Consolidated Edison Inc $ED Shares Bought by Flaharty Asset Management LLC

Flaharty Asset Management LLC increased its stake in Consolidated Edison Inc (NYSE:ED) by 1,993.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,661 shares of the utilities provider’s stock after acquiring an additional 11,104 shares during the period. Consolidated Edison makes up 0.2% of Flaharty Asset Management LLC’s investment portfolio, making the stock its 28th largest position. Flaharty Asset Management LLC’s holdings in Consolidated Edison were worth $1,170,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC boosted its holdings in shares of Consolidated Edison by 13.6% in the 2nd quarter. Golden State Wealth Management LLC now owns 837 shares of the utilities provider’s stock valued at $84,000 after purchasing an additional 100 shares during the last quarter. Exchange Traded Concepts LLC raised its position in shares of Consolidated Edison by 1.0% in the 2nd quarter. Exchange Traded Concepts LLC now owns 11,050 shares of the utilities provider’s stock worth $1,109,000 after buying an additional 109 shares during the period. Capital Advisors Ltd. LLC boosted its holdings in Consolidated Edison by 53.2% in the second quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 109 shares during the last quarter. Farther Finance Advisors LLC grew its position in 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 acquiring an additional 110 shares during the period. Finally, Avidian Wealth Enterprises LLC grew its position in Consolidated Edison by 1.5% during the second quarter. Avidian Wealth Enterprises LLC now owns 8,216 shares of the utilities provider’s stock valued at $824,000 after acquiring an additional 119 shares during the period. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ED shares. KeyCorp raised 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. Evercore ISI assumed coverage on shares of Consolidated Edison in a report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 price target on the stock. Bank of America cut shares of Consolidated Edison from a “buy” rating to an “underperform” rating and reduced their price target for the company from $112.00 to $101.00 in a research report on Friday, August 15th. New Street Research set a $106.00 price objective on shares of Consolidated Edison in a research report on Monday, October 6th. Finally, Scotiabank raised their target price on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a research note on Monday, August 11th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $104.75.

Consolidated Edison Stock Up 0.6%

Shares of NYSE:ED opened at $101.60 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week high of $114.87. The company has a 50 day moving average of $98.97 and a two-hundred day moving average of $101.27. The company has a market capitalization of $36.67 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 2.70 and a beta of 0.32.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, November 6th. The utilities provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates 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 in the previous year, the company earned $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. As a group, analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, November 19th. Consolidated Edison’s dividend payout ratio 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.