Empower Advisory Group LLC Sells 891 Shares of Consolidated Edison Inc $ED

Empower Advisory Group LLC cut its stake in Consolidated Edison Inc (NYSE:ED) by 0.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,563 shares of the utilities provider’s stock after selling 891 shares during the quarter. Empower Advisory Group LLC’s holdings in Consolidated Edison were worth $10,192,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. ATLAS Infrastructure Partners UK Ltd. acquired a new position in shares of Consolidated Edison in the 1st quarter valued at approximately $254,205,000. Deutsche Bank AG boosted its stake in shares of Consolidated Edison by 130.6% during the first 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 in the last quarter. JPMorgan Chase & Co. grew its holdings 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. Nuveen LLC bought a new stake in shares of Consolidated Edison in the first quarter worth $146,073,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Consolidated Edison by 215.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,688,480 shares of the utilities provider’s stock valued at $186,730,000 after buying an additional 1,152,892 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Performance

Consolidated Edison stock opened at $101.60 on Friday. The firm’s fifty day moving average price is $98.97 and its 200-day moving average price is $101.19. Consolidated Edison Inc has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. The stock has a market cap of $36.67 billion, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 2.70 and a beta of 0.32.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, November 6th. The utilities provider reported $1.90 EPS for the quarter, beating the consensus estimate 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 last year, the company posted $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, equities research analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal 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 issued a dividend of $0.85 per share. The ex-dividend date is Wednesday, November 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.3%. Consolidated Edison’s dividend payout ratio is 59.44%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ED. Mizuho boosted their price objective on Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of Consolidated Edison in a research report on Tuesday. Bank of America lowered Consolidated Edison from a “buy” rating to an “underperform” rating and lowered their price target for the company from $112.00 to $101.00 in a research report on Friday, August 15th. Scotiabank boosted their target price on Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research note on Monday, August 11th. Finally, Morgan Stanley increased their price target on shares of Consolidated Edison from $93.00 to $100.00 and gave the company an “underweight” rating in a research report on Wednesday, October 22nd. 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 has an average rating of “Reduce” and a consensus price target of $104.75.

Consolidated Edison 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.