MBB Public Markets I LLC Makes New $328,000 Investment in Consolidated Edison Inc $ED

MBB Public Markets I LLC bought a new stake in shares of Consolidated Edison Inc (NYSE:ED) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,962 shares of the utilities provider’s stock, valued at approximately $328,000.

Several other institutional investors and hedge funds have also modified their holdings of ED. Alpine Bank Wealth Management purchased a new stake in shares of Consolidated Edison during the first quarter worth $32,000. Fort Vancouver Investment Management LLC acquired a new position in Consolidated Edison in the 1st quarter worth about $33,000. Financial Network Wealth Advisors LLC purchased a new stake in shares of Consolidated Edison during the 1st quarter worth about $33,000. Cary Street Partners Investment Advisory LLC raised 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 purchasing an additional 120 shares in the last quarter. Finally, Wood Tarver Financial Group LLC acquired a new stake in shares of Consolidated Edison during the 4th quarter valued at about $35,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Stock Performance

NYSE:ED opened at $96.64 on Tuesday. The firm has a market capitalization of $34.85 billion, a PE ratio of 17.54, a PEG ratio of 2.72 and a beta of 0.28. Consolidated Edison Inc has a 1 year low of $87.28 and a 1 year high of $114.87. 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 firm’s fifty day simple moving average is $101.15 and its 200 day simple moving average is $104.01.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.39 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same quarter in the previous year, the business earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, sell-side analysts anticipate 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. Investors of record on Wednesday, August 13th will be paid a dividend of $0.85 per share. The ex-dividend date is Wednesday, August 13th. This represents a $3.40 annualized dividend and a yield of 3.5%. Consolidated Edison’s dividend payout ratio is presently 61.71%.

Analyst Ratings Changes

Several brokerages recently weighed in on ED. Barclays raised their price objective on shares of Consolidated Edison from $101.00 to $107.00 and gave the company an “underweight” rating in a research report on Wednesday, August 13th. Bank of America cut shares of Consolidated Edison from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $112.00 to $101.00 in a report on Friday, August 15th. Mizuho increased their target price on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Scotiabank boosted their price target on Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Monday, August 11th. Finally, KeyCorp reiterated an “overweight” rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $105.82.

Consolidated Edison Company 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.