Marino Stram & Associates LLC Boosts Position in Consolidated Edison Inc $ED

Marino Stram & Associates LLC raised its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 4.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,336 shares of the utilities provider’s stock after buying an additional 891 shares during the period. Marino Stram & Associates LLC’s holdings in Consolidated Edison were worth $1,940,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Revolve Wealth Partners LLC grew its position in shares of Consolidated Edison by 13.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock valued at $332,000 after purchasing an additional 441 shares in the last quarter. Rhumbline Advisers lifted its holdings in Consolidated Edison by 1.5% during the 1st quarter. Rhumbline Advisers now owns 751,355 shares of the utilities provider’s stock valued at $83,092,000 after buying an additional 11,089 shares in the last quarter. Czech National Bank lifted its holdings in shares of Consolidated Edison by 5.9% in the 1st quarter. Czech National Bank now owns 79,576 shares of the utilities provider’s stock worth $8,800,000 after buying an additional 4,467 shares during the period. NBC Securities Inc. lifted its position in shares of Consolidated Edison by 138,950.0% in the 1st quarter. NBC Securities Inc. now owns 2,781 shares of the utilities provider’s stock worth $307,000 after purchasing an additional 2,779 shares during the period. Finally, LVW Advisors LLC boosted its position in Consolidated Edison by 5.5% during the first quarter. LVW Advisors LLC now owns 5,440 shares of the utilities provider’s stock valued at $602,000 after purchasing an additional 282 shares in the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Bank of America downgraded shares of Consolidated Edison from a “buy” rating to an “underperform” rating and cut their price target for the stock from $112.00 to $101.00 in a report on Friday, August 15th. KeyCorp reiterated an “overweight” rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Barclays increased their price target on Consolidated Edison from $101.00 to $107.00 and gave the company an “underweight” rating in a report on Wednesday, August 13th. Scotiabank boosted their target price on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a report on Monday, August 11th. Finally, Mizuho increased their target price on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $105.91.

Consolidated Edison Trading Up 0.9%

Shares of Consolidated Edison stock opened at $100.51 on Wednesday. The business’s fifty day moving average is $100.19 and its two-hundred day moving average is $103.46. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. 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 market cap of $36.25 billion, a PE ratio of 18.24, a P/E/G ratio of 2.77 and a beta of 0.28.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. The company 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. Analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $3.40 annualized dividend and a yield of 3.4%. Consolidated Edison’s payout ratio is presently 61.71%.

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.