Patrick Mauro Investment Advisor INC. Has $506,000 Position in Consolidated Edison Inc $ED

Patrick Mauro Investment Advisor INC. trimmed its stake in shares of Consolidated Edison Inc (NYSE:ED) by 37.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,041 shares of the utilities provider’s stock after selling 3,038 shares during the quarter. Patrick Mauro Investment Advisor INC.’s holdings in Consolidated Edison were worth $506,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ED. ATLAS Infrastructure Partners UK Ltd. bought a new stake in shares of Consolidated Edison during the first quarter worth $254,205,000. Deutsche Bank AG lifted its stake in shares of Consolidated Edison by 130.6% in the 1st quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider’s stock valued at $434,266,000 after acquiring an additional 2,223,959 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Consolidated Edison by 4.5% during the 2nd quarter. Vanguard Group Inc. now owns 45,040,811 shares of the utilities provider’s stock valued at $4,519,845,000 after acquiring an additional 1,923,717 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Consolidated Edison by 106.9% during the 1st quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider’s stock valued at $308,643,000 after acquiring an additional 1,441,785 shares in the last quarter. Finally, Nuveen LLC bought a new stake in Consolidated Edison during the 1st quarter worth $146,073,000. Institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

ED has been the subject of several research reports. KeyCorp increased their target price on Consolidated Edison from $88.00 to $90.00 and gave the company an “underweight” rating in a research report on Wednesday, October 15th. Bank of America lowered shares of Consolidated Edison from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $112.00 to $101.00 in a report on Friday, August 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a research report on Monday, November 17th. Wells Fargo & Company upgraded shares of Consolidated Edison to a “hold” rating in a research report on Tuesday, October 28th. Finally, Mizuho raised their price target on shares of Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Three investment 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $104.58.

Consolidated Edison Stock Down 1.1%

Shares of NYSE ED opened at $99.86 on Friday. The company’s 50 day moving average price is $99.41 and its 200-day moving average price is $100.86. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week high of $114.87. The company has a market capitalization of $36.04 billion, a P/E ratio of 18.12, a price-to-earnings-growth ratio of 2.70 and a beta of 0.32.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share 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 prior year, the firm earned $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Equities 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 disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be paid 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 of this dividend is Wednesday, November 19th. Consolidated Edison’s payout ratio is currently 59.44%.

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.