Steward Partners Investment Advisory LLC Purchases 831 Shares of Consolidated Edison Inc $ED

Steward Partners Investment Advisory LLC boosted its holdings in Consolidated Edison Inc (NYSE:ED) by 5.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,285 shares of the utilities provider’s stock after purchasing an additional 831 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Consolidated Edison were worth $1,735,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. ATLAS Infrastructure Partners UK Ltd. bought a new stake in shares of Consolidated Edison during the first quarter worth about $254,205,000. Deutsche Bank AG boosted its stake in 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 purchasing an additional 2,223,959 shares during the last quarter. Vanguard Group Inc. increased its holdings in Consolidated Edison by 4.5% during the 2nd quarter. Vanguard Group Inc. now owns 45,040,811 shares of the utilities provider’s stock worth $4,519,845,000 after purchasing an additional 1,923,717 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Consolidated Edison by 106.9% in the first quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider’s stock worth $308,643,000 after purchasing an additional 1,441,785 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Consolidated Edison in the first quarter worth approximately $146,073,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of ED stock opened at $100.43 on Friday. The firm has a market cap of $36.25 billion, a price-to-earnings ratio of 18.23, a P/E/G 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 52 week low of $87.28 and a 52 week high of $114.87. The firm’s 50-day simple moving average is $99.75 and its two-hundred day simple moving average is $100.63.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share 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%. During the same quarter in the prior year, the company posted $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. As a group, equities analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, November 19th. Consolidated Edison’s dividend payout ratio (DPR) is currently 59.44%.

Wall Street Analyst Weigh In

ED has been the topic of several analyst reports. 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 target price on the stock. Wells Fargo & Company upgraded Consolidated Edison to a “hold” rating in a research note on Tuesday, October 28th. Bank of America lowered shares of Consolidated Edison from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $112.00 to $101.00 in a research note on Friday, August 15th. Barclays lowered their target price on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a report on Monday, November 10th. Finally, Morgan Stanley restated an “underweight” rating and set a $98.00 price target on shares of Consolidated Edison in a report on Thursday, November 20th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $104.58.

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.