Securian Asset Management Inc. Purchases 578 Shares of Consolidated Edison Inc $ED

Securian Asset Management Inc. grew its position in Consolidated Edison Inc (NYSE:ED) by 3.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,837 shares of the utilities provider’s stock after purchasing an additional 578 shares during the quarter. Securian Asset Management Inc.’s holdings in Consolidated Edison were worth $1,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ED. Revolve Wealth Partners LLC boosted its position in shares of Consolidated Edison by 13.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after acquiring an additional 441 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Consolidated Edison by 45.0% during the first quarter. GAMMA Investing LLC now owns 9,242 shares of the utilities provider’s stock worth $1,022,000 after acquiring an additional 2,869 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Consolidated Edison by 17.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 92,643 shares of the utilities provider’s stock worth $10,245,000 after acquiring an additional 13,755 shares during the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of Consolidated Edison during the first quarter worth $217,000. Finally, Oppenheimer & Co. Inc. boosted its position in shares of Consolidated Edison by 1.7% during the first quarter. Oppenheimer & Co. Inc. now owns 23,330 shares of the utilities provider’s stock worth $2,580,000 after acquiring an additional 398 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ED shares. New Street Research set a $106.00 target price on shares of Consolidated Edison in a research report on Monday, October 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a research report on Wednesday, October 8th. KeyCorp increased their price objective on shares of Consolidated Edison from $88.00 to $90.00 and gave the company an “underweight” rating in a research report on Wednesday, October 15th. Scotiabank increased their price objective on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a research report on Monday, August 11th. Finally, Evercore ISI initiated coverage on shares of Consolidated Edison in a research report on Tuesday, October 7th. They set an “in-line” rating and a $106.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $106.33.

Consolidated Edison Trading Up 0.4%

Shares of ED opened at $101.95 on Thursday. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87. The company has a market cap of $36.77 billion, a P/E ratio of 18.50, a P/E/G ratio of 2.83 and a beta of 0.32. 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’s fifty day simple moving average is $99.29 and its 200-day simple moving average is $102.62.

Consolidated Edison (NYSE:ED) last announced its 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 business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the prior year, the firm posted $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders 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 dividend yield of 3.3%. Consolidated Edison’s dividend payout ratio is currently 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.