Machina Capital S.A.S. Acquires Shares of 29,170 Consolidated Edison Inc $ED

Machina Capital S.A.S. acquired a new stake in shares of Consolidated Edison Inc (NYSE:ED) in the second quarter, Holdings Channel reports. The firm acquired 29,170 shares of the utilities provider’s stock, valued at approximately $2,927,000.

Other hedge funds have also recently modified their holdings of the company. AG2R LA Mondiale Gestion D Actifs bought a new stake in Consolidated Edison during the first quarter valued at about $1,631,000. RDA Financial Network bought a new stake in Consolidated Edison during the second quarter valued at about $367,000. Nordea Investment Management AB grew its holdings in Consolidated Edison by 11.4% during the second quarter. Nordea Investment Management AB now owns 19,850 shares of the utilities provider’s stock valued at $1,973,000 after purchasing an additional 2,027 shares during the period. Wesbanco Bank Inc. grew its holdings in Consolidated Edison by 39.8% during the second quarter. Wesbanco Bank Inc. now owns 11,305 shares of the utilities provider’s stock valued at $1,134,000 after purchasing an additional 3,218 shares during the period. Finally, Jacobi Capital Management LLC grew its holdings in Consolidated Edison by 37.4% during the first quarter. Jacobi Capital Management LLC now owns 3,530 shares of the utilities provider’s stock valued at $390,000 after purchasing an additional 961 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Consolidated Edison in a research note on Wednesday, October 8th. New Street Research set a $106.00 price objective on Consolidated Edison in a research note on Monday, October 6th. Barclays dropped their price target on Consolidated Edison from $107.00 to $105.00 and set an “underweight” rating for the company in a research note on Tuesday, October 21st. Scotiabank increased their price target on 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, Mizuho increased their price target on Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $105.08.

Consolidated Edison Price Performance

ED stock opened at $97.44 on Monday. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The company has a 50-day moving average price of $98.94 and a 200 day moving average price of $102.04. The stock has a market cap of $35.14 billion, a PE ratio of 17.68, a P/E/G ratio of 2.70 and a beta of 0.32.

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

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th 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, November 19th. Consolidated Edison’s dividend payout ratio is presently 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.