West Family Investments Inc. Acquires 1,132 Shares of Consolidated Edison Inc $ED

West Family Investments Inc. lifted its stake in shares of Consolidated Edison Inc (NYSE:ED) by 12.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 10,377 shares of the utilities provider’s stock after buying an additional 1,132 shares during the period. West Family Investments Inc.’s holdings in Consolidated Edison were worth $1,041,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ED. Capital Advisors Ltd. LLC increased its stake in Consolidated Edison by 53.2% in 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 in the last quarter. Financial Network Wealth Advisors LLC bought a new stake in Consolidated Edison in the 1st quarter valued at about $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 boosted its holdings in Consolidated Edison by 886.5% in 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. boosted its holdings 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 worth $39,000 after acquiring an additional 369 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ED. Bank of America lowered Consolidated Edison from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $112.00 to $101.00 in a research report on Friday, August 15th. Mizuho boosted their price objective on Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Evercore ISI started coverage on Consolidated Edison in a report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 target price on the stock. Wells Fargo & Company upgraded Consolidated Edison to a “hold” rating in a report on Tuesday, October 28th. Finally, Barclays lowered their price target 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. 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $104.58.

Consolidated Edison Trading Up 0.3%

Shares of Consolidated Edison stock opened at $100.43 on Friday. The firm has a market cap of $36.25 billion, a PE ratio of 18.23, a P/E/G ratio of 2.70 and a beta of 0.32. The stock has a fifty day moving average price of $99.75 and a 200-day moving average price of $100.63. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01. Consolidated Edison Inc has a 1 year low of $87.28 and a 1 year high of $114.87.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.90 EPS for the quarter, topping 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 business earned $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Equities research analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, November 19th. Consolidated Edison’s dividend payout ratio is 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.