Fifth Third Wealth Advisors LLC Has $351,000 Holdings in Consolidated Edison Inc $ED

Fifth Third Wealth Advisors LLC cut its position in shares of Consolidated Edison Inc (NYSE:ED) by 5.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,502 shares of the utilities provider’s stock after selling 200 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Consolidated Edison were worth $351,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. ATLAS Infrastructure Partners UK Ltd. acquired a new stake in Consolidated Edison in the first quarter worth $254,205,000. Deutsche Bank AG grew its holdings in Consolidated Edison by 130.6% in the first quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider’s stock worth $434,266,000 after purchasing an additional 2,223,959 shares during the period. JPMorgan Chase & Co. grew its holdings in Consolidated Edison by 106.9% in the first quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider’s stock worth $308,643,000 after purchasing an additional 1,441,785 shares during the period. Nuveen LLC acquired a new stake in Consolidated Edison in the first quarter worth $146,073,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in Consolidated Edison by 215.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,688,480 shares of the utilities provider’s stock worth $186,730,000 after purchasing an additional 1,152,892 shares during the period. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on ED. Bank of America cut shares of 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 report on Friday, August 15th. New Street Research set a $106.00 price target on shares of Consolidated Edison in a report on Monday, October 6th. Scotiabank raised their price objective on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a research note on Monday, August 11th. Mizuho raised their price objective on shares of Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and a consensus price target of $105.75.

Consolidated Edison Stock Down 1.5%

Consolidated Edison stock opened at $100.85 on Tuesday. Consolidated Edison Inc has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The stock has a market cap of $36.37 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 2.85 and a beta of 0.32. The firm’s 50-day simple moving average is $99.64 and its 200 day simple moving average is $102.94. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10.

Consolidated Edison (NYSE:ED) last released its quarterly 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. 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 company earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Research analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors 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 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.