Guardian Wealth Advisors LLC Reduces Stock Holdings in Consolidated Edison Inc $ED

Guardian Wealth Advisors LLC lessened its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 4.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,667 shares of the utilities provider’s stock after selling 288 shares during the period. Guardian Wealth Advisors LLC’s holdings in Consolidated Edison were worth $569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. ATLAS Infrastructure Partners UK Ltd. acquired a new stake in Consolidated Edison during the 1st quarter worth about $254,205,000. Deutsche Bank AG lifted its holdings in Consolidated Edison by 130.6% in the first quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider’s stock valued at $434,266,000 after acquiring an additional 2,223,959 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Consolidated Edison by 106.9% during the 1st quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider’s stock worth $308,643,000 after purchasing an additional 1,441,785 shares during the period. Nuveen LLC purchased a new position in shares of Consolidated Edison during the 1st quarter valued at approximately $146,073,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Consolidated Edison by 215.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,688,480 shares of the utilities provider’s stock valued at $186,730,000 after purchasing an additional 1,152,892 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Down 0.8%

ED stock opened at $99.99 on Friday. Consolidated Edison Inc has a 52 week low of $87.28 and a 52 week high of $114.87. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. The firm has a 50-day simple moving average of $99.23 and a 200-day simple moving average of $102.53. The stock has a market capitalization of $36.06 billion, a P/E ratio of 18.15, a P/E/G ratio of 2.79 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period last year, the company posted $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Wednesday, November 19th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Wednesday, November 19th. Consolidated Edison’s payout ratio is presently 61.71%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ED shares. Bank of America lowered shares of 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 research report on Friday, August 15th. 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. Morgan Stanley raised their target price on Consolidated Edison from $93.00 to $100.00 and gave the company an “underweight” rating in a research report on Wednesday. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a research note on Wednesday, October 8th. Finally, Evercore ISI initiated coverage on Consolidated Edison in a research report on Tuesday, October 7th. They set an “in-line” rating and a $106.00 price target on the stock. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, Consolidated Edison currently has an average rating of “Reduce” and a consensus target price of $106.33.

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.