Consolidated Edison Inc $ED Position Increased by Verity & Verity LLC

Verity & Verity LLC raised its stake in Consolidated Edison Inc (NYSE:ED) by 24.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,438 shares of the utilities provider’s stock after buying an additional 1,072 shares during the period. Verity & Verity LLC’s holdings in Consolidated Edison were worth $546,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital Advisors Ltd. LLC raised its position 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 worth $32,000 after purchasing an additional 109 shares during the period. Financial Network Wealth Advisors LLC purchased a new position in Consolidated Edison in the 1st quarter worth about $33,000. Cary Street Partners Investment Advisory LLC raised its holdings in Consolidated Edison by 64.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock worth $34,000 after buying an additional 120 shares during the period. Bogart Wealth LLC raised its holdings in Consolidated Edison by 886.5% during the 2nd quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock worth $37,000 after buying an additional 328 shares during the period. Finally, SJS Investment Consulting Inc. lifted its stake in 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 buying an additional 369 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on ED. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a report on Monday, November 17th. Bank of America cut Consolidated Edison from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $112.00 to $101.00 in a research report on Friday, August 15th. Evercore ISI assumed coverage on Consolidated Edison in a research note on Tuesday, October 7th. They set an “in-line” rating and a $106.00 target price on the stock. Barclays dropped their price objective on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a research note on Monday, November 10th. Finally, Mizuho increased their price objective on Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $104.58.

Consolidated Edison Stock Up 1.1%

Consolidated Edison stock opened at $99.99 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01. Consolidated Edison Inc has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The firm has a fifty day moving average price of $99.44 and a two-hundred day moving average price of $100.72. The firm has a market cap of $36.09 billion, a price-to-earnings ratio of 18.14, a P/E/G ratio of 2.70 and a beta of 0.32.

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 analysts’ consensus estimates 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 last year, the firm earned $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. As a group, analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders 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 annualized dividend and a dividend yield of 3.4%. Consolidated Edison’s dividend payout ratio (DPR) is presently 59.44%.

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.