Prospera Financial Services Inc Boosts Stake in Consolidated Edison Inc $ED

Prospera Financial Services Inc increased its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 14.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,593 shares of the utilities provider’s stock after purchasing an additional 1,082 shares during the quarter. Prospera Financial Services Inc’s holdings in Consolidated Edison were worth $863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Capital Advisors Ltd. LLC raised its position 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 buying an additional 109 shares during the last quarter. Financial Network Wealth Advisors LLC purchased a new stake in shares of Consolidated Edison during the 1st quarter valued at about $33,000. Cary Street Partners Investment Advisory LLC grew its stake in shares of Consolidated Edison by 64.9% in the first 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 period. Bogart Wealth LLC grew its stake in shares of Consolidated Edison by 886.5% in the second quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 328 shares during the period. Finally, SJS Investment Consulting Inc. raised its holdings in shares of Consolidated Edison by 1,677.3% during the second quarter. SJS Investment Consulting Inc. now owns 391 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 369 shares during the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ED has been the topic of several research reports. Mizuho raised their target price on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Bank of America downgraded Consolidated Edison from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $112.00 to $101.00 in a research note on Friday, August 15th. Wells Fargo & Company raised Consolidated Edison to a “hold” rating in a report on Tuesday, October 28th. Barclays lowered their target price on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a report on Monday. Finally, New Street Research set a $106.00 price target on Consolidated Edison in a research note on Monday, October 6th. 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. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $104.75.

Consolidated Edison Stock Performance

NYSE:ED opened at $100.84 on Friday. 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 stock has a 50-day simple moving average of $98.90 and a two-hundred day simple moving average of $101.33. The firm has a market capitalization of $36.37 billion, a PE ratio of 18.30, a P/E/G ratio of 2.70 and a beta of 0.32. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week high of $114.87.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.76 by $0.14. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.During the same period in the prior year, the company earned $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Wednesday, November 19th. Consolidated Edison’s dividend payout ratio is presently 59.44%.

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.