Mediolanum International Funds Ltd Has $1.42 Million Position in Consolidated Edison Inc $ED

Mediolanum International Funds Ltd boosted its stake in shares of Consolidated Edison Inc (NYSE:ED) by 65.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,502 shares of the utilities provider’s stock after acquiring an additional 5,742 shares during the period. Mediolanum International Funds Ltd’s holdings in Consolidated Edison were worth $1,423,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Neo Ivy Capital Management bought a new position in shares of Consolidated Edison in the second quarter worth $2,534,000. DNB Asset Management AS grew its stake in Consolidated Edison by 0.4% during the second quarter. DNB Asset Management AS now owns 142,567 shares of the utilities provider’s stock worth $14,307,000 after buying an additional 618 shares in the last quarter. Magnetar Financial LLC bought a new position in Consolidated Edison in the 2nd quarter valued at about $8,893,000. Northstar Financial Companies Inc. raised its position in shares of Consolidated Edison by 54.4% in the 2nd quarter. Northstar Financial Companies Inc. now owns 12,046 shares of the utilities provider’s stock valued at $1,209,000 after buying an additional 4,245 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of Consolidated Edison by 11.6% in the 2nd quarter. Swiss National Bank now owns 1,090,400 shares of the utilities provider’s stock valued at $109,422,000 after buying an additional 113,300 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Down 1.1%

Shares of NYSE:ED opened at $99.86 on Monday. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week high of $114.87. The company has a market capitalization of $36.04 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 2.70 and a beta of 0.32. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. The company has a fifty day moving average of $99.41 and a 200-day moving average of $100.79.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.14. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.During the same quarter last year, the company posted $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, equities analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.4%. Consolidated Edison’s dividend payout ratio is currently 59.44%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Scotiabank lifted 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Consolidated Edison in a report on Monday, November 17th. Bank of America lowered Consolidated Edison from a “buy” rating to an “underperform” rating and decreased their price target for the company from $112.00 to $101.00 in a research note on Friday, August 15th. KeyCorp upped their price objective on Consolidated Edison from $88.00 to $90.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 15th. Finally, Barclays reduced their price objective on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a research note on Monday, November 10th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock currently has an average 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.