Savant Capital LLC Boosts Holdings in Consolidated Edison Inc $ED

Savant Capital LLC boosted its position in shares of Consolidated Edison Inc (NYSE:ED) by 18.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 12,493 shares of the utilities provider’s stock after purchasing an additional 1,990 shares during the quarter. Savant Capital LLC’s holdings in Consolidated Edison were worth $1,254,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Capital Advisors Ltd. LLC grew its holdings in shares of Consolidated Edison by 53.2% during the second quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock valued at $32,000 after buying an additional 109 shares during the last quarter. Financial Network Wealth Advisors LLC bought a new position in Consolidated Edison in the 1st quarter valued at approximately $33,000. Cary Street Partners Investment Advisory LLC boosted its stake in 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 valued at $34,000 after purchasing an additional 120 shares during the last quarter. Bogart Wealth LLC increased its holdings in shares of Consolidated Edison by 886.5% in the 2nd quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 328 shares in the last quarter. Finally, SJS Investment Consulting Inc. increased its holdings in shares of Consolidated Edison by 1,677.3% in the 2nd quarter. SJS Investment Consulting Inc. now owns 391 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 369 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ED has been the topic of a number of research analyst reports. Morgan Stanley upped their price target on Consolidated Edison from $93.00 to $100.00 and gave the company an “underweight” rating in a report on Wednesday, October 22nd. Evercore ISI assumed coverage on shares of Consolidated Edison in a report on Tuesday, October 7th. They set an “in-line” rating and a $106.00 price target on the stock. Scotiabank lifted their price target on shares of Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research note on Monday, August 11th. Mizuho boosted their price objective on shares of Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Finally, Bank of America downgraded shares of Consolidated Edison from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $112.00 to $101.00 in a research report on Friday, August 15th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, Consolidated Edison has an average rating of “Reduce” and a consensus target price of $104.75.

Consolidated Edison Stock Up 0.6%

Shares of ED stock opened at $100.23 on Thursday. 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 Inc has a 12 month low of $87.28 and a 12 month high of $114.87. The stock has a market cap of $36.15 billion, a P/E ratio of 18.19, a P/E/G ratio of 2.70 and a beta of 0.32. The company has a 50 day simple moving average of $98.84 and a two-hundred day simple moving average of $101.34.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.76 by $0.14. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.The firm had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same period in the prior year, the business posted $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, research analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently disclosed 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 of this dividend is Wednesday, November 19th. Consolidated Edison’s payout ratio is presently 59.44%.

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.