Brookstone Capital Management Sells 194 Shares of Consolidated Edison Inc $ED

Brookstone Capital Management reduced its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 0.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,926 shares of the utilities provider’s stock after selling 194 shares during the quarter. Brookstone Capital Management’s holdings in Consolidated Edison were worth $2,501,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ED. Flagship Harbor Advisors LLC bought a new position in shares of Consolidated Edison in the first quarter valued at $217,000. AG2R LA Mondiale Gestion D Actifs bought a new position in shares of Consolidated Edison in the first quarter valued at $1,631,000. GAMMA Investing LLC grew its stake in shares of 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 buying an additional 2,869 shares in the last quarter. RDA Financial Network bought a new position in shares of Consolidated Edison in the second quarter valued at $367,000. Finally, Bessemer Group Inc. grew its stake in shares of Consolidated Edison by 2.2% in the first quarter. Bessemer Group Inc. now owns 6,596 shares of the utilities provider’s stock valued at $729,000 after buying an additional 144 shares in the last quarter. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Trading Down 0.8%

ED stock opened at $99.99 on Friday. Consolidated Edison Inc has a one year low of $87.28 and a one year high of $114.87. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01. The stock has a market cap of $36.06 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 2.81 and a beta of 0.32. The company has a fifty day moving average price of $99.23 and a two-hundred day moving average price of $102.55.

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

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.4%. Consolidated Edison’s dividend payout ratio (DPR) is currently 61.71%.

Wall Street Analyst Weigh In

ED has been the subject of several analyst reports. Evercore ISI initiated 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. New Street Research set a $106.00 target price on shares of Consolidated Edison in a research note on Monday, October 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Consolidated Edison in a research note on Wednesday, October 8th. Scotiabank lifted their price objective on shares of Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Monday, August 11th. Finally, Bank of America cut shares of Consolidated Edison from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $112.00 to $101.00 in a research report on Friday, August 15th. Three 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, the company has a consensus rating of “Reduce” and a consensus 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.