Verity & Verity LLC Purchases 1,072 Shares of Consolidated Edison Inc $ED

Verity & Verity LLC raised its position in Consolidated Edison Inc (NYSE:ED) by 24.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,438 shares of the utilities provider’s stock after acquiring an additional 1,072 shares during the period. Verity & Verity LLC’s holdings in Consolidated Edison were worth $546,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Atlantic Union Bankshares Corp raised its stake in Consolidated Edison by 46.7% during the second quarter. Atlantic Union Bankshares Corp now owns 3,714 shares of the utilities provider’s stock worth $373,000 after acquiring an additional 1,183 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs bought a new stake in Consolidated Edison during the first quarter worth about $1,631,000. Texas Yale Capital Corp. increased its holdings in shares of Consolidated Edison by 41.8% during the second quarter. Texas Yale Capital Corp. now owns 16,627 shares of the utilities provider’s stock worth $1,669,000 after buying an additional 4,900 shares in the last quarter. Mediolanum International Funds Ltd raised its stake in shares of Consolidated Edison by 65.5% in the second quarter. Mediolanum International Funds Ltd now owns 14,502 shares of the utilities provider’s stock valued at $1,423,000 after acquiring an additional 5,742 shares during the last quarter. Finally, CENTRAL TRUST Co boosted its holdings in shares of Consolidated Edison by 18.8% in the 2nd quarter. CENTRAL TRUST Co now owns 6,960 shares of the utilities provider’s stock worth $698,000 after acquiring an additional 1,102 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

ED stock opened at $99.99 on Tuesday. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. The company has a market cap of $36.09 billion, a P/E ratio of 18.14, a price-to-earnings-growth ratio of 2.70 and a beta of 0.32. The business’s fifty day moving average is $99.44 and its 200-day moving average is $100.72.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.90 EPS for the quarter, beating 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 period 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. Equities research analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Wednesday, November 19th will be issued a dividend of $0.85 per share. The ex-dividend date is Wednesday, November 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.4%. Consolidated Edison’s payout ratio is currently 59.44%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ED. Scotiabank raised their price target on Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a report on Monday, August 11th. New Street Research set a $106.00 target price on Consolidated Edison in a report on Monday, October 6th. Mizuho raised their price objective on shares of Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Wells Fargo & Company raised Consolidated Edison to a “hold” rating in a report on Tuesday, October 28th. Finally, Barclays cut their price target on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a research note on Monday, November 10th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $104.58.

About Consolidated Edison

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.