AlphaQuest LLC Grows Stock Holdings in Consolidated Edison Inc $ED

AlphaQuest LLC increased its position in Consolidated Edison Inc (NYSE:ED) by 673.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,219 shares of the utilities provider’s stock after purchasing an additional 15,863 shares during the quarter. AlphaQuest LLC’s holdings in Consolidated Edison were worth $1,828,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ED. ATLAS Infrastructure Partners UK Ltd. acquired a new stake in Consolidated Edison in the first quarter valued at $254,205,000. Deutsche Bank AG raised its holdings in Consolidated Edison by 130.6% in the first quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider’s stock valued at $434,266,000 after acquiring an additional 2,223,959 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Consolidated Edison by 106.9% during the first quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider’s stock worth $308,643,000 after purchasing an additional 1,441,785 shares during the period. Nuveen LLC acquired a new stake in shares of Consolidated Edison during the first quarter worth $146,073,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Consolidated Edison by 215.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,688,480 shares of the utilities provider’s stock worth $186,730,000 after purchasing an additional 1,152,892 shares during the period. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Price Performance

ED stock opened at $99.99 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a one year low of $87.28 and a one year high of $114.87. The firm has a market capitalization of $36.06 billion, a PE ratio of 18.15, a P/E/G ratio of 2.81 and a beta of 0.32. The firm has a 50-day moving average of $99.23 and a two-hundred day moving average of $102.55.

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

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, November 19th. Consolidated Edison’s dividend payout ratio is 61.71%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ED shares. Barclays dropped their target price on shares of Consolidated Edison from $107.00 to $105.00 and set an “underweight” rating on the stock in a report on Tuesday. Morgan Stanley increased their target price on shares of Consolidated Edison from $93.00 to $100.00 and gave the company an “underweight” rating in a research report on Wednesday. KeyCorp increased their target price on shares of Consolidated Edison from $88.00 to $90.00 and gave the company an “underweight” rating in a research report on Wednesday, October 15th. Scotiabank increased their target price on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a research report on Monday, August 11th. Finally, Evercore ISI assumed coverage on shares of Consolidated Edison in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 target price for the company. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $106.33.

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.