Consolidated Edison Inc $ED Shares Bought by Barrett & Company Inc.

Barrett & Company Inc. grew its position in shares of Consolidated Edison Inc (NYSE:ED) by 51.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 819 shares of the utilities provider’s stock after purchasing an additional 279 shares during the period. Barrett & Company Inc.’s holdings in Consolidated Edison were worth $82,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Ameritas Advisory Services LLC boosted its position in shares of Consolidated Edison by 20.6% in the second quarter. Ameritas Advisory Services LLC now owns 12,934 shares of the utilities provider’s stock worth $1,298,000 after acquiring an additional 2,213 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of Consolidated Edison by 3.8% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,932 shares of the utilities provider’s stock worth $696,000 after acquiring an additional 254 shares during the last quarter. Hilltop National Bank acquired a new stake in shares of Consolidated Edison in the second quarter worth approximately $102,000. ASR Vermogensbeheer N.V. boosted its position in shares of Consolidated Edison by 15.8% in the second quarter. ASR Vermogensbeheer N.V. now owns 101,139 shares of the utilities provider’s stock worth $10,149,000 after acquiring an additional 13,791 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Consolidated Edison by 103.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,327,643 shares of the utilities provider’s stock worth $133,229,000 after acquiring an additional 675,852 shares during the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Trading Up 1.2%

ED opened at $98.83 on Friday. The firm has a market capitalization of $35.64 billion, a P/E ratio of 17.94, a P/E/G ratio of 2.71 and a beta of 0.32. The firm’s 50 day moving average is $99.95 and its 200-day moving average is $103.29. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week 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.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter last year, the company earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th were given 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 dividend yield of 3.4%. Consolidated Edison’s dividend payout ratio (DPR) is presently 61.71%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Morgan Stanley decreased their target price on shares of Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating on the stock in a research report on Thursday, September 25th. Scotiabank raised their price target on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a report on Monday, August 11th. Barclays raised their price target on shares of Consolidated Edison from $101.00 to $107.00 and gave the company an “underweight” rating in a report on Wednesday, August 13th. KeyCorp restated an “overweight” rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Finally, Mizuho raised their price target on shares of Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Consolidated Edison currently has an average rating of “Hold” and a consensus target price of $105.91.

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.