Albion Financial Group UT Has $4.56 Million Stock Position in Consolidated Edison Inc $ED

Albion Financial Group UT grew its position in Consolidated Edison Inc (NYSE:ED) by 0.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 45,452 shares of the utilities provider’s stock after purchasing an additional 123 shares during the period. Albion Financial Group UT’s holdings in Consolidated Edison were worth $4,561,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ED. Revolve Wealth Partners LLC increased its stake in shares of Consolidated Edison by 13.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock valued at $332,000 after buying an additional 441 shares during the period. Versant Capital Management Inc increased its stake in shares of Consolidated Edison by 194.5% in the 1st quarter. Versant Capital Management Inc now owns 1,752 shares of the utilities provider’s stock valued at $194,000 after buying an additional 1,157 shares during the period. GAMMA Investing LLC increased its stake in shares of Consolidated Edison by 15,937.5% in the 1st quarter. GAMMA Investing LLC now owns 1,022,073 shares of the utilities provider’s stock valued at $113,031,000 after buying an additional 1,015,700 shares during the period. Parallel Advisors LLC increased its stake in shares of Consolidated Edison by 15.0% in the 1st quarter. Parallel Advisors LLC now owns 13,025 shares of the utilities provider’s stock valued at $1,440,000 after buying an additional 1,697 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of Consolidated Edison by 1.5% in the 1st quarter. Rhumbline Advisers now owns 751,355 shares of the utilities provider’s stock valued at $83,092,000 after buying an additional 11,089 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

ED stock opened at $99.63 on Monday. The business’s 50-day moving average price is $100.30 and its two-hundred day moving average price is $103.53. 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 firm has a market cap of $35.93 billion, a PE ratio of 18.08, a P/E/G ratio of 2.77 and a beta of 0.28. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year high of $114.87.

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

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th were issued a dividend of $0.85 per share. The ex-dividend date was Wednesday, August 13th. This represents a $3.40 annualized dividend and a yield of 3.4%. Consolidated Edison’s payout ratio is currently 61.71%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. KeyCorp restated an “overweight” rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Morgan Stanley reduced their price target on Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating on the stock in a research report on Thursday. Barclays raised their price target on Consolidated Edison from $101.00 to $107.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 13th. Mizuho raised their price target on Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Finally, Bank of America lowered Consolidated Edison from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $112.00 to $101.00 in a research report on Friday, August 15th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $105.91.

Consolidated Edison 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.