Simon Quick Advisors LLC Has $2.30 Million Stake in Consolidated Edison Inc $ED

Simon Quick Advisors LLC raised its holdings in Consolidated Edison Inc (NYSE:ED) by 262.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,903 shares of the utilities provider’s stock after acquiring an additional 16,584 shares during the period. Simon Quick Advisors LLC’s holdings in Consolidated Edison were worth $2,298,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. AG2R LA Mondiale Gestion D Actifs acquired a new position in shares of Consolidated Edison during the first quarter worth about $1,631,000. RDA Financial Network acquired a new position in shares of Consolidated Edison during the second quarter worth about $367,000. Nordea Investment Management AB boosted its position in shares of Consolidated Edison by 11.4% during the second quarter. Nordea Investment Management AB now owns 19,850 shares of the utilities provider’s stock worth $1,973,000 after buying an additional 2,027 shares during the period. Wesbanco Bank Inc. boosted its position in shares of Consolidated Edison by 39.8% during the second quarter. Wesbanco Bank Inc. now owns 11,305 shares of the utilities provider’s stock worth $1,134,000 after buying an additional 3,218 shares during the period. Finally, Jacobi Capital Management LLC boosted its position in Consolidated Edison by 37.4% during the first quarter. Jacobi Capital Management LLC now owns 3,530 shares of the utilities provider’s stock valued at $390,000 after purchasing an additional 961 shares during the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Trading Up 1.2%

NYSE ED opened at $98.19 on Friday. The business’s 50-day moving average price is $99.03 and its two-hundred day moving average price is $102.28. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87. The firm has a market capitalization of $35.41 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 2.70 and a beta of 0.32. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 EPS 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 company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period in the prior year, the firm posted $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently announced 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. The ex-dividend date is Wednesday, November 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.5%. Consolidated Edison’s dividend payout ratio is presently 61.71%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Morgan Stanley increased their price target on Consolidated Edison from $93.00 to $100.00 and gave the company an “underweight” rating in a research report on Wednesday, October 22nd. New Street Research set a $106.00 price objective on shares of Consolidated Edison in a research report on Monday, October 6th. Bank of America downgraded shares of Consolidated Edison from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $112.00 to $101.00 in a research report on Friday, August 15th. Evercore ISI assumed coverage on shares of Consolidated Edison in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 price objective for the company. Finally, Wells Fargo & Company raised Consolidated Edison to a “hold” rating in a research report on Tuesday. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $105.08.

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.