Consolidated Edison Inc $ED Shares Purchased by AE Wealth Management LLC

AE Wealth Management LLC raised its stake in shares of Consolidated Edison Inc (NYSE:ED) by 55.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,415 shares of the utilities provider’s stock after acquiring an additional 5,118 shares during the quarter. AE Wealth Management LLC’s holdings in Consolidated Edison were worth $1,449,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Consolidated Edison by 3.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,028,686 shares of the utilities provider’s stock worth $103,404,000 after buying an additional 29,606 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Consolidated Edison by 13.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,819 shares of the utilities provider’s stock valued at $7,320,000 after acquiring an additional 8,562 shares in the last quarter. Atlantic Union Bankshares Corp raised its stake in Consolidated Edison by 46.7% during the 2nd quarter. Atlantic Union Bankshares Corp now owns 3,714 shares of the utilities provider’s stock valued at $373,000 after acquiring an additional 1,183 shares in the last quarter. ATLAS Infrastructure Partners UK Ltd. boosted its position in Consolidated Edison by 4.8% during the 2nd quarter. ATLAS Infrastructure Partners UK Ltd. now owns 2,409,288 shares of the utilities provider’s stock worth $241,772,000 after acquiring an additional 110,666 shares during the period. Finally, CWM LLC grew its stake in shares of Consolidated Edison by 12.6% in the third quarter. CWM LLC now owns 255,577 shares of the utilities provider’s stock worth $25,691,000 after purchasing an additional 28,606 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Down 1.2%

ED stock opened at $105.38 on Tuesday. The firm has a market cap of $38.04 billion, a PE ratio of 18.42, a P/E/G ratio of 2.91 and a beta of 0.38. Consolidated Edison Inc has a 12 month low of $93.52 and a 12 month high of $114.87. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.08 and a quick ratio of 0.97. The firm has a 50 day simple moving average of $100.19 and a 200 day simple moving average of $100.15.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.14. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.27%.The company had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter in the prior year, the company 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 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Wednesday, February 18th will be issued a dividend of $0.8875 per share. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.85. This represents a $3.55 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, February 18th. Consolidated Edison’s dividend payout ratio (DPR) is currently 59.44%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ED shares. Royal Bank Of Canada restated a “sector perform” rating and set a $118.00 price objective on shares of Consolidated Edison in a research note on Friday, January 23rd. JPMorgan Chase & Co. dropped their price target on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating on the stock in a research report on Friday, December 12th. TD Cowen initiated coverage on shares of Consolidated Edison in a report on Friday, January 9th. They issued a “hold” rating and a $105.00 price objective for the company. KeyCorp lowered their price objective on shares of Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating on the stock in a research note on Friday, December 12th. Finally, UBS Group upped their target price on Consolidated Edison from $108.00 to $112.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $104.20.

Insider Buying and Selling at Consolidated Edison

In related news, Director John F. Killian sold 2,276 shares of Consolidated Edison stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $96.89, for a total value of $220,521.64. Following the transaction, the director owned 38,661 shares of the company’s stock, valued at approximately $3,745,864.29. This trade represents a 5.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.17% of the stock is owned by company insiders.

About Consolidated Edison

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.