Avidian Wealth Enterprises LLC Has $824,000 Holdings in Consolidated Edison Inc $ED

Avidian Wealth Enterprises LLC increased its position in shares of Consolidated Edison Inc (NYSE:ED) by 1.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,216 shares of the utilities provider’s stock after purchasing an additional 119 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Consolidated Edison were worth $824,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ED. Bogart Wealth LLC boosted its stake in Consolidated Edison by 886.5% during the second quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock worth $37,000 after buying an additional 328 shares in the last quarter. Drive Wealth Management LLC acquired a new position in shares of Consolidated Edison in the 2nd quarter valued at $241,000. Princeton Global Asset Management LLC raised its stake in shares of Consolidated Edison by 9.0% in the 2nd quarter. Princeton Global Asset Management LLC now owns 3,457 shares of the utilities provider’s stock valued at $347,000 after buying an additional 286 shares in the last quarter. Balboa Wealth Partners lifted its holdings in shares of Consolidated Edison by 54.3% during the 2nd quarter. Balboa Wealth Partners now owns 3,528 shares of the utilities provider’s stock worth $354,000 after acquiring an additional 1,242 shares during the period. Finally, Calamos Wealth Management LLC acquired a new stake in shares of Consolidated Edison during the 2nd quarter valued at about $551,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Performance

Shares of NYSE:ED opened at $101.49 on Wednesday. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87. The firm has a market cap of $36.60 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 2.83 and a beta of 0.32. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. The business has a fifty day moving average of $99.32 and a 200-day moving average of $102.63.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (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 business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the prior year, the company earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, equities research analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Wednesday, November 19th. Consolidated Edison’s dividend payout ratio is presently 61.71%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Mizuho increased their price target 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. Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a research note on Wednesday, October 8th. Evercore ISI began coverage on Consolidated Edison in a report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 target price for the company. Bank of America lowered Consolidated Edison from a “buy” rating to an “underperform” rating and decreased their price target for the company from $112.00 to $101.00 in a research note on Friday, August 15th. Finally, KeyCorp upped their price target on Consolidated Edison from $88.00 to $90.00 and gave the company an “underweight” rating in a research report on Wednesday, October 15th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, Consolidated Edison has an average rating of “Reduce” and a consensus price target of $105.75.

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.