Consolidated Edison Inc $ED Shares Bought by TriaGen Wealth Management LLC

TriaGen Wealth Management LLC raised its holdings in Consolidated Edison Inc (NYSE:ED) by 16.6% during the 2nd quarter, Holdings Channel reports. The firm owned 6,205 shares of the utilities provider’s stock after purchasing an additional 883 shares during the quarter. TriaGen Wealth Management LLC’s holdings in Consolidated Edison were worth $623,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ED. Alpine Bank Wealth Management acquired a new position in shares of Consolidated Edison during the 1st quarter worth approximately $32,000. Fort Vancouver Investment Management LLC purchased a new position in Consolidated Edison during the first quarter worth $33,000. Financial Network Wealth Advisors LLC purchased a new position in Consolidated Edison during the first quarter worth $33,000. Cary Street Partners Investment Advisory LLC raised its holdings in shares of 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 acquiring an additional 120 shares during the last quarter. Finally, Elite Financial Inc. acquired a new position in shares of Consolidated Edison in the first quarter worth $38,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

ED opened at $99.28 on Tuesday. The company’s 50 day simple moving average is $99.91 and its 200 day simple moving average is $103.17. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. Consolidated Edison Inc has a 1 year low of $87.28 and a 1 year high of $114.87. The stock has a market capitalization of $35.81 billion, a PE ratio of 18.02, a P/E/G ratio of 2.75 and a beta of 0.32.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. The firm 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 posted $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, sell-side analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Wednesday, August 13th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Wednesday, August 13th. Consolidated Edison’s dividend payout ratio (DPR) is 61.71%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. KeyCorp reaffirmed an “overweight” rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Bank of America lowered shares of Consolidated Edison from a “buy” rating to an “underperform” rating and reduced their target price for the company from $112.00 to $101.00 in a report on Friday, August 15th. Barclays lifted their price target on shares of Consolidated Edison from $101.00 to $107.00 and gave the stock an “underweight” rating in a report on Wednesday, August 13th. Scotiabank upped 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. Finally, Morgan Stanley lowered their target price on shares of Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating for the company in a research note on Thursday, September 25th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $105.92.

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.