JNBA Financial Advisors Invests $80,000 in Consolidated Edison Inc $ED

JNBA Financial Advisors bought a new position in shares of Consolidated Edison Inc (NYSE:ED) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 793 shares of the utilities provider’s stock, valued at approximately $80,000.

A number of other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC grew its holdings in shares of Consolidated Edison by 1.0% during the 2nd quarter. Exchange Traded Concepts LLC now owns 11,050 shares of the utilities provider’s stock worth $1,109,000 after purchasing an additional 109 shares during the period. Capital Advisors Ltd. LLC grew its holdings in shares of Consolidated Edison by 53.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 109 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Consolidated Edison by 1.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 8,896 shares of the utilities provider’s stock worth $893,000 after purchasing an additional 110 shares during the period. Western Wealth Management LLC grew its holdings in shares of Consolidated Edison by 0.7% during the 1st quarter. Western Wealth Management LLC now owns 16,101 shares of the utilities provider’s stock worth $1,781,000 after purchasing an additional 116 shares during the period. Finally, Eastern Bank grew its holdings in shares of Consolidated Edison by 2.9% during the 1st quarter. Eastern Bank now owns 4,294 shares of the utilities provider’s stock worth $475,000 after purchasing an additional 120 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Consolidated Edison stock opened at $102.36 on Friday. The stock has a market cap of $36.92 billion, a P/E ratio of 18.58, a price-to-earnings-growth ratio of 2.85 and a beta of 0.32. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The stock has a 50 day moving average of $99.73 and a 200-day moving average of $103.03. Consolidated Edison Inc has a 52 week low of $87.28 and a 52 week high of $114.87.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations 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 in the prior year, the business posted $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Wednesday, August 13th. Consolidated Edison’s dividend payout ratio is 61.71%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ED. KeyCorp restated an “overweight” rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Evercore ISI began coverage on Consolidated Edison in a report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 price target for the company. Barclays upped their price target on Consolidated Edison from $101.00 to $107.00 and gave the stock an “underweight” rating in a report on Wednesday, August 13th. Scotiabank upped their price target on Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a report on Monday, August 11th. Finally, New Street Research set a $106.00 price target on Consolidated Edison in a report on Monday, October 6th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $105.75.

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.