Polianta Ltd Purchases Shares of 14,400 Consolidated Edison Inc $ED

Polianta Ltd acquired a new position in Consolidated Edison Inc (NYSE:ED) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 14,400 shares of the utilities provider’s stock, valued at approximately $1,447,000.

Several other large investors also recently bought and sold shares of the business. 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 worth $84,000 after purchasing an additional 100 shares during the period. Certuity LLC increased its stake in Consolidated Edison by 2.7% in the second quarter. Certuity LLC now owns 3,743 shares of the utilities provider’s stock worth $376,000 after purchasing an additional 100 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of Consolidated Edison by 1.0% during the second quarter. Exchange Traded Concepts LLC now owns 11,050 shares of the utilities provider’s stock worth $1,109,000 after purchasing an additional 109 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of Consolidated Edison by 53.2% during the second quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 109 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in Consolidated Edison by 1.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 8,896 shares of the utilities provider’s stock valued at $893,000 after buying an additional 110 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ED shares. Barclays decreased their target price on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a research report on Monday, November 10th. Evercore ISI started coverage on shares of Consolidated Edison in a report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 target price for the company. JPMorgan Chase & Co. cut their price objective on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating on the stock in a research report on Friday, December 12th. KeyCorp lowered their target price on shares of Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating for the company in a research note on Friday, December 12th. Finally, New Street Research set a $106.00 target price on Consolidated Edison in a research report on Monday, October 6th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $102.54.

Consolidated Edison Stock Performance

ED opened at $99.53 on Friday. The firm has a 50 day moving average of $98.97 and a two-hundred day moving average of $99.91. The firm has a market capitalization of $35.92 billion, a PE ratio of 17.40, a P/E/G ratio of 2.88 and a beta of 0.37. The company has a current ratio of 1.08, a quick ratio of 0.97 and a debt-to-equity ratio of 1.03. Consolidated Edison Inc has a 12-month low of $87.28 and a 12-month high of $114.87.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.14. The company had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.22 billion. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.27%.During the same period last year, the firm earned $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Wednesday, November 19th. Consolidated Edison’s payout ratio is 59.44%.

Insider Activity

In other news, Director John F. Killian sold 2,276 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $96.89, for a total transaction of $220,521.64. Following the sale, the director directly owned 38,661 shares in the company, valued at $3,745,864.29. This trade represents a 5.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Consolidated Edison Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.