Robertson Stephens Wealth Management LLC Has $237,000 Stake in Consolidated Edison Inc $ED

Robertson Stephens Wealth Management LLC lowered its position in Consolidated Edison Inc (NYSE:ED) by 23.8% during the second quarter, Holdings Channel reports. The firm owned 2,361 shares of the utilities provider’s stock after selling 738 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Consolidated Edison were worth $237,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ED. Alpine Bank Wealth Management bought a new stake in shares of Consolidated Edison in the 1st quarter valued at $32,000. Capital Advisors Ltd. LLC increased its stake in shares of Consolidated Edison by 53.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 109 shares in the last quarter. Fort Vancouver Investment Management LLC bought a new stake in shares of Consolidated Edison in the 1st quarter valued at $33,000. Financial Network Wealth Advisors LLC bought a new stake in shares of Consolidated Edison in the 1st quarter valued at $33,000. Finally, Cary Street Partners Investment Advisory LLC increased its stake in shares of Consolidated Edison by 64.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 120 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of ED stock opened at $102.36 on Monday. The firm has a market capitalization of $36.92 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 2.85 and a beta of 0.32. The firm has a fifty day simple moving average of $99.73 and a two-hundred day simple moving average of $103.00. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.39 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same period in the previous year, the firm earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Wednesday, August 13th. Consolidated Edison’s payout ratio is currently 61.71%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Bank of America lowered shares of Consolidated Edison from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $112.00 to $101.00 in a research note on Friday, August 15th. New Street Research set a $106.00 price objective on shares of Consolidated Edison in a research note on Monday, October 6th. Morgan Stanley lowered their price objective on shares of Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating for the company in a research note on Thursday, September 25th. Scotiabank lifted their price objective on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a research note on Monday, August 11th. Finally, Barclays boosted their price target on shares of Consolidated Edison from $101.00 to $107.00 and gave the company an “underweight” rating in a research note on Wednesday, August 13th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $105.75.

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.