Plato Investment Management Ltd Has $2.56 Million Stock Holdings in Consolidated Edison Inc $ED

Plato Investment Management Ltd boosted its position in Consolidated Edison Inc (NYSE:ED) by 0.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,930 shares of the utilities provider’s stock after buying an additional 210 shares during the quarter. Plato Investment Management Ltd’s holdings in Consolidated Edison were worth $2,563,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Alpine Bank Wealth Management acquired a new stake in Consolidated Edison in the 1st quarter valued at approximately $32,000. Fort Vancouver Investment Management LLC acquired a new stake in Consolidated Edison in the 1st quarter valued at approximately $33,000. Financial Network Wealth Advisors LLC acquired a new stake in Consolidated Edison in the 1st quarter valued at approximately $33,000. Cary Street Partners Investment Advisory LLC raised its position in Consolidated Edison by 64.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock valued at $34,000 after buying an additional 120 shares during the last quarter. Finally, Wood Tarver Financial Group LLC acquired a new stake in Consolidated Edison in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

ED has been the topic of several recent analyst reports. Scotiabank boosted their price target 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. Barclays boosted their price target on Consolidated Edison from $101.00 to $107.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 13th. KeyCorp reaffirmed an “overweight” rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Morgan Stanley reaffirmed an “underweight” rating on shares of Consolidated Edison in a research report on Thursday, August 21st. Finally, Bank of America lowered Consolidated Edison from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $112.00 to $101.00 in a research report on Friday, August 15th. Three equities 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $105.82.

Consolidated Edison Price Performance

NYSE:ED opened at $97.05 on Thursday. Consolidated Edison Inc has a one year low of $87.28 and a one year high of $114.87. The company has a market cap of $35.00 billion, a P/E ratio of 17.61, a P/E/G ratio of 2.69 and a beta of 0.28. The firm’s fifty day moving average price is $101.02 and its two-hundred day moving average price is $103.91. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. The firm 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 company earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Wednesday, August 13th. Consolidated Edison’s 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.