GW Henssler & Associates Ltd. Increases Holdings in Consolidated Edison Inc $ED

GW Henssler & Associates Ltd. lifted its position in Consolidated Edison Inc (NYSE:ED) by 13.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,310 shares of the utilities provider’s stock after purchasing an additional 400 shares during the quarter. GW Henssler & Associates Ltd.’s holdings in Consolidated Edison were worth $332,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Exchange Traded Concepts LLC raised its stake in shares of Consolidated Edison by 1.0% in the second quarter. Exchange Traded Concepts LLC now owns 11,050 shares of the utilities provider’s stock worth $1,109,000 after purchasing an additional 109 shares during the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of Consolidated Edison by 53.2% in the second quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 109 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Consolidated Edison by 1.3% in the second quarter. Farther Finance Advisors LLC now owns 8,896 shares of the utilities provider’s stock worth $893,000 after purchasing an additional 110 shares during the last quarter. Western Wealth Management LLC raised its position in Consolidated Edison by 0.7% during the first quarter. Western Wealth Management LLC now owns 16,101 shares of the utilities provider’s stock valued at $1,781,000 after acquiring an additional 116 shares in the last quarter. Finally, Eastern Bank raised its position in Consolidated Edison by 2.9% during the first quarter. Eastern Bank now owns 4,294 shares of the utilities provider’s stock valued at $475,000 after acquiring an additional 120 shares in the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Stock Up 1.5%

Consolidated Edison stock opened at $102.36 on Friday. The stock has a market capitalization of $36.92 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 2.85 and a beta of 0.32. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87. The business has a 50 day simple moving average of $99.73 and a 200-day simple moving average of $103.03. 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 (NYSE:ED) last posted its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations 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 business earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th were given a $0.85 dividend. The ex-dividend date was Wednesday, August 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.3%. Consolidated Edison’s payout ratio is 61.71%.

Analysts Set New Price Targets

Several brokerages recently weighed in on ED. KeyCorp reiterated an “overweight” rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Barclays lifted their price target on Consolidated Edison from $101.00 to $107.00 and gave the company an “underweight” rating in a research report on Wednesday, August 13th. Morgan Stanley reduced their price target on Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating for the company in a research report on Thursday, September 25th. Scotiabank lifted their price target on Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a research report on Monday, August 11th. Finally, New Street Research set a $106.00 price target on Consolidated Edison in a research report on Monday, October 6th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Consolidated Edison has an average rating of “Hold” and a consensus target price of $105.75.

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.