Quent Capital LLC Buys 640 Shares of Consolidated Edison Inc $ED

Quent Capital LLC raised its stake in Consolidated Edison Inc (NYSE:ED) by 26.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,058 shares of the utilities provider’s stock after purchasing an additional 640 shares during the period. Quent Capital LLC’s holdings in Consolidated Edison were worth $307,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Exchange Traded Concepts LLC increased its stake in Consolidated Edison by 1.0% in the second quarter. Exchange Traded Concepts LLC now owns 11,050 shares of the utilities provider’s stock valued at $1,109,000 after purchasing an additional 109 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Consolidated Edison by 1.3% during the second quarter. Farther Finance Advisors LLC now owns 8,896 shares of the utilities provider’s stock worth $893,000 after acquiring an additional 110 shares in the last quarter. Western Wealth Management LLC increased its position in shares of Consolidated Edison by 0.7% during the first quarter. Western Wealth Management LLC now owns 16,101 shares of the utilities provider’s stock worth $1,781,000 after acquiring an additional 116 shares in the last quarter. Eastern Bank increased its position in shares of Consolidated Edison by 2.9% during the first quarter. Eastern Bank now owns 4,294 shares of the utilities provider’s stock worth $475,000 after acquiring an additional 120 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its position in shares of Consolidated Edison by 64.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 120 shares in the last quarter. 66.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

ED has been the subject of several recent research reports. Scotiabank boosted their target price on shares of Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Monday, August 11th. Weiss Ratings reissued a “buy (b-)” rating on shares of Consolidated Edison in a research report on Saturday, September 27th. Morgan Stanley decreased their target price on shares of Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating for the company in a research report on Thursday, September 25th. KeyCorp reissued an “overweight” rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Finally, Bank of America downgraded shares of Consolidated Edison from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $112.00 to $101.00 in a research report on Friday, August 15th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $105.91.

Consolidated Edison Stock Up 1.2%

Consolidated Edison stock opened at $98.83 on Friday. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87. The firm has a 50 day moving average price of $99.95 and a 200-day moving average price of $103.26. The company has a market capitalization of $35.64 billion, a P/E ratio of 17.94, a P/E/G ratio of 2.75 and a beta of 0.32. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED) last released its earnings results 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 firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the prior year, the firm earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, equities analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently declared 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 dividend payout ratio is presently 61.71%.

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.