World Investment Advisors Has $1.21 Million Stake in Consolidated Edison Inc $ED

World Investment Advisors boosted its stake in Consolidated Edison Inc (NYSE:ED) by 73.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,015 shares of the utilities provider’s stock after purchasing an additional 5,082 shares during the period. World Investment Advisors’ holdings in Consolidated Edison were worth $1,206,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Revolve Wealth Partners LLC grew its holdings in Consolidated Edison by 13.4% during the 4th 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 period. Pinnacle Financial Partners Inc acquired a new stake in Consolidated Edison during the 1st quarter worth about $256,000. First Horizon Advisors Inc. grew its holdings in Consolidated Edison by 19.2% during the 1st quarter. First Horizon Advisors Inc. now owns 2,419 shares of the utilities provider’s stock worth $268,000 after acquiring an additional 390 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in Consolidated Edison by 7.1% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 31,789 shares of the utilities provider’s stock worth $3,516,000 after acquiring an additional 2,120 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Consolidated Edison by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 473,350 shares of the utilities provider’s stock worth $52,348,000 after acquiring an additional 12,476 shares during the period. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ED. Evercore ISI began coverage on Consolidated Edison in a report on Tuesday, October 7th. They set an “in-line” rating and a $106.00 price target for the company. KeyCorp increased their price target on Consolidated Edison from $88.00 to $90.00 and gave the stock an “underweight” rating in a report on Wednesday, October 15th. Scotiabank increased their price objective on shares of Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Monday, August 11th. New Street Research set a $106.00 price objective on shares of Consolidated Edison in a research report on Monday, October 6th. Finally, Morgan Stanley increased 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, October 22nd. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $105.08.

Consolidated Edison Price Performance

ED stock opened at $97.44 on Friday. The stock has a market capitalization of $35.14 billion, a PE ratio of 17.68, a price-to-earnings-growth ratio of 2.70 and a beta of 0.32. The company’s 50-day moving average is $98.94 and its 200-day moving average is $102.17. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01. Consolidated Edison Inc has a 1 year low of $87.28 and a 1 year high of $114.87.

Consolidated Edison (NYSE:ED) last announced its quarterly 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 analysts’ expectations of $3.39 billion. During the same quarter last year, the firm earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities research analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Wednesday, November 19th will be given 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 3.5%. Consolidated Edison’s dividend payout ratio (DPR) 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.