Cetera Investment Advisers Acquires 3,494 Shares of Consolidated Edison Inc $ED

Cetera Investment Advisers grew its holdings in Consolidated Edison Inc (NYSE:ED) by 3.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 97,050 shares of the utilities provider’s stock after buying an additional 3,494 shares during the quarter. Cetera Investment Advisers’ holdings in Consolidated Edison were worth $9,739,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ED. Capital Advisors Ltd. LLC increased its holdings in Consolidated Edison by 53.2% during the second quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock valued at $32,000 after buying an additional 109 shares during the period. Financial Network Wealth Advisors LLC bought a new stake in Consolidated Edison during the 1st quarter valued at $33,000. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Consolidated Edison by 64.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 120 shares during the period. Bogart Wealth LLC increased its holdings in shares of Consolidated Edison by 886.5% in the 2nd quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 328 shares during the period. Finally, SJS Investment Consulting Inc. raised its position in shares of Consolidated Edison by 1,677.3% in the 2nd quarter. SJS Investment Consulting Inc. now owns 391 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 369 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ED shares. Evercore ISI started coverage on Consolidated Edison in a research report on Tuesday, October 7th. They set an “in-line” rating and a $106.00 price objective on the stock. Wells Fargo & Company upgraded shares of Consolidated Edison to a “hold” rating in a report on Tuesday, October 28th. Bank of America downgraded shares of Consolidated Edison from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $112.00 to $101.00 in a research report on Friday, August 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Consolidated Edison in a research report on Monday. Finally, Scotiabank raised their target price 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. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $104.58.

Consolidated Edison Stock Down 1.1%

NYSE:ED opened at $99.86 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. 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 $36.04 billion, a PE ratio of 18.12, a P/E/G ratio of 2.70 and a beta of 0.32. The company’s 50 day moving average is $99.41 and its two-hundred day moving average is $100.92.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, topping 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%. During the same period in the previous year, the company earned $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The company 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. This represents a $3.40 annualized dividend and a yield of 3.4%. The ex-dividend date is Wednesday, November 19th. Consolidated Edison’s payout ratio is presently 59.44%.

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.