JNBA Financial Advisors Purchases New Stake in Consolidated Edison Inc $ED

JNBA Financial Advisors purchased a new stake in shares of Consolidated Edison Inc (NYSE:ED) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 793 shares of the utilities provider’s stock, valued at approximately $80,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Exchange Traded Concepts LLC raised its position in shares of Consolidated Edison by 1.0% during the 2nd quarter. Exchange Traded Concepts LLC now owns 11,050 shares of the utilities provider’s stock valued at $1,109,000 after acquiring an additional 109 shares in the last quarter. Capital Advisors Ltd. LLC increased its position in Consolidated Edison by 53.2% in the second 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 period. Farther Finance Advisors LLC increased its position in Consolidated Edison by 1.3% in the second quarter. Farther Finance Advisors LLC now owns 8,896 shares of the utilities provider’s stock worth $893,000 after buying an additional 110 shares during the period. Western Wealth Management LLC increased its position in Consolidated Edison by 0.7% in the first quarter. Western Wealth Management LLC now owns 16,101 shares of the utilities provider’s stock worth $1,781,000 after buying an additional 116 shares during the period. Finally, Eastern Bank increased its position in Consolidated Edison by 2.9% in the first quarter. Eastern Bank now owns 4,294 shares of the utilities provider’s stock worth $475,000 after buying an additional 120 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ED. Mizuho increased their target price on Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. New Street Research set a $106.00 target price on Consolidated Edison in a research report on Monday, October 6th. KeyCorp reaffirmed an “overweight” rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Morgan Stanley dropped their target price on Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating on the stock in a research report on Thursday, September 25th. Finally, Barclays increased their target price on Consolidated Edison from $101.00 to $107.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 13th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $105.75.

Consolidated Edison Trading Up 1.5%

NYSE:ED opened at $102.36 on Friday. Consolidated Edison Inc has a 1 year low of $87.28 and a 1 year high of $114.87. The stock has a market cap of $36.92 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 2.85 and a beta of 0.32. The business has a fifty day moving average of $99.73 and a 200-day moving average of $103.03. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $3.39 billion. During the same quarter in the prior year, the business posted $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Wednesday, August 13th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $3.40 annualized dividend and a yield of 3.3%. Consolidated Edison’s dividend payout ratio (DPR) is currently 61.71%.

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.