Vanguard Personalized Indexing Management LLC Boosts Holdings in Consolidated Edison Inc $ED

Vanguard Personalized Indexing Management LLC lifted its stake in Consolidated Edison Inc (NYSE:ED) by 12.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,854 shares of the utilities provider’s stock after purchasing an additional 7,761 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Consolidated Edison were worth $7,111,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alpine Bank Wealth Management purchased a new stake in shares of Consolidated Edison in the 1st quarter worth about $32,000. Capital Advisors Ltd. LLC lifted its position in shares of Consolidated Edison by 53.2% in the 2nd 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. Fort Vancouver Investment Management LLC purchased a new stake in shares of Consolidated Edison in the 1st quarter worth about $33,000. Financial Network Wealth Advisors LLC purchased a new stake in shares of Consolidated Edison in the 1st quarter worth about $33,000. Finally, Cary Street Partners Investment Advisory LLC lifted 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 worth $34,000 after purchasing an additional 120 shares during the period. 66.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Morgan Stanley dropped 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 report on Thursday, September 25th. Evercore ISI started coverage on shares of Consolidated Edison in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 target price for the company. New Street Research set a $106.00 price target on shares of Consolidated Edison in a research note on Monday, October 6th. Scotiabank increased their price target on shares of Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research note on Monday, August 11th. Finally, Mizuho increased their price target 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. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $105.75.

Consolidated Edison Stock Up 1.5%

Shares of Consolidated Edison stock opened at $102.36 on Monday. 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 stock has a market capitalization of $36.92 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 2.85 and a beta of 0.32. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week high of $114.87. The company has a 50-day simple moving average of $99.73 and a two-hundred day simple moving average of $103.00.

Consolidated Edison (NYSE:ED) last issued its earnings results 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 business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same period in the previous year, the company earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th were paid a $0.85 dividend. The ex-dividend date was Wednesday, August 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.3%. Consolidated Edison’s payout ratio is currently 61.71%.

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.