Garde Capital Inc. Acquires 150 Shares of Consolidated Edison Inc $ED

Garde Capital Inc. boosted its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 34.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 589 shares of the utilities provider’s stock after acquiring an additional 150 shares during the period. Garde Capital Inc.’s holdings in Consolidated Edison were worth $59,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Merit Financial Group LLC lifted its holdings in Consolidated Edison by 16.8% during the first quarter. Merit Financial Group LLC now owns 10,666 shares of the utilities provider’s stock worth $1,180,000 after acquiring an additional 1,533 shares in the last quarter. Ritholtz Wealth Management bought a new stake in shares of Consolidated Edison in the first quarter valued at about $227,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Consolidated Edison by 2.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 250,014 shares of the utilities provider’s stock valued at $27,649,000 after purchasing an additional 6,869 shares in the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of Consolidated Edison in the first quarter valued at about $217,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Consolidated Edison by 45.0% in the first quarter. GAMMA Investing LLC now owns 9,242 shares of the utilities provider’s stock valued at $1,022,000 after purchasing an additional 2,869 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ED shares. Mizuho boosted their price target on Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Scotiabank boosted their price target on Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a report on Monday, August 11th. Morgan Stanley restated an “underweight” rating on shares of Consolidated Edison in a report on Thursday, August 21st. KeyCorp restated an “overweight” rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Finally, Bank of America lowered Consolidated Edison from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $112.00 to $101.00 in a report on Friday, August 15th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Consolidated Edison has an average rating of “Hold” and an average price target of $105.82.

Consolidated Edison Stock Performance

ED opened at $97.54 on Friday. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week high of $114.87. The firm has a market capitalization of $35.18 billion, a PE ratio of 17.70, a PEG ratio of 2.72 and a beta of 0.28. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. The business’s 50-day simple moving average is $100.92 and its 200 day simple moving average is $103.90.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) 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 business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the prior year, the company posted $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, sell-side analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, August 13th. Consolidated Edison’s payout ratio is 61.71%.

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.