2,430 Shares in Consolidated Edison Inc $ED Acquired by Morningstar Investment Management LLC

Morningstar Investment Management LLC bought a new position in Consolidated Edison Inc (NYSE:ED) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,430 shares of the utilities provider’s stock, valued at approximately $244,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new position in Consolidated Edison in the first quarter worth approximately $32,000. Capital Advisors Ltd. LLC raised its position in Consolidated Edison by 53.2% in the second quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 109 shares during the period. Fort Vancouver Investment Management LLC bought a new position in Consolidated Edison in the first quarter worth approximately $33,000. Financial Network Wealth Advisors LLC bought a new position in Consolidated Edison in the first quarter worth approximately $33,000. Finally, Cary Street Partners Investment Advisory LLC raised its position in Consolidated Edison by 64.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 120 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ED. KeyCorp reiterated an “overweight” rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. New Street Research set a $106.00 price objective on shares of Consolidated Edison in a research report on Monday, October 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a research report on Wednesday, October 8th. 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. Finally, Scotiabank raised their price objective on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a research report on Monday, August 11th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $105.75.

Consolidated Edison Stock Performance

ED opened at $101.95 on Wednesday. The stock has a market capitalization of $36.77 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 2.80 and a beta of 0.32. The company has a fifty day moving average of $99.60 and a 200 day moving average of $102.94. Consolidated Edison Inc has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same period last year, the company posted $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, sell-side analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Wednesday, August 13th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Wednesday, August 13th. Consolidated Edison’s dividend payout ratio (DPR) is presently 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.