Consolidated Edison Inc $ED Shares Purchased by Mutual Advisors LLC

Mutual Advisors LLC boosted its holdings in Consolidated Edison Inc (NYSE:ED) by 6.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,978 shares of the utilities provider’s stock after acquiring an additional 344 shares during the period. Mutual Advisors LLC’s holdings in Consolidated Edison were worth $611,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ED. Revolve Wealth Partners LLC lifted its holdings in Consolidated Edison by 13.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock valued at $332,000 after acquiring an additional 441 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Consolidated Edison by 45.0% in the first quarter. GAMMA Investing LLC now owns 9,242 shares of the utilities provider’s stock valued at $1,022,000 after acquiring an additional 2,869 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Consolidated Edison by 2.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 250,014 shares of the utilities provider’s stock valued at $27,649,000 after acquiring an additional 6,869 shares during the last quarter. ORG Partners LLC lifted its holdings in Consolidated Edison by 81.9% in the first quarter. ORG Partners LLC now owns 1,723 shares of the utilities provider’s stock valued at $191,000 after acquiring an additional 776 shares during the last quarter. Finally, Garde Capital Inc. acquired a new position in Consolidated Edison in the first quarter valued at approximately $49,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on ED. Evercore ISI started coverage on Consolidated Edison in a report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 price objective on the stock. Mizuho upped their price target on Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Morgan Stanley decreased their price target on Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating on the stock in a research note on Thursday, September 25th. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a research note on Wednesday, October 8th. Finally, New Street Research set a $106.00 price target on Consolidated Edison in a research note on Monday, October 6th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Consolidated Edison has a consensus rating of “Reduce” and an average price target of $105.92.

Consolidated Edison Stock Up 0.1%

Shares of NYSE ED opened at $101.14 on Monday. The stock has a market cap of $36.48 billion, a P/E ratio of 18.36, a PEG ratio of 2.82 and a beta of 0.32. 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 Inc has a 12-month low of $87.28 and a 12-month high of $114.87. The business’s fifty day simple moving average is $99.41 and its 200-day simple moving average is $102.69.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.01. The business had revenue of $3.60 billion for 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 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, equities analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Wednesday, November 19th. Consolidated Edison’s dividend payout ratio (DPR) 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.