Consolidated Edison Inc $ED Holdings Raised by Klingman & Associates LLC

Klingman & Associates LLC grew its position in Consolidated Edison Inc (NYSE:ED) by 3.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,131 shares of the utilities provider’s stock after acquiring an additional 137 shares during the quarter. Klingman & Associates LLC’s holdings in Consolidated Edison were worth $415,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Alpine Bank Wealth Management bought a new stake in shares of Consolidated Edison in the 1st quarter valued at approximately $32,000. Capital Advisors Ltd. LLC grew its stake in Consolidated Edison by 53.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock worth $32,000 after buying an additional 109 shares during the last quarter. Fort Vancouver Investment Management LLC bought a new position in Consolidated Edison during the 1st quarter worth $33,000. Financial Network Wealth Advisors LLC bought a new position in Consolidated Edison during the 1st quarter worth $33,000. Finally, Cary Street Partners Investment Advisory LLC grew its stake in Consolidated Edison by 64.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock worth $34,000 after buying an additional 120 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Trading Down 0.2%

Shares of ED stock opened at $101.49 on Wednesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. Consolidated Edison Inc has a 1 year low of $87.28 and a 1 year high of $114.87. The stock has a fifty day moving average of $99.32 and a two-hundred day moving average of $102.63. The firm has a market capitalization of $36.60 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 2.83 and a beta of 0.32.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the previous year, the firm posted $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, research analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Wednesday, November 19th. Consolidated Edison’s payout ratio is 61.71%.

Wall Street Analysts Forecast Growth

ED has been the subject of a number of recent research reports. KeyCorp upped their price objective on Consolidated Edison from $88.00 to $90.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 15th. Scotiabank upped their price objective on Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research note on Monday, August 11th. Evercore ISI initiated coverage on Consolidated Edison in a research note on Tuesday, October 7th. They set an “in-line” rating and a $106.00 price objective for the company. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a research note on Wednesday, October 8th. Finally, Bank of America downgraded Consolidated Edison from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $112.00 to $101.00 in a research note on Friday, August 15th. Three investment 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. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $105.75.

Consolidated Edison 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.