Rockline Wealth Management LLC Boosts Stock Position in Consolidated Edison Inc $ED

Rockline Wealth Management LLC raised its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 27.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 9,582 shares of the utilities provider’s stock after buying an additional 2,085 shares during the quarter. Rockline Wealth Management LLC’s holdings in Consolidated Edison were worth $962,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Consolidated Edison by 1.6% in the first 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Consolidated Edison by 1.0% during the 1st 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 purchasing an additional 48,323 shares during the last quarter. Deutsche Bank AG increased its stake in Consolidated Edison by 130.6% in the first quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider’s stock valued at $434,266,000 after purchasing an additional 2,223,959 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Consolidated Edison by 106.9% in the first quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider’s stock valued at $308,643,000 after buying an additional 1,441,785 shares during the last quarter. Finally, ATLAS Infrastructure Partners UK Ltd. purchased a new stake in shares of Consolidated Edison in the first quarter valued at about $254,205,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Price Performance

ED stock opened at $96.63 on Tuesday. Consolidated Edison Inc has a 12-month low of $87.28 and a 12-month high of $114.87. The company has a market cap of $34.85 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 2.70 and a beta of 0.32. The firm has a 50 day moving average of $98.88 and a 200-day moving average of $101.93. 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 (NYSE:ED) last posted its earnings results on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the previous year, the business 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 will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, November 19th. Consolidated Edison’s dividend payout ratio (DPR) is 61.71%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. KeyCorp raised their price target on Consolidated Edison from $88.00 to $90.00 and gave the stock an “underweight” rating in a report on Wednesday, October 15th. Mizuho lifted their target price on Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Evercore ISI began coverage on Consolidated Edison in a research note on Tuesday, October 7th. They set an “in-line” rating and a $106.00 price target for the company. New Street Research set a $106.00 price objective on shares of Consolidated Edison in a research report on Monday, October 6th. Finally, Barclays cut their price objective on shares of Consolidated Edison from $107.00 to $105.00 and set an “underweight” rating for the company in a research report on Tuesday, October 21st. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $105.08.

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.