Bogart Wealth LLC Purchases 328 Shares of Consolidated Edison Inc $ED

Bogart Wealth LLC raised its position in shares of Consolidated Edison Inc (NYSE:ED) by 886.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 365 shares of the utilities provider’s stock after purchasing an additional 328 shares during the period. Bogart Wealth LLC’s holdings in Consolidated Edison were worth $37,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Consolidated Edison by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 43,117,094 shares of the utilities provider’s stock valued at $4,768,319,000 after buying an additional 661,432 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Consolidated Edison by 1.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,868,772 shares of the utilities provider’s stock worth $538,437,000 after buying an additional 48,323 shares in the last quarter. Deutsche Bank AG grew its position in Consolidated Edison by 130.6% during the first quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider’s stock valued at $434,266,000 after acquiring an additional 2,223,959 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Consolidated Edison by 106.9% during the first quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider’s stock worth $308,643,000 after acquiring an additional 1,441,785 shares in the last quarter. Finally, ATLAS Infrastructure Partners UK Ltd. purchased a new position in shares of Consolidated Edison during the first quarter worth approximately $254,205,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Trading Down 0.2%

ED opened at $101.49 on Wednesday. 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 business has a 50 day simple moving average of $99.32 and a two-hundred day simple moving average of $102.63. The firm has a market capitalization of $36.60 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 2.83 and a beta of 0.32.

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

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th will be issued a $0.85 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $3.40 annualized dividend and a yield of 3.4%. Consolidated Edison’s dividend payout ratio is 61.71%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Mizuho increased their target price on shares of Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a report on Friday, August 8th. New Street Research set a $106.00 price target on shares of Consolidated Edison in a research report on Monday, October 6th. Bank of America cut Consolidated Edison from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $112.00 to $101.00 in a research note on Friday, August 15th. Scotiabank boosted their target price on 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, Evercore ISI started coverage on Consolidated Edison in a report on Tuesday, October 7th. They set an “in-line” rating and a $106.00 target price for the company. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, Consolidated Edison currently has an average rating of “Reduce” and an average target price of $105.75.

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.