Westfuller Advisors LLC boosted its holdings in shares of Consolidated Edison Inc (NYSE:ED – Free Report) by 1,611.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,723 shares of the utilities provider’s stock after acquiring an additional 4,447 shares during the period. Westfuller Advisors LLC’s holdings in Consolidated Edison were worth $535,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GW&K Investment Management LLC raised its position in shares of Consolidated Edison by 28.5% during the fourth quarter. GW&K Investment Management LLC now owns 419 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 93 shares during the period. Meadowbrook Wealth Management LLC grew its position in shares of Consolidated Edison by 2.2% in the 4th quarter. Meadowbrook Wealth Management LLC now owns 4,687 shares of the utilities provider’s stock valued at $466,000 after purchasing an additional 100 shares during the period. bLong Financial LLC grew its position in shares of Consolidated Edison by 1.3% in the 4th quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider’s stock valued at $772,000 after purchasing an additional 100 shares during the period. Bridgewater Advisors Inc. increased its stake in Consolidated Edison by 1.6% during the 4th quarter. Bridgewater Advisors Inc. now owns 6,635 shares of the utilities provider’s stock worth $689,000 after purchasing an additional 105 shares in the last quarter. Finally, Venture Visionary Partners LLC increased its stake in Consolidated Edison by 2.0% during the 4th quarter. Venture Visionary Partners LLC now owns 5,606 shares of the utilities provider’s stock worth $557,000 after purchasing an additional 108 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.
Consolidated Edison News Roundup
Here are the key news stories impacting Consolidated Edison this week:
- Negative Sentiment: Con Edison is reducing voltage in parts of the Bronx, Westchester, and other areas and asking customers to limit power use, signaling strain on the grid during extreme heat. Con Edison Calls for Power-Saving, Reduces Voltage by 8% in Some Areas — Update
- Negative Sentiment: Thousands of customers lost power in the Bronx, Brooklyn, Staten Island, and other neighborhoods, which may raise concerns about service reliability and near-term operating disruption. 5,000 Con Edison customers in the Bronx without power amid heat wave
- Negative Sentiment: Con Edison’s repeated warnings for customers to conserve energy suggest the utility is actively managing peak-load stress, which can weigh on investor sentiment even if outages are temporary. As heat wave rages, Con Ed urges nearly 90,000 people in NYC, Westchester to limit power use
- Neutral Sentiment: The company elected Tali Farhadian to its Board of Directors, adding legal and regulatory experience; this is governance-related and unlikely to move the stock much in the near term. Con Edison Elects New Board Member
Wall Street Analysts Forecast Growth
Get Our Latest Stock Analysis on ED
Consolidated Edison Stock Down 0.0%
NYSE:ED opened at $113.96 on Monday. The stock has a 50-day simple moving average of $107.88 and a 200 day simple moving average of $107.77. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $116.23. The company has a market cap of $42.00 billion, a PE ratio of 19.18, a PEG ratio of 2.89 and a beta of 0.27. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.19.
Consolidated Edison Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th were paid a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Wednesday, May 13th. Consolidated Edison’s dividend payout ratio (DPR) is currently 59.76%.
About Consolidated Edison
Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.
The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.
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