday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.97 and a current ratio of 1.08. The stock has a market capitalization of $34.81 billion, a P/E ratio of 16.86, a PEG ratio of 2.84 and a beta of 0.37. Consolidated Edison Inc has a 52 week low of $87.28 and a 52 week high of $114.87. The stock has a 50-day simple moving average of $99.69 and a 200 day simple moving average of $100.53.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, November 6th. The utilities provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.76 by $0.14. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.79%. During the same quarter in the prior year, the business posted $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Wednesday, November 19th. Consolidated Edison’s dividend payout ratio is presently 59.44%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ED. KeyCorp raised their price target on shares of Consolidated Edison from $88.00 to $90.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 15th. Morgan Stanley reissued an “underweight” rating and set a $98.00 price objective on shares of Consolidated Edison in a report on Thursday, November 20th. New Street Research set a $106.00 target price on Consolidated Edison in a research report on Monday, October 6th. Scotiabank raised their price objective on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a research note on Monday, August 11th. Finally, Barclays reduced their target price on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a report on Monday, November 10th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $104.58.

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.