Jefferies Financial Group Inc. Invests $1.05 Million in Consolidated Edison Inc $ED

Jefferies Financial Group Inc. purchased a new stake in Consolidated Edison Inc (NYSE:ED) during the second quarter, according to its most recent filing with the SEC. The firm purchased 10,476 shares of the utilities provider’s stock, valued at approximately $1,051,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Advisors Ltd. LLC raised 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 worth $32,000 after purchasing an additional 109 shares during the period. Financial Network Wealth Advisors LLC bought a new stake in shares of Consolidated Edison in the 1st quarter valued at $33,000. Cary Street Partners Investment Advisory LLC raised its stake in Consolidated Edison by 64.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock worth $34,000 after buying an additional 120 shares during the period. Bogart Wealth LLC lifted its holdings in Consolidated Edison by 886.5% during the second quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 328 shares in the last quarter. Finally, SJS Investment Consulting Inc. grew its stake in Consolidated Edison by 1,677.3% in the second quarter. SJS Investment Consulting Inc. now owns 391 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 369 shares during the period. Institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wells Fargo & Company upgraded Consolidated Edison to a “hold” rating in a report on Tuesday, October 28th. Evercore ISI began coverage on shares of Consolidated Edison in a research note 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 report on Friday, August 15th. Morgan Stanley restated an “underweight” rating and set a $98.00 price objective on shares of Consolidated Edison in a report on Thursday, November 20th. Finally, Scotiabank upped their target price on shares of Consolidated Edison from $101.00 to $106.00 and gave the stock 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 issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $104.58.

Consolidated Edison Stock Performance

Shares of ED stock opened at $100.21 on Thursday. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87. The company’s fifty day simple moving average is $99.59 and its 200-day simple moving average is $100.66. The firm has a market cap of $36.17 billion, a PE ratio of 18.19, a P/E/G ratio of 2.70 and a beta of 0.32. 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 (NYSE:ED) last issued its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the company posted $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Equities research analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Wednesday, November 19th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $3.40 annualized dividend and a yield of 3.4%. Consolidated Edison’s dividend payout ratio is 59.44%.

Consolidated Edison 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.