Tredje AP fonden Buys Shares of 100,090 Consolidated Edison Inc $ED

Tredje AP fonden bought a new stake in shares of Consolidated Edison Inc (NYSE:ED) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 100,090 shares of the utilities provider’s stock, valued at approximately $10,044,000.

A number of other large investors also recently added to or reduced their stakes in ED. Revolve Wealth Partners LLC lifted its position in Consolidated Edison by 13.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock valued at $332,000 after purchasing an additional 441 shares during the period. Pinnacle Financial Partners Inc acquired a new position in Consolidated Edison during the 1st quarter valued at about $256,000. First Horizon Advisors Inc. lifted its position in Consolidated Edison by 19.2% during the 1st quarter. First Horizon Advisors Inc. now owns 2,419 shares of the utilities provider’s stock valued at $268,000 after purchasing an additional 390 shares during the period. Principal Financial Group Inc. lifted its position in Consolidated Edison by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 473,350 shares of the utilities provider’s stock valued at $52,348,000 after purchasing an additional 12,476 shares during the period. Finally, D.A. Davidson & CO. raised its position in shares of Consolidated Edison by 55.1% in the 1st quarter. D.A. Davidson & CO. now owns 17,295 shares of the utilities provider’s stock valued at $1,913,000 after acquiring an additional 6,145 shares during the period. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

NYSE ED opened at $97.44 on Friday. The business has a 50 day simple moving average of $98.94 and a 200 day simple moving average of $102.11. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week high of $114.87. 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 stock has a market cap of $35.14 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 2.70 and a beta of 0.32.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the prior year, the business earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors 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 of this dividend is Wednesday, November 19th. Consolidated Edison’s dividend payout ratio is presently 61.71%.

Wall Street Analyst Weigh In

ED has been the topic of a number of analyst reports. Morgan Stanley increased their price target on shares of Consolidated Edison from $93.00 to $100.00 and gave the company an “underweight” rating in a research report on Wednesday, October 22nd. New Street Research set a $106.00 price target on shares of Consolidated Edison in a research report on Monday, October 6th. Bank of America downgraded shares of Consolidated Edison from a “buy” rating to an “underperform” rating and cut their price target for the company from $112.00 to $101.00 in a research report on Friday, August 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a research report on Wednesday, October 8th. Finally, Evercore ISI initiated coverage on shares of Consolidated Edison in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 price target on the stock. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $105.08.

Consolidated Edison 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.