Walled Lake Planning & Wealth Management LLC Sells 2,142 Shares of Consolidated Edison Inc $ED

Walled Lake Planning & Wealth Management LLC reduced its stake in shares of Consolidated Edison Inc (NYSE:ED) by 48.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,291 shares of the utilities provider’s stock after selling 2,142 shares during the quarter. Walled Lake Planning & Wealth Management LLC’s holdings in Consolidated Edison were worth $230,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ED. Capital Advisors Ltd. LLC lifted its position in Consolidated Edison by 53.2% during 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 acquired a new position in shares of Consolidated Edison in the 1st quarter valued at approximately $33,000. Cary Street Partners Investment Advisory LLC raised its position in shares of Consolidated Edison by 64.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock valued at $34,000 after buying an additional 120 shares in the last quarter. Bogart Wealth LLC lifted its holdings in shares of Consolidated Edison by 886.5% during the 2nd quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 328 shares during the period. Finally, SJS Investment Consulting Inc. lifted its holdings in shares of Consolidated Edison by 1,677.3% during the 2nd quarter. SJS Investment Consulting Inc. now owns 391 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 369 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

ED has been the topic of a number of recent analyst reports. Morgan Stanley reissued an “underweight” rating and issued a $98.00 price objective on shares of Consolidated Edison in a research note on Thursday. Barclays reduced their target price on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a report on Monday, November 10th. KeyCorp lifted their price target on Consolidated Edison from $88.00 to $90.00 and gave the company an “underweight” rating in a research note on Wednesday, October 15th. Wells Fargo & Company upgraded Consolidated Edison to a “hold” rating in a research report on Tuesday, October 28th. Finally, Mizuho raised their price objective on Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research note 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average 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. 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 PE ratio of 18.12, a price-to-earnings-growth ratio of 2.70 and a beta of 0.32. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. The company has a fifty day moving average of $99.41 and a 200-day moving average of $100.86.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data 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 return on equity of 8.56% and a net margin of 11.98%.During the same quarter last year, the company posted $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, equities analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 3.4%. The ex-dividend date is Wednesday, November 19th. 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.