CENTRAL TRUST Co Acquires 1,102 Shares of Consolidated Edison Inc $ED

CENTRAL TRUST Co lifted its stake in Consolidated Edison Inc (NYSE:ED) by 18.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 6,960 shares of the utilities provider’s stock after acquiring an additional 1,102 shares during the period. CENTRAL TRUST Co’s holdings in Consolidated Edison were worth $698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Capital Advisors Ltd. LLC increased its position in Consolidated Edison by 53.2% in the second quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock worth $32,000 after buying an additional 109 shares in the last quarter. Financial Network Wealth Advisors LLC purchased a new position in Consolidated Edison during the first quarter valued at approximately $33,000. Cary Street Partners Investment Advisory LLC boosted its position 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 purchasing an additional 120 shares during the period. Bogart Wealth LLC increased its stake in shares of Consolidated Edison by 886.5% in the second quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 328 shares in the last quarter. Finally, SJS Investment Consulting Inc. increased its stake in shares of Consolidated Edison by 1,677.3% in the second quarter. SJS Investment Consulting Inc. now owns 391 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 369 shares in the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ED. Mizuho upped their target price 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. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a research report on Tuesday. Bank of America cut Consolidated Edison from a “buy” rating to an “underperform” rating and cut their target price for the stock from $112.00 to $101.00 in a research report on Friday, August 15th. Barclays decreased their target price on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a research note on Monday. Finally, New Street Research set a $106.00 price target on Consolidated Edison in a research note on Monday, October 6th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, Consolidated Edison has an average rating of “Reduce” and an average target price of $104.75.

Consolidated Edison Stock Up 0.6%

NYSE ED opened at $100.23 on Thursday. The stock has a 50 day moving average price of $98.84 and a 200-day moving average price of $101.34. 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 quick ratio of 1.01 and a current ratio of 1.10. The company has a market capitalization of $36.15 billion, a P/E ratio of 18.19, a P/E/G ratio of 2.70 and a beta of 0.32.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.14. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. The company had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter in the prior year, the firm earned $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. As a group, equities analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Wednesday, November 19th will be given 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 (DPR) is currently 59.44%.

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.