Crowley Wealth Management Inc. Sells 400 Shares of Consolidated Edison Inc $ED

Crowley Wealth Management Inc. decreased its position in shares of Consolidated Edison Inc (NYSE:ED) by 5.9% during the 2nd quarter, Holdings Channel reports. The fund owned 6,354 shares of the utilities provider’s stock after selling 400 shares during the quarter. Crowley Wealth Management Inc.’s holdings in Consolidated Edison were worth $638,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC boosted its position in shares of Consolidated Edison by 1.0% during the second quarter. Exchange Traded Concepts LLC now owns 11,050 shares of the utilities provider’s stock worth $1,109,000 after purchasing an additional 109 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Consolidated Edison by 1.3% during the second quarter. Farther Finance Advisors LLC now owns 8,896 shares of the utilities provider’s stock worth $893,000 after acquiring an additional 110 shares in the last quarter. Western Wealth Management LLC grew its position in shares of Consolidated Edison by 0.7% in the 1st quarter. Western Wealth Management LLC now owns 16,101 shares of the utilities provider’s stock valued at $1,781,000 after purchasing an additional 116 shares during the period. Eastern Bank raised its holdings in Consolidated Edison by 2.9% during the 1st quarter. Eastern Bank now owns 4,294 shares of the utilities provider’s stock worth $475,000 after buying an additional 120 shares during the period. Finally, Cary Street Partners Investment Advisory LLC lifted its stake in 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 buying an additional 120 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ED. Bank of America lowered shares of Consolidated Edison from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $112.00 to $101.00 in a report on Friday, August 15th. 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 decreased their price objective on Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating for the company in a report on Thursday. KeyCorp reiterated an “overweight” rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Finally, Mizuho boosted their target price on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. 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 stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $105.91.

Consolidated Edison Stock Performance

Shares of NYSE ED opened at $98.34 on Friday. Consolidated Edison Inc has a one year low of $87.28 and a one year high of $114.87. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01. The firm has a market cap of $35.46 billion, a price-to-earnings ratio of 17.85, a P/E/G ratio of 2.75 and a beta of 0.28. The stock’s fifty day moving average price is $100.33 and its two-hundred day moving average price is $103.56.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period 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. On average, equities analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

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

Consolidated Edison Company 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.