Consolidated Edison Inc $ED Shares Acquired by Blue Trust Inc.

Blue Trust Inc. grew its position in shares of Consolidated Edison Inc (NYSE:ED) by 18.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,889 shares of the utilities provider’s stock after acquiring an additional 614 shares during the quarter. Blue Trust Inc.’s holdings in Consolidated Edison were worth $390,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new stake in Consolidated Edison during the 1st quarter worth approximately $32,000. Capital Advisors Ltd. LLC increased its position 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 acquiring an additional 109 shares in the last quarter. Fort Vancouver Investment Management LLC acquired a new stake in shares of Consolidated Edison in the first quarter worth $33,000. Financial Network Wealth Advisors LLC acquired a new stake in shares of Consolidated Edison in the first quarter worth $33,000. Finally, Cary Street Partners Investment Advisory LLC increased its position 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 worth $34,000 after acquiring an additional 120 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ED has been the subject of several recent research reports. Scotiabank increased their price target on Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a report on Monday, August 11th. New Street Research set a $106.00 target price on Consolidated Edison in a research note on Monday, October 6th. Morgan Stanley lowered their target price on Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating for the company in a research note on Thursday, September 25th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Consolidated Edison in a research report on Wednesday, October 8th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $105.75.

Consolidated Edison Price Performance

Shares of ED stock opened at $100.85 on Tuesday. The firm has a market cap of $36.37 billion, a P/E ratio of 18.30, a P/E/G ratio of 2.85 and a beta of 0.32. 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 Inc has a 1-year low of $87.28 and a 1-year high of $114.87. The firm has a fifty day moving average of $99.64 and a two-hundred day moving average of $102.94.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate 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 last year, the firm earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, research analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

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