American Century Companies Inc. Has $16.81 Million Stock Position in Consolidated Edison Inc $ED

American Century Companies Inc. lowered its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 36.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 167,508 shares of the utilities provider’s stock after selling 94,651 shares during the period. American Century Companies Inc.’s holdings in Consolidated Edison were worth $16,810,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Capital Advisors Ltd. LLC increased its holdings 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 during the period. Financial Network Wealth Advisors LLC bought a new stake in shares of Consolidated Edison in the 1st quarter valued at about $33,000. Cary Street Partners Investment Advisory LLC increased its stake in shares of Consolidated Edison by 64.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock valued at $34,000 after buying an additional 120 shares during the period. Bogart Wealth LLC raised its position in shares of Consolidated Edison by 886.5% during the second quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 328 shares during the last quarter. Finally, SJS Investment Consulting Inc. lifted its stake in shares of Consolidated Edison by 1,677.3% in the second quarter. SJS Investment Consulting Inc. now owns 391 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 369 shares during the period. Institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ED shares. Morgan Stanley reissued an “underweight” rating and set a $98.00 target price on shares of Consolidated Edison in a research report on Thursday, November 20th. Bank of America cut shares of Consolidated Edison from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $112.00 to $101.00 in a research report on Friday, August 15th. Evercore ISI began coverage on shares of Consolidated Edison in a report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 target price on the stock. New Street Research set a $106.00 price target on shares of Consolidated Edison in a research report on Monday, October 6th. Finally, Scotiabank lifted their price objective on Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Consolidated Edison currently has a consensus rating of “Reduce” and a consensus target price of $104.58.

Consolidated Edison Stock Down 1.0%

Consolidated Edison stock opened at $96.95 on Wednesday. The firm has a market capitalization of $34.99 billion, a price-to-earnings ratio of 16.95, a price-to-earnings-growth ratio of 2.84 and a beta of 0.37. The firm’s fifty day moving average price is $99.74 and its two-hundred day moving average price is $100.56. Consolidated Edison Inc has a 1-year low of $87.28 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.

Consolidated Edison (NYSE:ED) last posted 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%. During the same period last year, the firm posted $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, equities research analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Wednesday, November 19th. Consolidated Edison’s dividend payout ratio (DPR) is currently 59.44%.

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.