Consolidated Edison Inc $ED Shares Acquired by Barrett & Company Inc.

Barrett & Company Inc. boosted its holdings in Consolidated Edison Inc (NYSE:ED) by 51.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 819 shares of the utilities provider’s stock after purchasing an additional 279 shares during the quarter. Barrett & Company Inc.’s holdings in Consolidated Edison were worth $82,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new position in Consolidated Edison in the first quarter worth $32,000. Fort Vancouver Investment Management LLC acquired a new position in Consolidated Edison in the first quarter worth $33,000. Financial Network Wealth Advisors LLC acquired a new position in Consolidated Edison in the first quarter worth $33,000. Cary Street Partners Investment Advisory LLC boosted its holdings in 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 worth $34,000 after purchasing an additional 120 shares during the period. Finally, Elite Financial Inc. acquired a new position in Consolidated Edison in the first quarter worth $38,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $98.83 on Friday. Consolidated Edison Inc has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The firm’s 50-day simple moving average is $99.95 and its 200 day simple moving average is $103.29. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. The stock has a market cap of $35.64 billion, a P/E ratio of 17.94, a P/E/G ratio of 2.71 and a beta of 0.32.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the previous year, the business earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Wednesday, August 13th were 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 was Wednesday, August 13th. Consolidated Edison’s payout ratio is currently 61.71%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Bank of America downgraded 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 report on Friday, August 15th. Barclays boosted their price target on shares of Consolidated Edison from $101.00 to $107.00 and gave the company an “underweight” rating in a report on Wednesday, August 13th. Weiss Ratings reissued a “buy (b-)” rating on shares of Consolidated Edison in a report on Saturday, September 27th. Scotiabank boosted their price target on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a report on Monday, August 11th. Finally, KeyCorp reissued an “overweight” rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Consolidated Edison currently has a consensus rating of “Hold” and a consensus price target 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.