Consolidated Edison Inc $ED Stock Position Raised by Integrity Alliance LLC.

Integrity Alliance LLC. raised its position in shares of Consolidated Edison Inc (NYSE:ED) by 108.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,306 shares of the utilities provider’s stock after purchasing an additional 2,763 shares during the period. Integrity Alliance LLC.’s holdings in Consolidated Edison were worth $532,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ED. Capital Advisors Ltd. LLC raised its stake in shares of Consolidated Edison by 53.2% during 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 in the last quarter. Financial Network Wealth Advisors LLC purchased a new stake in shares of Consolidated Edison during the 1st quarter worth about $33,000. Cary Street Partners Investment Advisory LLC raised its stake 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 valued at $34,000 after acquiring an additional 120 shares in the last quarter. Bogart Wealth LLC raised its stake in shares of Consolidated Edison by 886.5% in the 2nd quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 328 shares in the last quarter. Finally, Elite Financial Inc. bought a new position in shares of Consolidated Edison in the 1st quarter valued at approximately $38,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. New Street Research set a $106.00 price objective on Consolidated Edison in a research note on Monday, October 6th. Bank of America downgraded Consolidated Edison from a “buy” rating to an “underperform” rating and cut their price objective for the company from $112.00 to $101.00 in a research note on Friday, August 15th. Scotiabank raised their price objective on Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a research note on Monday, August 11th. Wells Fargo & Company raised Consolidated Edison to a “hold” rating in a research note on Tuesday, October 28th. Finally, Morgan Stanley raised their price objective on Consolidated Edison from $93.00 to $100.00 and gave the company an “underweight” rating in a research note on Wednesday, October 22nd. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $105.08.

Consolidated Edison Stock Performance

ED opened at $97.44 on Friday. The firm has a market capitalization of $35.14 billion, a P/E ratio of 17.68, a price-to-earnings-growth ratio of 2.70 and a beta of 0.32. The stock’s 50 day moving average price is $98.94 and its two-hundred day moving average price is $102.11. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a 12-month low of $87.28 and a 12-month high of $114.87.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.01. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter last year, the firm earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, equities analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, November 19th. Consolidated Edison’s dividend payout ratio (DPR) is presently 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.