AG2R LA Mondiale Gestion D Actifs Has $1.63 Million Stake in Consolidated Edison Inc $ED

AG2R LA Mondiale Gestion D Actifs grew its stake in Consolidated Edison Inc (NYSE:ED) by 4.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 16,245 shares of the utilities provider’s stock after acquiring an additional 635 shares during the period. AG2R LA Mondiale Gestion D Actifs’ holdings in Consolidated Edison were worth $1,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Capital Advisors Ltd. LLC grew its stake in shares of Consolidated Edison by 53.2% in 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 in the last quarter. Fort Vancouver Investment Management LLC acquired a new stake in Consolidated Edison during the first quarter worth about $33,000. Financial Network Wealth Advisors LLC bought a new position in shares of Consolidated Edison in the first quarter worth about $33,000. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Consolidated Edison by 64.9% in 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. Finally, Bogart Wealth LLC lifted its holdings in shares of Consolidated Edison by 886.5% in the second quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 328 shares during the last quarter. 66.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. KeyCorp raised their price objective on shares of Consolidated Edison from $88.00 to $90.00 and gave the company an “underweight” rating in a report on Wednesday, October 15th. Bank of America lowered shares of Consolidated Edison from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $112.00 to $101.00 in a report on Friday, August 15th. Morgan Stanley raised their price objective on shares of Consolidated Edison from $93.00 to $100.00 and gave the stock an “underweight” rating in a research report on Wednesday. Barclays reduced their price target on shares of Consolidated Edison from $107.00 to $105.00 and set an “underweight” rating for the company in a research report on Tuesday. Finally, Scotiabank raised their price objective 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. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, Consolidated Edison presently has an average rating of “Reduce” and a consensus target price of $106.33.

Consolidated Edison Trading Down 0.8%

NYSE ED opened at $99.99 on Friday. The stock has a market capitalization of $36.06 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 2.79 and a beta of 0.32. Consolidated Edison Inc has a one year low of $87.28 and a one year high of $114.87. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01. The business’s fifty day moving average is $99.23 and its 200-day moving average is $102.53.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.During the same period in the previous year, the business posted $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities research analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The firm 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 dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Wednesday, November 19th. Consolidated Edison’s payout ratio is presently 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.