Securian Asset Management Inc. Boosts Position in Consolidated Edison Inc $ED

Securian Asset Management Inc. increased its stake in Consolidated Edison Inc (NYSE:ED) by 3.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,837 shares of the utilities provider’s stock after buying an additional 578 shares during the period. Securian Asset Management Inc.’s holdings in Consolidated Edison were worth $1,890,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in ED. Revolve Wealth Partners LLC increased its stake in Consolidated Edison by 13.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after buying an additional 441 shares during the period. GAMMA Investing LLC grew its holdings in Consolidated Edison by 45.0% during the 1st quarter. GAMMA Investing LLC now owns 9,242 shares of the utilities provider’s stock worth $1,022,000 after acquiring an additional 2,869 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Consolidated Edison by 17.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 92,643 shares of the utilities provider’s stock worth $10,245,000 after acquiring an additional 13,755 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in Consolidated Edison during the 1st quarter worth about $217,000. Finally, Oppenheimer & Co. Inc. grew its holdings in Consolidated Edison by 1.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 23,330 shares of the utilities provider’s stock worth $2,580,000 after acquiring an additional 398 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Up 0.4%

NYSE:ED opened at $101.95 on Thursday. 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 capitalization of $36.77 billion, a P/E ratio of 18.50, a P/E/G ratio of 2.83 and a beta of 0.32. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. The company’s 50-day simple moving average is $99.29 and its 200-day simple moving average is $102.62.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 11.98% and a return on equity of 8.56%. During the same period last year, the business earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, equities analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently announced 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. The ex-dividend date is Wednesday, November 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.3%. Consolidated Edison’s dividend payout ratio (DPR) is 61.71%.

Analyst Ratings Changes

ED has been the topic of several recent research reports. New Street Research set a $106.00 target price on shares of Consolidated Edison in a report on Monday, October 6th. Evercore ISI initiated coverage on shares of Consolidated Edison in a report on Tuesday, October 7th. They set an “in-line” rating and a $106.00 target price on the stock. KeyCorp increased their target price on shares of Consolidated Edison from $88.00 to $90.00 and gave the stock an “underweight” rating in a report on Wednesday, October 15th. Barclays dropped their target price on shares of Consolidated Edison from $107.00 to $105.00 and set an “underweight” rating on the stock in a report on Tuesday. Finally, Scotiabank increased their target price on shares of Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a report on Monday, August 11th. Three investment 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. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $106.33.

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.