Ethos Financial Group LLC Has $1.65 Million Position in Consolidated Edison Inc $ED

Ethos Financial Group LLC increased its stake in shares of Consolidated Edison Inc (NYSE:ED) by 4.9% in the second quarter, Holdings Channel.com reports. The firm owned 16,413 shares of the utilities provider’s stock after buying an additional 765 shares during the quarter. Ethos Financial Group LLC’s holdings in Consolidated Edison were worth $1,647,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ED. Vanguard Group Inc. grew its stake in shares of Consolidated Edison by 1.6% during the first quarter. Vanguard Group Inc. now owns 43,117,094 shares of the utilities provider’s stock worth $4,768,319,000 after buying an additional 661,432 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Consolidated Edison by 1.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,868,772 shares of the utilities provider’s stock valued at $538,437,000 after acquiring an additional 48,323 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Consolidated Edison by 130.6% during the 1st quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider’s stock valued at $434,266,000 after acquiring an additional 2,223,959 shares in the last quarter. JPMorgan Chase & Co. grew its position in Consolidated Edison by 106.9% during the 1st quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider’s stock worth $308,643,000 after acquiring an additional 1,441,785 shares during the last quarter. Finally, ATLAS Infrastructure Partners UK Ltd. acquired a new position in Consolidated Edison in the 1st quarter worth about $254,205,000. Institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on ED shares. Morgan Stanley lifted their price target on Consolidated Edison from $93.00 to $100.00 and gave the company an “underweight” rating in a research note on Wednesday, October 22nd. Evercore ISI started coverage on shares of Consolidated Edison in a research report on Tuesday, October 7th. They set an “in-line” rating and a $106.00 target price on the stock. Wells Fargo & Company raised shares of Consolidated Edison to a “hold” rating in a report on Tuesday, October 28th. Scotiabank raised their price target on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a research note on Monday, August 11th. Finally, New Street Research set a $106.00 price objective on shares of Consolidated Edison in a research note on Monday, October 6th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, Consolidated Edison currently has a consensus rating of “Reduce” and a consensus target price of $105.08.

Consolidated Edison Trading Up 0.8%

ED opened at $96.89 on Friday. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87. The company has a fifty day moving average of $98.74 and a 200-day moving average of $101.76. The stock has a market cap of $34.94 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 2.70 and a beta of 0.32. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.14. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. The business had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter in the prior year, the firm posted $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, sell-side analysts predict 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 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 yield of 3.5%. Consolidated Edison’s payout ratio is 61.71%.

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.