Bridgewater Advisors Inc. Buys 905 Shares of Consolidated Edison Inc $ED

Bridgewater Advisors Inc. raised its stake in shares of Consolidated Edison Inc (NYSE:ED) by 16.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 6,423 shares of the utilities provider’s stock after purchasing an additional 905 shares during the period. Bridgewater Advisors Inc.’s holdings in Consolidated Edison were worth $657,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Capital Advisors Ltd. LLC grew its holdings in Consolidated Edison by 53.2% during the second quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 109 shares during the period. Financial Network Wealth Advisors LLC purchased a new position in shares of Consolidated Edison in the first quarter valued at about $33,000. Cary Street Partners Investment Advisory LLC lifted its position in shares of Consolidated Edison by 64.9% in the first 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 lifted its position in shares of Consolidated Edison by 886.5% in the second 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, SJS Investment Consulting Inc. lifted its position in shares of Consolidated Edison by 1,677.3% in the second quarter. SJS Investment Consulting Inc. now owns 391 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 369 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

NYSE:ED opened at $96.63 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $34.85 billion, a P/E ratio of 17.54, a P/E/G ratio of 2.70 and a beta of 0.32. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87. The business’s 50-day moving average is $98.88 and its 200 day moving average is $101.93.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate 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 previous year, the business earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, equities research 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 announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Wednesday, November 19th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Wednesday, November 19th. Consolidated Edison’s payout ratio is currently 61.71%.

Analyst Ratings Changes

ED has been the topic of several research analyst reports. New Street Research set a $106.00 price objective on Consolidated Edison in a research report on Monday, October 6th. Barclays lowered their price objective on Consolidated Edison from $107.00 to $105.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 21st. Bank of America downgraded Consolidated Edison from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $112.00 to $101.00 in a research report on Friday, August 15th. Scotiabank boosted their price objective on Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a research report on Monday, August 11th. Finally, Morgan Stanley boosted their price objective on Consolidated Edison from $93.00 to $100.00 and gave the company an “underweight” rating in a research report on Wednesday, October 22nd. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $105.08.

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.