Forvis Mazars Wealth Advisors LLC Raises Position in Consolidated Edison Inc $ED

Forvis Mazars Wealth Advisors LLC increased its position in Consolidated Edison Inc (NYSE:ED) by 4.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,451 shares of the utilities provider’s stock after acquiring an additional 410 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Consolidated Edison were worth $1,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management purchased a new position in Consolidated Edison in the 1st quarter worth $32,000. Fort Vancouver Investment Management LLC purchased a new position in Consolidated Edison in the 1st quarter worth $33,000. Financial Network Wealth Advisors LLC purchased a new position in Consolidated Edison in the 1st quarter worth $33,000. Cary Street Partners Investment Advisory LLC raised its stake in Consolidated Edison by 64.9% in the 1st 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 last quarter. Finally, Capital Advisors Ltd. LLC raised its stake in Consolidated Edison by 53.2% in the 2nd 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 last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of Consolidated Edison stock opened at $101.14 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87. The business has a 50-day moving average price of $99.41 and a 200 day moving average price of $102.69. The firm has a market cap of $36.48 billion, a PE ratio of 18.36, a P/E/G ratio of 2.82 and a beta of 0.32.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the previous year, the business earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Sell-side analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors 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 payout ratio is currently 61.71%.

Analyst Upgrades and Downgrades

ED has been the subject of a number of research analyst reports. KeyCorp raised their target price on Consolidated Edison from $88.00 to $90.00 and gave the stock an “underweight” rating in a research note on Wednesday. Bank of America lowered Consolidated Edison from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $112.00 to $101.00 in a research note on Friday, August 15th. Scotiabank lifted their price objective on 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 lifted their price objective on Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Finally, New Street Research set a $106.00 price objective on Consolidated Edison in a research note on Monday, October 6th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $105.92.

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.