LVW Advisors LLC Increases Position in Consolidated Edison Inc $ED

LVW Advisors LLC lifted its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 15.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,273 shares of the utilities provider’s stock after acquiring an additional 833 shares during the quarter. LVW Advisors LLC’s holdings in Consolidated Edison were worth $629,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of ED. Alpine Bank Wealth Management acquired a new position in Consolidated Edison in the first quarter worth about $32,000. Fort Vancouver Investment Management LLC acquired a new position in Consolidated Edison in the first quarter worth about $33,000. Financial Network Wealth Advisors LLC acquired a new position in Consolidated Edison in the first quarter worth about $33,000. Cary Street Partners Investment Advisory LLC grew its stake in Consolidated Edison by 64.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 120 shares in the last quarter. Finally, Elite Financial Inc. acquired a new position in Consolidated Edison in the first quarter worth about $38,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Stock Up 1.3%

Consolidated Edison stock opened at $99.63 on Friday. The firm has a market cap of $35.93 billion, a price-to-earnings ratio of 18.08, a P/E/G ratio of 2.77 and a beta of 0.28. 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 fifty-two week low of $87.28 and a fifty-two week high of $114.87. The firm has a fifty day moving average price of $100.30 and a two-hundred day moving average price of $103.54.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.39 billion. 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 business earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th were paid 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 was Wednesday, August 13th. Consolidated Edison’s dividend payout ratio is currently 61.71%.

Analysts Set New Price Targets

A number of equities analysts recently commented on ED shares. Morgan Stanley decreased their price target on Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating for the company in a research note on Thursday. Barclays raised their price objective on shares of Consolidated Edison from $101.00 to $107.00 and gave the company an “underweight” rating in a research note on Wednesday, August 13th. Scotiabank raised their price objective on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a research note on Monday, August 11th. Bank of America cut Consolidated Edison from a “buy” rating to an “underperform” rating and dropped their price target for the company from $112.00 to $101.00 in a report on Friday, August 15th. Finally, Mizuho lifted their price objective on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $105.91.

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.