Blair William & Co. IL Boosts Holdings in Consolidated Edison Inc $ED

Blair William & Co. IL lifted its stake in Consolidated Edison Inc (NYSE:ED) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,823 shares of the utilities provider’s stock after purchasing an additional 718 shares during the quarter. Blair William & Co. IL’s holdings in Consolidated Edison were worth $2,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Alpine Bank Wealth Management purchased a new position in shares of Consolidated Edison in the 1st quarter worth about $32,000. Capital Advisors Ltd. LLC increased its holdings in 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 buying an additional 109 shares in the last quarter. Fort Vancouver Investment Management LLC bought a new stake in Consolidated Edison in the 1st quarter worth about $33,000. Financial Network Wealth Advisors LLC bought a new stake in Consolidated Edison in the 1st quarter worth about $33,000. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in 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 buying an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

ED has been the subject of several research analyst reports. Scotiabank lifted their price objective on Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a report on Monday, August 11th. KeyCorp reiterated an “overweight” rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a report on Wednesday, October 8th. Barclays lifted their price objective on Consolidated Edison from $101.00 to $107.00 and gave the stock an “underweight” rating in a report on Wednesday, August 13th. Finally, New Street Research set a $106.00 price objective on Consolidated Edison in a report on Monday, October 6th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $105.75.

Consolidated Edison Stock Down 1.5%

Shares of ED opened at $100.85 on Tuesday. The stock has a market capitalization of $36.37 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 2.85 and a beta of 0.32. Consolidated Edison Inc has a 1 year low of $87.28 and a 1 year high of $114.87. The business’s 50 day simple moving average is $99.64 and its 200-day simple moving average is $102.94. 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 (NYSE:ED) last issued 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 business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.During the same period in the prior year, the firm earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, equities analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th were given 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 dividend yield of 3.4%. Consolidated Edison’s payout ratio is currently 61.71%.

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.