Quent Capital LLC Increases Stock Position in Consolidated Edison Inc $ED

Quent Capital LLC lifted its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 26.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,058 shares of the utilities provider’s stock after buying an additional 640 shares during the quarter. Quent Capital LLC’s holdings in Consolidated Edison were worth $307,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Alpine Bank Wealth Management purchased a new stake in shares of Consolidated Edison during the 1st quarter valued at approximately $32,000. Fort Vancouver Investment Management LLC bought a new stake in Consolidated Edison during the 1st quarter worth approximately $33,000. Financial Network Wealth Advisors LLC bought a new stake in Consolidated Edison during the 1st quarter worth approximately $33,000. Cary Street Partners Investment Advisory LLC increased its holdings in Consolidated Edison by 64.9% during the 1st 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. bought a new stake in Consolidated Edison during the 1st quarter worth approximately $38,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Price Performance

ED stock opened at $98.83 on Friday. The firm has a market cap of $35.64 billion, a P/E ratio of 17.94, a P/E/G ratio of 2.75 and a beta of 0.32. 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 firm’s fifty day moving average is $99.95 and its 200 day moving average is $103.26. Consolidated Edison Inc has a 52 week low of $87.28 and a 52 week high of $114.87.

Consolidated Edison (NYSE:ED) last announced 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. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same quarter in the prior year, the company posted $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Research analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Wednesday, August 13th. Consolidated Edison’s dividend payout ratio (DPR) is currently 61.71%.

Wall Street Analysts Forecast Growth

ED has been the topic of a number of analyst reports. KeyCorp reaffirmed an “overweight” rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Morgan Stanley decreased their target price on shares of Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating on the stock in a report on Thursday, September 25th. Barclays upped their target price on shares of Consolidated Edison from $101.00 to $107.00 and gave the stock an “underweight” rating in a report on Wednesday, August 13th. Mizuho increased their price target 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. Finally, Bank of America lowered shares of Consolidated Edison from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $112.00 to $101.00 in a report on Friday, August 15th. Four 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $105.91.

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.