Richwood Investment Advisors LLC Sells 115 Shares of Consolidated Edison Inc $ED

Richwood Investment Advisors LLC lowered its stake in shares of Consolidated Edison Inc (NYSE:ED) by 2.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,659 shares of the utilities provider’s stock after selling 115 shares during the quarter. Richwood Investment Advisors LLC’s holdings in Consolidated Edison were worth $468,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. ATLAS Infrastructure Partners UK Ltd. bought a new position in shares of Consolidated Edison during the 1st quarter valued at approximately $254,205,000. Deutsche Bank AG boosted its holdings in Consolidated Edison by 130.6% in the 1st quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider’s stock valued at $434,266,000 after purchasing an additional 2,223,959 shares during the period. JPMorgan Chase & Co. boosted its holdings in Consolidated Edison by 106.9% in the 1st quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider’s stock valued at $308,643,000 after purchasing an additional 1,441,785 shares during the period. Nuveen LLC bought a new stake in Consolidated Edison during the first quarter valued at $146,073,000. Finally, Price T Rowe Associates Inc. MD lifted its position in Consolidated Edison by 215.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,688,480 shares of the utilities provider’s stock valued at $186,730,000 after purchasing an additional 1,152,892 shares during the last quarter. 66.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ED shares. New Street Research set a $106.00 price objective on shares of Consolidated Edison in a report on Monday. Morgan Stanley lowered their price target on shares of Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating for the company in a report on Thursday, September 25th. Mizuho upped their price objective on shares of Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Scotiabank upped their price objective on shares of Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a report on Monday, August 11th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $105.92.

Consolidated Edison Stock Up 0.5%

Shares of NYSE:ED opened at $99.28 on Tuesday. The company has a market cap of $35.81 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 2.75 and a beta of 0.32. The company has a 50-day moving average price of $99.91 and a 200 day moving average price of $103.17. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The company had revenue of $3.60 billion during 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 business posted $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, equities research analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Wednesday, August 13th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.4%. The ex-dividend date was Wednesday, August 13th. Consolidated Edison’s dividend payout ratio 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.