Barnes Wealth Management Group Inc Invests $256,000 in Consolidated Edison Inc $ED

Barnes Wealth Management Group Inc bought a new position in Consolidated Edison Inc (NYSE:ED) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,314 shares of the utilities provider’s stock, valued at approximately $256,000.

Several other large investors have also made changes to their positions in ED. Revolve Wealth Partners LLC grew its holdings in shares of Consolidated Edison by 13.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after purchasing an additional 441 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Consolidated Edison by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,314,463 shares of the utilities provider’s stock worth $117,288,000 after purchasing an additional 38,630 shares during the last quarter. Stifel Financial Corp grew its holdings in shares of Consolidated Edison by 4.1% in the 4th quarter. Stifel Financial Corp now owns 116,515 shares of the utilities provider’s stock worth $10,397,000 after purchasing an additional 4,625 shares during the last quarter. Dark Forest Capital Management LP grew its holdings in shares of Consolidated Edison by 238.4% in the 4th quarter. Dark Forest Capital Management LP now owns 10,030 shares of the utilities provider’s stock worth $895,000 after purchasing an additional 7,066 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Consolidated Edison by 1.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 535,588 shares of the utilities provider’s stock worth $47,792,000 after purchasing an additional 7,407 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

ED has been the topic of several analyst reports. Barclays upped their target price on shares of Consolidated Edison from $101.00 to $107.00 and gave the stock an “underweight” rating in a report on Wednesday, August 13th. Guggenheim increased their price objective on shares of Consolidated Edison from $96.00 to $103.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Mizuho increased their price objective on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Morgan Stanley decreased their price objective on shares of Consolidated Edison from $93.00 to $92.00 and set an “underweight” rating on the stock in a report on Wednesday, June 18th. Finally, Wells Fargo & Company increased their price objective on shares of Consolidated Edison from $103.00 to $114.00 and gave the stock an “equal weight” rating in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and an average target price of $105.82.

Consolidated Edison Stock Down 0.3%

Shares of NYSE ED opened at $101.4540 on Friday. The firm has a market capitalization of $36.59 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 2.83 and a beta of 0.24. 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 1 year low of $87.28 and a 1 year high of $114.87. The firm’s 50-day moving average is $101.59 and its 200-day moving average is $103.66.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.01. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.39 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same quarter last year, the firm earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Wednesday, August 13th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Wednesday, August 13th. Consolidated Edison’s dividend payout ratio (DPR) is currently 61.71%.

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.