RFG Advisory LLC Boosts Holdings in Consolidated Edison Inc $ED

RFG Advisory LLC boosted its position in Consolidated Edison Inc (NYSE:ED) by 2.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,227 shares of the utilities provider’s stock after purchasing an additional 136 shares during the quarter. RFG Advisory LLC’s holdings in Consolidated Edison were worth $525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. 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 buying an additional 109 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in shares of Consolidated Edison by 53.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock valued at $32,000 after buying an additional 109 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Consolidated Edison by 1.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 8,896 shares of the utilities provider’s stock valued at $893,000 after buying an additional 110 shares in the last quarter. Western Wealth Management LLC raised its position in shares of Consolidated Edison by 0.7% during the 1st quarter. Western Wealth Management LLC now owns 16,101 shares of the utilities provider’s stock valued at $1,781,000 after buying an additional 116 shares in the last quarter. Finally, Eastern Bank raised its position in shares of Consolidated Edison by 2.9% during the 1st quarter. Eastern Bank now owns 4,294 shares of the utilities provider’s stock valued at $475,000 after buying an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Barclays raised their price objective on shares of Consolidated Edison from $101.00 to $107.00 and gave the company an “underweight” rating in a research report on Wednesday, August 13th. KeyCorp increased their target price on shares of Consolidated Edison from $88.00 to $90.00 and gave the company an “underweight” rating in a report on Wednesday. New Street Research set a $106.00 target price on shares of Consolidated Edison in a report on Monday, October 6th. Morgan Stanley reduced their target price on shares of Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating on the stock in a report on Thursday, September 25th. Finally, Bank of America lowered shares of Consolidated Edison from a “buy” rating to an “underperform” rating and reduced their target price for the company from $112.00 to $101.00 in a report on Friday, August 15th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $105.92.

Consolidated Edison Price Performance

Shares of Consolidated Edison stock opened at $101.14 on Friday. The firm has a market cap of $36.48 billion, a PE ratio of 18.36, a price-to-earnings-growth ratio of 2.81 and a beta of 0.32. Consolidated Edison Inc has a 12-month low of $87.28 and a 12-month high of $114.87. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. The company’s fifty day simple moving average is $99.41 and its two-hundred day simple moving average is $102.81.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.39 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same quarter last year, the firm earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, equities analysts expect 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 issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, November 19th. Consolidated Edison’s dividend payout ratio (DPR) is 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.