Sequoia Financial Advisors LLC Acquires 5,743 Shares of Consolidated Edison Inc $ED

Sequoia Financial Advisors LLC grew its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 40.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 19,795 shares of the utilities provider’s stock after acquiring an additional 5,743 shares during the period. Sequoia Financial Advisors LLC’s holdings in Consolidated Edison were worth $1,986,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Alpine Bank Wealth Management bought a new position in shares of Consolidated Edison during the first quarter valued at $32,000. Capital Advisors Ltd. LLC raised its stake in shares of Consolidated Edison by 53.2% during the second quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 109 shares during the last quarter. Fort Vancouver Investment Management LLC bought a new position in shares of Consolidated Edison during the first quarter valued at $33,000. Financial Network Wealth Advisors LLC bought a new position in shares of Consolidated Edison during the first quarter valued at $33,000. Finally, Cary Street Partners Investment Advisory LLC raised its stake in shares of Consolidated Edison by 64.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 120 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

ED has been the subject of several recent analyst reports. Barclays increased their price objective on shares of Consolidated Edison from $101.00 to $107.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 13th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a research report on Wednesday, October 8th. Morgan Stanley decreased their price objective on shares of Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating for the company in a research report on Thursday, September 25th. Scotiabank increased their price objective on shares of Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Monday, August 11th. Finally, Bank of America cut shares of Consolidated Edison from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $112.00 to $101.00 in a research report on Friday, August 15th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, Consolidated Edison has a consensus rating of “Reduce” and a consensus target price of $105.92.

Consolidated Edison Trading Up 0.4%

ED opened at $102.31 on Thursday. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year 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. The company has a market cap of $36.90 billion, a P/E ratio of 18.57, a price-to-earnings-growth ratio of 2.83 and a beta of 0.32. The company has a fifty day moving average price of $99.56 and a two-hundred day moving average price of $102.93.

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

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.