Consolidated Edison Inc $ED Shares Acquired by Dogwood Wealth Management LLC

Dogwood Wealth Management LLC boosted its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 1,573.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,883 shares of the utilities provider’s stock after acquiring an additional 3,651 shares during the period. Dogwood Wealth Management LLC’s holdings in Consolidated Edison were worth $386,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Marino Stram & Associates LLC lifted its holdings in shares of Consolidated Edison by 4.8% in the 2nd quarter. Marino Stram & Associates LLC now owns 19,336 shares of the utilities provider’s stock worth $1,940,000 after acquiring an additional 891 shares during the last quarter. Presper Financial Architects LLC purchased a new position in shares of Consolidated Edison in the 2nd quarter valued at $210,000. Albion Financial Group UT grew its position in Consolidated Edison by 0.3% during the 2nd quarter. Albion Financial Group UT now owns 45,452 shares of the utilities provider’s stock worth $4,561,000 after purchasing an additional 123 shares during the last quarter. Charles Schwab Trust Co grew its position in Consolidated Edison by 23.3% during the 2nd quarter. Charles Schwab Trust Co now owns 5,300 shares of the utilities provider’s stock worth $532,000 after purchasing an additional 1,000 shares during the last quarter. Finally, LVW Advisors LLC grew its position in Consolidated Edison by 15.3% during the 2nd quarter. LVW Advisors LLC now owns 6,273 shares of the utilities provider’s stock worth $629,000 after purchasing an additional 833 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on ED shares. Bank of America cut shares of Consolidated Edison from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $112.00 to $101.00 in a research note on Friday, August 15th. Barclays boosted their target price on shares of Consolidated Edison from $101.00 to $107.00 and gave the company an “underweight” rating in a report on Wednesday, August 13th. Scotiabank lifted their price target on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a research report on Monday, August 11th. KeyCorp reissued an “overweight” rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Finally, Mizuho boosted their target price on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Consolidated Edison presently has an average rating of “Hold” and an average price target of $105.91.

Consolidated Edison Price Performance

ED stock opened at $100.51 on Wednesday. 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 one year low of $87.28 and a one year high of $114.87. The firm has a market capitalization of $36.25 billion, a PE ratio of 18.24, a P/E/G ratio of 2.77 and a beta of 0.28. The firm has a 50-day moving average of $100.19 and a two-hundred day moving average of $103.46.

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

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th were paid a dividend of $0.85 per share. The ex-dividend date was Wednesday, August 13th. This represents a $3.40 dividend on an annualized basis and a yield of 3.4%. Consolidated Edison’s payout ratio is currently 61.71%.

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.