Johnson Investment Counsel Inc. Boosts Stock Position in Consolidated Edison Inc $ED

Johnson Investment Counsel Inc. lifted its position in Consolidated Edison Inc (NYSE:ED) by 1.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,574 shares of the utilities provider’s stock after purchasing an additional 165 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Consolidated Edison were worth $1,463,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Alpine Bank Wealth Management bought a new stake in shares of Consolidated Edison in the 1st quarter valued at about $32,000. Fort Vancouver Investment Management LLC bought a new position in shares of Consolidated Edison in the 1st quarter worth approximately $33,000. Financial Network Wealth Advisors LLC purchased a new stake in shares of Consolidated Edison in the 1st quarter worth approximately $33,000. Cary Street Partners Investment Advisory LLC grew its stake in shares of Consolidated Edison by 64.9% in 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 last quarter. Finally, Capital Advisors Ltd. LLC grew its stake in shares of 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. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Price Performance

Shares of Consolidated Edison stock opened at $100.85 on Tuesday. Consolidated Edison Inc has a one year low of $87.28 and a one year high of $114.87. The stock’s fifty day moving average is $99.64 and its 200 day moving average is $102.94. The stock has a market cap of $36.37 billion, a P/E ratio of 18.30, a P/E/G ratio of 2.85 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.

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

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $3.40 dividend on an annualized basis and a yield of 3.4%. Consolidated Edison’s dividend payout ratio (DPR) is currently 61.71%.

Analysts Set New Price Targets

Several analysts have commented on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a research note on Wednesday, October 8th. 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. KeyCorp reiterated an “overweight” rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Mizuho increased their target price on Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Finally, Bank of America downgraded Consolidated Edison from a “buy” rating to an “underperform” rating and cut their target price for the company from $112.00 to $101.00 in a research note on Friday, August 15th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $105.75.

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.