Smartleaf Asset Management LLC Has $124,000 Stock Holdings in Consolidated Edison Inc $ED

Smartleaf Asset Management LLC trimmed its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 11.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,137 shares of the utilities provider’s stock after selling 148 shares during the period. Smartleaf Asset Management LLC’s holdings in Consolidated Edison were worth $124,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Merit Financial Group LLC boosted its stake in shares of Consolidated Edison by 16.8% during the 1st quarter. Merit Financial Group LLC now owns 10,666 shares of the utilities provider’s stock worth $1,180,000 after buying an additional 1,533 shares during the last quarter. Ritholtz Wealth Management acquired a new stake in Consolidated Edison in the 1st quarter valued at about $227,000. Wealth Enhancement Advisory Services LLC lifted its stake in Consolidated Edison by 2.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 250,014 shares of the utilities provider’s stock valued at $27,649,000 after purchasing an additional 6,869 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Consolidated Edison in the 1st quarter valued at about $217,000. Finally, GAMMA Investing LLC lifted its stake in Consolidated Edison by 45.0% in the 1st quarter. GAMMA Investing LLC now owns 9,242 shares of the utilities provider’s stock valued at $1,022,000 after purchasing an additional 2,869 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ED has been the subject of several recent analyst reports. Mizuho raised their target price on shares of Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Scotiabank raised their target price on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a research note on Monday, August 11th. Morgan Stanley reiterated an “underweight” rating on shares of Consolidated Edison in a research note on Thursday, August 21st. Wells Fargo & Company raised their target price on shares of Consolidated Edison from $103.00 to $114.00 and gave the company an “equal weight” rating in a research note on Friday, May 2nd. Finally, Barclays increased their price target on shares of Consolidated Edison from $101.00 to $107.00 and gave the company an “underweight” rating in a report on Wednesday, August 13th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $105.82.

Consolidated Edison Stock Up 0.3%

Shares of ED opened at $100.04 on Thursday. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87. The firm’s 50 day moving average is $101.46 and its 200-day moving average is $103.79. The stock has a market capitalization of $36.08 billion, a PE ratio of 18.16, a P/E/G ratio of 2.77 and a beta of 0.24. 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 announced its earnings results on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same period last year, the firm earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities research analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $3.40 annualized dividend and a dividend yield of 3.4%. Consolidated Edison’s dividend payout ratio (DPR) is currently 61.71%.

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.