Sigma Investment Counselors Inc. Boosts Stake in Consolidated Edison Inc $ED

Sigma Investment Counselors Inc. boosted its stake in shares of Consolidated Edison Inc (NYSE:ED) by 13.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,684 shares of the utilities provider’s stock after acquiring an additional 325 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in Consolidated Edison were worth $269,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new stake in Consolidated Edison during the first quarter worth approximately $32,000. Capital Advisors Ltd. LLC increased its stake in Consolidated Edison by 53.2% during the second quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 109 shares during the last quarter. Fort Vancouver Investment Management LLC bought a new stake in Consolidated Edison during the first quarter worth approximately $33,000. Financial Network Wealth Advisors LLC bought a new stake in Consolidated Edison during the first quarter worth approximately $33,000. Finally, Cary Street Partners Investment Advisory LLC increased its stake in 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 worth $34,000 after acquiring an additional 120 shares during the last quarter. 66.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ED. Barclays boosted their price objective on Consolidated Edison from $101.00 to $107.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 13th. Scotiabank upped their target price on Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a research note on Monday, August 11th. New Street Research set a $106.00 target price on Consolidated Edison in a research note on Monday, October 6th. Mizuho upped their target price on Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Finally, KeyCorp upped their target price on Consolidated Edison from $88.00 to $90.00 and gave the company an “underweight” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Consolidated Edison presently has an average rating of “Reduce” and a consensus price target of $105.92.

Consolidated Edison Stock Up 0.1%

Shares of NYSE:ED opened at $101.14 on Monday. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week high of $114.87. The stock has a market cap of $36.48 billion, a P/E ratio of 18.36, a price-to-earnings-growth ratio of 2.82 and a beta of 0.32. The business’s 50 day moving average is $99.41 and its 200 day moving average is $102.69. 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 announced its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the prior year, the firm earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Sell-side analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Wednesday, November 19th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $3.40 annualized dividend and a yield of 3.4%. Consolidated Edison’s dividend payout ratio is 61.71%.

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.