LVW Advisors LLC Increases Stock Holdings in Consolidated Edison Inc $ED

LVW Advisors LLC increased its holdings in Consolidated Edison Inc (NYSE:ED) by 15.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,273 shares of the utilities provider’s stock after acquiring an additional 833 shares during the quarter. LVW Advisors LLC’s holdings in Consolidated Edison were worth $629,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ED. Alpine Bank Wealth Management purchased a new stake in Consolidated Edison in the first quarter worth $32,000. Fort Vancouver Investment Management LLC purchased a new stake in Consolidated Edison in the first quarter worth $33,000. Financial Network Wealth Advisors LLC purchased a new stake in Consolidated Edison in the first quarter worth $33,000. 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 worth $34,000 after acquiring an additional 120 shares during the period. Finally, Elite Financial Inc. purchased a new stake in Consolidated Edison in the first quarter worth $38,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on ED. Mizuho increased their price objective on Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Scotiabank increased their price objective on Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a report on Monday, August 11th. Bank of America downgraded Consolidated Edison from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $112.00 to $101.00 in a report on Friday, August 15th. 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. Finally, Barclays increased their price objective on Consolidated Edison from $101.00 to $107.00 and gave the stock an “underweight” rating in a report on Wednesday, August 13th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Consolidated Edison presently has an average rating of “Hold” and an average target price of $105.91.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $99.63 on Friday. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-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 business has a fifty day moving average price of $100.30 and a 200-day moving average price of $103.54. The company has a market capitalization of $35.93 billion, a PE ratio of 18.08, a PEG ratio of 2.77 and a beta of 0.28.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, beating 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 firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same period last year, the company earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, equities analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Wednesday, August 13th 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, August 13th. Consolidated Edison’s dividend payout ratio (DPR) is presently 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.