Consolidated Edison Inc $ED Shares Acquired by Klingman & Associates LLC

Klingman & Associates LLC increased its position in Consolidated Edison Inc (NYSE:ED) by 3.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,131 shares of the utilities provider’s stock after buying an additional 137 shares during the quarter. Klingman & Associates LLC’s holdings in Consolidated Edison were worth $415,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Alpine Bank Wealth Management acquired a new stake in shares of Consolidated Edison in the first quarter valued at $32,000. Fort Vancouver Investment Management LLC acquired a new stake in shares of Consolidated Edison in the first quarter valued at $33,000. Financial Network Wealth Advisors LLC purchased a new stake in shares of Consolidated Edison during the first quarter valued at $33,000. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Consolidated Edison by 64.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 120 shares during the last quarter. Finally, Capital Advisors Ltd. LLC lifted its holdings in shares of Consolidated Edison by 53.2% during the second quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 109 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Down 0.2%

NYSE:ED opened at $101.49 on Wednesday. The firm has a market capitalization of $36.60 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 2.83 and a beta of 0.32. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year 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. The business’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 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. The firm had revenue of $3.60 billion for 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 period in the previous year, the firm earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, sell-side analysts forecast 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 given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, November 19th. Consolidated Edison’s payout ratio is presently 61.71%.

Analyst Ratings Changes

ED has been the subject of several analyst reports. Scotiabank upped their target price on Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a report on Monday, August 11th. Bank of America downgraded Consolidated Edison from a “buy” rating to an “underperform” rating and reduced their target price for the company from $112.00 to $101.00 in a report on Friday, August 15th. Evercore ISI initiated coverage on Consolidated Edison in a report on Tuesday, October 7th. They set an “in-line” rating and a $106.00 target price for the company. KeyCorp upped their target price on Consolidated Edison from $88.00 to $90.00 and gave the company an “underweight” rating in a report on Wednesday, October 15th. Finally, New Street Research set a $106.00 target price on Consolidated Edison in a report 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, Consolidated Edison currently has a consensus rating of “Reduce” and an average target price of $105.75.

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.