Bogart Wealth LLC Buys 328 Shares of Consolidated Edison Inc $ED

Bogart Wealth LLC lifted its stake in shares of Consolidated Edison Inc (NYSE:ED) by 886.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 365 shares of the utilities provider’s stock after purchasing an additional 328 shares during the period. Bogart Wealth LLC’s holdings in Consolidated Edison were worth $37,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Alpine Bank Wealth Management purchased a new stake in Consolidated Edison in the first quarter worth $32,000. Capital Advisors Ltd. LLC grew its stake in shares of Consolidated Edison by 53.2% during 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 period. Fort Vancouver Investment Management LLC purchased a new stake in Consolidated Edison in the 1st quarter worth about $33,000. Financial Network Wealth Advisors LLC bought a new stake in Consolidated Edison in the 1st quarter valued at about $33,000. Finally, 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 valued at $34,000 after acquiring an additional 120 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Evercore ISI began 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Consolidated Edison in a report on Wednesday, October 8th. New Street Research set a $106.00 target price on shares of Consolidated Edison in a report on Monday, October 6th. Bank of America downgraded Consolidated Edison from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $112.00 to $101.00 in a research report on Friday, August 15th. Finally, Mizuho lifted their price target on Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, Consolidated Edison has a consensus rating of “Reduce” and an average target price of $105.75.

Consolidated Edison Trading Down 0.2%

Consolidated Edison stock opened at $101.49 on Wednesday. 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 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 $36.60 billion, a P/E ratio of 18.42, a PEG ratio of 2.83 and a beta of 0.32. The firm’s fifty day moving average price is $99.32 and its 200-day moving average price is $102.63.

Consolidated Edison (NYSE:ED) last posted 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 company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.39 billion. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.During the same quarter last year, the company earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities research analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Wednesday, November 19th will be given 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 is 61.71%.

Consolidated Edison Company 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.