Venture Visionary Partners LLC Has $551,000 Stock Holdings in Consolidated Edison Inc $ED

Venture Visionary Partners LLC trimmed its position in shares of Consolidated Edison Inc (NYSE:ED) by 4.3% during the second quarter, HoldingsChannel.com reports. The firm owned 5,494 shares of the utilities provider’s stock after selling 247 shares during the period. Venture Visionary Partners LLC’s holdings in Consolidated Edison were worth $551,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Alpine Bank Wealth Management acquired a new stake in shares of Consolidated Edison during the first quarter valued at about $32,000. Fort Vancouver Investment Management LLC acquired a new position in shares of Consolidated Edison in the first quarter worth approximately $33,000. Financial Network Wealth Advisors LLC acquired a new position in shares of Consolidated Edison in the first quarter worth approximately $33,000. Cary Street Partners Investment Advisory LLC lifted its stake 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 worth $34,000 after acquiring an additional 120 shares during the period. Finally, Elite Financial Inc. acquired a new position in shares of Consolidated Edison in the first quarter worth approximately $38,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

Shares of ED stock opened at $98.16 on Thursday. The company has a market cap of $35.40 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 2.79 and a beta of 0.32. Consolidated Edison Inc has a 52 week low of $87.28 and a 52 week high of $114.87. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. The firm has a 50 day moving average of $100.10 and a 200-day moving average of $103.43.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (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 during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter last year, the firm posted $0.59 EPS. 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 earnings per share for the current year.

Consolidated Edison Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on ED. KeyCorp reaffirmed an “overweight” rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Bank of America lowered Consolidated Edison from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $112.00 to $101.00 in a research note on Friday, August 15th. Mizuho lifted their price objective on Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Barclays lifted their price objective on Consolidated Edison from $101.00 to $107.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 13th. Finally, Scotiabank increased their price target on Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a report on Monday, August 11th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $105.91.

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.