Park Avenue Securities LLC Invests $2.38 Million in Consolidated Edison Inc $ED

Park Avenue Securities LLC bought a new stake in shares of Consolidated Edison Inc (NYSE:ED) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 23,709 shares of the utilities provider’s stock, valued at approximately $2,383,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Salomon & Ludwin LLC lifted its position in shares of Consolidated Edison by 270.4% during the 3rd quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock valued at $30,000 after buying an additional 219 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in Consolidated Edison by 53.2% during the second quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 109 shares during the period. Bogart Wealth LLC raised its position in Consolidated Edison by 886.5% during the second quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 328 shares during the period. SJS Investment Consulting Inc. lifted its holdings in Consolidated Edison by 1,677.3% during the second quarter. SJS Investment Consulting Inc. now owns 391 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 369 shares in the last quarter. Finally, True Wealth Design LLC grew its position in shares of Consolidated Edison by 392.1% in the third quarter. True Wealth Design LLC now owns 497 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 396 shares during the period. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Stock Down 1.0%

Shares of NYSE ED opened at $99.21 on Friday. The company has a market capitalization of $35.81 billion, a P/E ratio of 17.34, a P/E/G ratio of 2.71 and a beta of 0.39. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.08 and a quick ratio of 0.97. The company has a 50 day simple moving average of $98.87 and a 200-day simple moving average of $99.73. Consolidated Edison Inc has a 1 year low of $87.28 and a 1 year high of $114.87.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.14. The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.22 billion. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.27%.During the same period in the prior year, the business posted $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, equities research analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Wednesday, November 19th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.4%. The ex-dividend date was Wednesday, November 19th. Consolidated Edison’s payout ratio is 59.44%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ED. Barclays reduced their price target on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a research report on Monday, November 10th. Cowen began coverage on Consolidated Edison in a report on Thursday. They set a “hold” rating for the company. New Street Research set a $106.00 price target on Consolidated Edison in a research note on Monday, October 6th. UBS Group boosted their price target on Consolidated Edison from $104.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Wells Fargo & Company raised Consolidated Edison to a “hold” rating in a research note on Tuesday, October 28th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $103.53.

Insider Transactions at Consolidated Edison

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $96.89, for a total value of $220,521.64. Following the transaction, the director owned 38,661 shares of the company’s stock, valued at $3,745,864.29. This represents a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.19% of the company’s stock.

About Consolidated Edison

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.