Sequoia Financial Advisors LLC Has $1.99 Million Stock Position in Consolidated Edison Inc $ED

Sequoia Financial Advisors LLC boosted its stake in Consolidated Edison Inc (NYSE:ED) by 40.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,795 shares of the utilities provider’s stock after acquiring an additional 5,743 shares during the period. Sequoia Financial Advisors LLC’s holdings in Consolidated Edison were worth $1,986,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new stake in Consolidated Edison in the first quarter worth about $32,000. Capital Advisors Ltd. LLC raised its position in 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 during the period. Fort Vancouver Investment Management LLC bought a new stake in Consolidated Edison in the first quarter worth about $33,000. Financial Network Wealth Advisors LLC bought a new stake in Consolidated Edison in the first quarter worth about $33,000. Finally, Cary Street Partners Investment Advisory LLC raised its position 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 acquiring an additional 120 shares during the period. Institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on ED shares. Bank of America lowered shares of Consolidated Edison from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $112.00 to $101.00 in a research report on Friday, August 15th. Morgan Stanley reduced 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 note on Thursday, September 25th. Evercore ISI initiated coverage on shares of Consolidated Edison in a research note on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 target price for the company. Barclays lifted their target price on shares of Consolidated Edison from $101.00 to $107.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 13th. Finally, Scotiabank lifted 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 note on Monday, August 11th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, Consolidated Edison has an average rating of “Reduce” and an average target price of $105.92.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $102.31 on Thursday. The company has a 50 day moving average of $99.56 and a 200 day moving average of $102.93. The stock has a market cap of $36.90 billion, a P/E ratio of 18.57, a P/E/G ratio of 2.83 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 company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same quarter 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. As a group, sell-side analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

About Consolidated Edison

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.