CENTRAL TRUST Co Raises Holdings in Consolidated Edison Inc $ED

CENTRAL TRUST Co boosted its stake in Consolidated Edison Inc (NYSE:ED) by 18.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,960 shares of the utilities provider’s stock after purchasing an additional 1,102 shares during the period. CENTRAL TRUST Co’s holdings in Consolidated Edison were worth $698,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Consolidated Edison by 1.6% in the first quarter. Vanguard Group Inc. now owns 43,117,094 shares of the utilities provider’s stock worth $4,768,319,000 after buying an additional 661,432 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Consolidated Edison by 1.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,868,772 shares of the utilities provider’s stock worth $538,437,000 after purchasing an additional 48,323 shares during the last quarter. Deutsche Bank AG increased its holdings in Consolidated Edison by 130.6% during the 1st quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider’s stock valued at $434,266,000 after purchasing an additional 2,223,959 shares during the period. JPMorgan Chase & Co. lifted its holdings in Consolidated Edison by 106.9% in the 1st quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider’s stock worth $308,643,000 after buying an additional 1,441,785 shares during the period. Finally, ATLAS Infrastructure Partners UK Ltd. purchased a new stake in Consolidated Edison in the 1st quarter worth approximately $254,205,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 0.6%

NYSE:ED opened at $100.23 on Thursday. The company has a market cap of $36.15 billion, a PE ratio of 18.19, a price-to-earnings-growth ratio of 2.70 and a beta of 0.32. 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 simple moving average of $98.84 and a two-hundred day simple moving average of $101.34. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.14. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.The firm had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same period last year, the business posted $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Research analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders 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 dividend yield of 3.4%. The ex-dividend date is Wednesday, November 19th. Consolidated Edison’s payout ratio is currently 59.44%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ED shares. Bank of America downgraded Consolidated Edison from a “buy” rating to an “underperform” rating and decreased their target price for the company from $112.00 to $101.00 in a report on Friday, August 15th. Mizuho upped their price objective on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Morgan Stanley lifted their target price on shares of Consolidated Edison from $93.00 to $100.00 and gave the company an “underweight” rating in a research note on Wednesday, October 22nd. Scotiabank increased their price target on shares of Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research note on Monday, August 11th. Finally, New Street Research set a $106.00 price objective on Consolidated Edison in a research report on Monday, October 6th. 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $104.75.

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.