RD Lewis Holdings Inc. Acquires 1,065 Shares of Consolidated Edison Inc $ED

RD Lewis Holdings Inc. increased its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 6.9% during the second quarter, Holdings Channel reports. The fund owned 16,498 shares of the utilities provider’s stock after acquiring an additional 1,065 shares during the quarter. Consolidated Edison comprises about 1.7% of RD Lewis Holdings Inc.’s holdings, making the stock its 23rd biggest holding. RD Lewis Holdings Inc.’s holdings in Consolidated Edison were worth $1,732,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Capital Advisors Ltd. LLC boosted its position in Consolidated Edison by 53.2% during the second quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 109 shares during the period. Financial Network Wealth Advisors LLC acquired a new stake in shares of Consolidated Edison during the 1st quarter worth about $33,000. Cary Street Partners Investment Advisory LLC lifted its stake in shares of 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 buying an additional 120 shares during the last quarter. Bogart Wealth LLC boosted its holdings in shares of Consolidated Edison by 886.5% during the 2nd quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock worth $37,000 after buying an additional 328 shares during the period. Finally, SJS Investment Consulting Inc. grew its stake in Consolidated Edison by 1,677.3% in the 2nd quarter. SJS Investment Consulting Inc. now owns 391 shares of the utilities provider’s stock valued at $39,000 after buying an additional 369 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Down 1.1%

NYSE ED opened at $99.86 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The company has a market cap of $36.04 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 2.70 and a beta of 0.32. The company has a 50 day moving average of $99.41 and a 200-day moving average of $100.92. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year high of $114.87.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.14. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.During the same quarter in the prior year, the company earned $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, equities research analysts expect that Consolidated Edison Inc will post 5.62 earnings per share 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 dividend on an annualized basis and a dividend yield of 3.4%. Consolidated Edison’s dividend payout ratio (DPR) is presently 59.44%.

Analyst Upgrades and Downgrades

ED has been the subject of several research reports. Scotiabank raised their price objective on shares of Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Monday, August 11th. Evercore ISI assumed coverage on Consolidated Edison in a research note on Tuesday, October 7th. They set an “in-line” rating and a $106.00 target price on the stock. Mizuho lifted their price target on 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 note on Monday. Finally, KeyCorp upped their price objective on Consolidated Edison from $88.00 to $90.00 and gave the company an “underweight” rating in a report on Wednesday, October 15th. Three 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. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $104.58.

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.