Creative Planning Boosts Position in Consolidated Edison Inc $ED

Creative Planning lifted its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 12.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 121,394 shares of the utilities provider’s stock after acquiring an additional 13,174 shares during the quarter. Creative Planning’s holdings in Consolidated Edison were worth $12,182,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in ED. Golden State Wealth Management LLC raised its holdings in Consolidated Edison by 13.6% in the 2nd quarter. Golden State Wealth Management LLC now owns 837 shares of the utilities provider’s stock worth $84,000 after purchasing an additional 100 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake 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 valued at $1,109,000 after purchasing an additional 109 shares in the last quarter. Capital Advisors Ltd. LLC increased its position in shares of 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. Farther Finance Advisors LLC increased its position in shares of Consolidated Edison by 1.3% during the second quarter. Farther Finance Advisors LLC now owns 8,896 shares of the utilities provider’s stock valued at $893,000 after buying an additional 110 shares during the period. Finally, Avidian Wealth Enterprises LLC raised its stake in Consolidated Edison by 1.5% in the second quarter. Avidian Wealth Enterprises LLC now owns 8,216 shares of the utilities provider’s stock worth $824,000 after buying an additional 119 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Morgan Stanley lifted their price objective on Consolidated Edison from $93.00 to $100.00 and gave the company an “underweight” rating in a research report on Wednesday, October 22nd. Evercore ISI assumed coverage on Consolidated Edison in a research report on Tuesday, October 7th. They set an “in-line” rating and a $106.00 price target on the stock. New Street Research set a $106.00 price target on Consolidated Edison in a research note on Monday, October 6th. KeyCorp increased their price objective on Consolidated Edison from $88.00 to $90.00 and gave the stock an “underweight” rating in a report on Wednesday, October 15th. Finally, Bank of America cut shares of Consolidated Edison from a “buy” rating to an “underperform” rating and dropped their target price for the company from $112.00 to $101.00 in a report on Friday, August 15th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $104.75.

Consolidated Edison Price Performance

ED stock opened at $102.95 on Wednesday. The firm has a 50 day moving average price of $99.23 and a 200-day moving average price of $101.00. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week high of $114.87. The firm has a market capitalization of $37.16 billion, a price-to-earnings ratio of 18.68, a PEG 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 (NYSE:ED) last posted its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.14. 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 company posted $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Equities research analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders 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 annualized dividend and a dividend yield of 3.3%. Consolidated Edison’s dividend payout ratio (DPR) is presently 59.44%.

About Consolidated Edison

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.