Consolidated Edison Inc $ED Stock Holdings Increased by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. grew its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 2.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 218,428 shares of the utilities provider’s stock after acquiring an additional 4,534 shares during the quarter. Resona Asset Management Co. Ltd. owned about 0.06% of Consolidated Edison worth $21,840,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Atlantic Union Bankshares Corp raised its stake in shares of Consolidated Edison by 46.7% during the second quarter. Atlantic Union Bankshares Corp now owns 3,714 shares of the utilities provider’s stock valued at $373,000 after purchasing an additional 1,183 shares in the last quarter. Crestwood Advisors Group LLC increased its stake in Consolidated Edison by 10.1% during the 2nd quarter. Crestwood Advisors Group LLC now owns 5,412 shares of the utilities provider’s stock valued at $543,000 after buying an additional 496 shares during the period. Rockline Wealth Management LLC raised its position in shares of Consolidated Edison by 27.8% during the 2nd quarter. Rockline Wealth Management LLC now owns 9,582 shares of the utilities provider’s stock worth $962,000 after buying an additional 2,085 shares in the last quarter. Key Financial Inc lifted its stake in shares of Consolidated Edison by 2.8% in the 2nd quarter. Key Financial Inc now owns 4,658 shares of the utilities provider’s stock worth $467,000 after acquiring an additional 125 shares during the period. Finally, Bridgewater Advisors Inc. lifted its stake in shares of Consolidated Edison by 16.4% in the 2nd quarter. Bridgewater Advisors Inc. now owns 6,423 shares of the utilities provider’s stock worth $657,000 after acquiring an additional 905 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Trading Up 0.8%

Shares of NYSE ED opened at $96.89 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87. The company has a market cap of $34.94 billion, a price-to-earnings ratio of 17.58, a P/E/G ratio of 2.70 and a beta of 0.32. The business has a fifty day simple moving average of $98.74 and a 200-day simple moving average of $101.76.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results 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. The firm had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.22 billion. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.During the same quarter last year, the business posted $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Sell-side analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The company 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 dividend of $0.85 per share. The ex-dividend date is Wednesday, November 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.5%. Consolidated Edison’s payout ratio is currently 61.71%.

Analyst Ratings Changes

A number of research analysts recently commented on ED shares. 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. Evercore ISI began coverage on Consolidated Edison in a research report on Tuesday, October 7th. They set an “in-line” rating and a $106.00 price target on the stock. Barclays dropped their price objective on Consolidated Edison from $107.00 to $105.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 21st. New Street Research set a $106.00 target price on Consolidated Edison in a research note on Monday, October 6th. Finally, Morgan Stanley lifted their target price on Consolidated Edison from $93.00 to $100.00 and gave the stock an “underweight” rating in a report on Wednesday, October 22nd. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price 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.