Consolidated Edison Inc $ED Stock Holdings Increased by Journey Strategic Wealth LLC

Journey Strategic Wealth LLC grew its stake in shares of Consolidated Edison Inc (NYSE:ED) by 49.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,039 shares of the utilities provider’s stock after purchasing an additional 1,993 shares during the period. Journey Strategic Wealth LLC’s holdings in Consolidated Edison were worth $606,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Revolve Wealth Partners LLC raised its holdings in shares of Consolidated Edison by 13.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after acquiring an additional 441 shares in the last quarter. Pinnacle Associates Ltd. boosted its holdings in Consolidated Edison by 0.4% during the first quarter. Pinnacle Associates Ltd. now owns 35,781 shares of the utilities provider’s stock valued at $3,957,000 after acquiring an additional 125 shares during the period. Cetera Investment Advisers boosted its stake in Consolidated Edison by 6.0% during the 1st quarter. Cetera Investment Advisers now owns 93,556 shares of the utilities provider’s stock valued at $10,346,000 after purchasing an additional 5,281 shares during the period. Equitable Trust Co. grew its position in Consolidated Edison by 1.4% in the 1st quarter. Equitable Trust Co. now owns 12,147 shares of the utilities provider’s stock worth $1,343,000 after purchasing an additional 165 shares during the last quarter. Finally, Applied Finance Capital Management LLC increased its stake in Consolidated Edison by 23.9% during the first quarter. Applied Finance Capital Management LLC now owns 8,832 shares of the utilities provider’s stock valued at $977,000 after acquiring an additional 1,704 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. KeyCorp raised their price target on shares of Consolidated Edison from $88.00 to $90.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Consolidated Edison in a research note on Monday, November 17th. Evercore ISI assumed coverage on Consolidated Edison in a report on Tuesday, October 7th. They set an “in-line” rating and a $106.00 target price on the stock. New Street Research set a $106.00 price objective on shares of Consolidated Edison in a research report on Monday, October 6th. Finally, Mizuho raised their target price 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. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, Consolidated Edison has a consensus rating of “Reduce” and an average target price of $104.58.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $99.86 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The company has a market cap of $36.04 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 2.70 and a beta of 0.32. The company has a 50 day moving average of $99.41 and a 200-day moving average of $100.86. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year high of $114.87.

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, beating 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 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. As a group, equities research analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The firm 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. This represents a $3.40 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, November 19th. Consolidated Edison’s 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.