Brighton Jones LLC Boosts Stock Position in Consolidated Edison Inc $ED

Brighton Jones LLC increased its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 19.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,511 shares of the utilities provider’s stock after buying an additional 566 shares during the period. Brighton Jones LLC’s holdings in Consolidated Edison were worth $352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. MQS Management LLC acquired a new position in Consolidated Edison during the second quarter worth $768,000. AG2R LA Mondiale Gestion D Actifs lifted its stake in Consolidated Edison by 4.1% in the 2nd quarter. AG2R LA Mondiale Gestion D Actifs now owns 16,245 shares of the utilities provider’s stock valued at $1,630,000 after buying an additional 635 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in Consolidated Edison by 2.7% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 111,698 shares of the utilities provider’s stock valued at $11,209,000 after buying an additional 2,950 shares in the last quarter. AlphaQuest LLC boosted its holdings in Consolidated Edison by 673.3% in the 2nd quarter. AlphaQuest LLC now owns 18,219 shares of the utilities provider’s stock worth $1,828,000 after buying an additional 15,863 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Consolidated Edison by 2.6% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 999,080 shares of the utilities provider’s stock valued at $100,258,000 after acquiring an additional 25,015 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Up 1.2%

Consolidated Edison stock opened at $98.19 on Friday. The company has a market capitalization of $35.41 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 2.70 and a beta of 0.32. 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 fifty-two week low of $87.28 and a fifty-two week high of $114.87. The firm has a 50 day moving average price of $99.03 and a 200 day moving average price of $102.28.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates 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 last year, the business posted $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Research analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

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 paid a dividend of $0.85 per share. The ex-dividend date is Wednesday, November 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.5%. Consolidated Edison’s dividend payout ratio is 61.71%.

Analyst Ratings Changes

Several brokerages have issued reports on ED. Morgan Stanley lifted their target price on shares of Consolidated Edison from $93.00 to $100.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 22nd. Evercore ISI began 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 target on the stock. Wells Fargo & Company upgraded Consolidated Edison to a “hold” rating in a research report on Tuesday. New Street Research set a $106.00 price objective on shares of Consolidated Edison in a report on Monday, October 6th. Finally, KeyCorp boosted their target price 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. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $105.08.

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.