Consolidated Edison Inc $ED Stock Holdings Lessened by JPMorgan Chase & Co.

by · The Cerbat Gem

JPMorgan Chase & Co. lessened its stake in shares of Consolidated Edison Inc (NYSE:ED – Free Report) by 35.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,794,759 shares of the utilities provider’s stock after selling 996,117 shares during the period. JPMorgan Chase & Co.’s holdings in Consolidated Edison were worth $180,107,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Atlantic Union Bankshares Corp lifted its stake in 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 buying an additional 1,183 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs acquired a new stake in shares of Consolidated Edison during the first quarter valued at approximately $1,631,000. Texas Yale Capital Corp. lifted its position in shares of Consolidated Edison by 41.8% in the 2nd quarter. Texas Yale Capital Corp. now owns 16,627 shares of the utilities provider’s stock valued at $1,669,000 after acquiring an additional 4,900 shares in the last quarter. CENTRAL TRUST Co boosted its stake in Consolidated Edison by 18.8% in the 2nd quarter. CENTRAL TRUST Co now owns 6,960 shares of the utilities provider’s stock worth $698,000 after purchasing an additional 1,102 shares during the period. Finally, RDA Financial Network purchased a new position in Consolidated Edison during the 2nd quarter worth approximately $367,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ED has been the subject of a number of research analyst reports. Bank of America lowered Consolidated Edison from a “buy” rating to an “underperform” rating and reduced their target price for the company from $112.00 to $101.00 in a report on Friday, August 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Consolidated Edison in a research note on Monday. Wells Fargo & Company upgraded Consolidated Edison to a “hold” rating in a research report on Tuesday, October 28th. Morgan Stanley reiterated an “underweight” rating and issued a $98.00 target price on shares of Consolidated Edison in a report on Thursday, November 20th. Finally, Mizuho increased their price target on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, Consolidated Edison currently has an average rating of “Reduce” and a consensus target price of $104.58.

Get Our Latest Report on Consolidated Edison

Consolidated Edison Stock Performance

Shares of NYSE ED opened at $98.85 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01. Consolidated Edison Inc has a one year low of $87.28 and a one year high of $114.87. The business’s 50-day moving average price is $99.51 and its two-hundred day moving average price is $100.66. The company has a market capitalization of $35.68 billion, a P/E ratio of 17.94, a price-to-earnings-growth ratio of 2.70 and a beta of 0.32.

Consolidated Edison (NYSE:ED – Get Free Report) last announced its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.14. 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 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th will be paid a $0.85 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.4%. Consolidated Edison’s payout ratio is 59.44%.

Consolidated Edison Company Profile

(Free Report)

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.

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