Consolidated Edison Inc $ED Stock Position Lifted by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd raised its stake in Consolidated Edison Inc (NYSE:ED) by 57.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,840 shares of the utilities provider’s stock after buying an additional 8,338 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Consolidated Edison were worth $2,274,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Salomon & Ludwin LLC raised its holdings in shares of Consolidated Edison by 270.4% during the third quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 219 shares in the last quarter. Capital Advisors Ltd. LLC grew its stake in Consolidated Edison by 53.2% in the second quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 109 shares in the last quarter. Bogart Wealth LLC increased its position in Consolidated Edison by 886.5% in the 2nd quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 328 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Consolidated Edison during the 3rd quarter worth about $38,000. Finally, True Wealth Design LLC raised its stake in shares of Consolidated Edison by 392.1% during the 3rd quarter. True Wealth Design LLC now owns 497 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 396 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

ED has been the subject of several recent research reports. KeyCorp lowered their price target on Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating for the company in a research note on Friday, December 12th. JPMorgan Chase & Co. decreased their target price on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a research report on Friday, December 12th. Morgan Stanley restated an “underweight” rating and set a $96.00 price target on shares of Consolidated Edison in a research note on Wednesday, January 21st. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a report on Monday, December 29th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $118.00 price objective on shares of Consolidated Edison in a report on Friday, January 23rd. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $104.20.

Consolidated Edison Stock Performance

NYSE:ED opened at $107.46 on Wednesday. The firm has a market capitalization of $38.79 billion, a PE ratio of 18.79, a PEG ratio of 2.87 and a beta of 0.38. Consolidated Edison Inc has a 1 year low of $93.52 and a 1 year high of $114.87. The company has a current ratio of 1.08, a quick ratio of 0.97 and a debt-to-equity ratio of 1.03. The firm’s fifty day simple moving average is $100.37 and its 200 day simple moving average is $100.20.

Consolidated Edison (NYSE:ED) last released its 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. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.79%. The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the previous year, the business earned $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, sell-side analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Wednesday, February 18th will be paid a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a yield of 3.3%. The ex-dividend date is Wednesday, February 18th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.85. Consolidated Edison’s dividend payout ratio is currently 59.44%.

Insider Transactions at Consolidated Edison

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total value of $220,521.64. Following the sale, the director owned 38,661 shares of the company’s stock, valued at $3,745,864.29. This trade represents a 5.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.17% of the stock is owned by company insiders.

About Consolidated Edison

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.