Consolidated Edison Inc $ED Stock Position Raised by Forsta AP Fonden

Forsta AP Fonden increased its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 6.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,000 shares of the utilities provider’s stock after acquiring an additional 4,900 shares during the quarter. Forsta AP Fonden’s holdings in Consolidated Edison were worth $7,627,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ED. 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 purchasing an additional 109 shares during the last quarter. Financial Network Wealth Advisors LLC bought a new position in Consolidated Edison during the 1st quarter worth $33,000. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Consolidated Edison by 64.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 120 shares during the period. 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 acquiring an additional 328 shares during the period. Finally, SJS Investment Consulting Inc. lifted its position in Consolidated Edison by 1,677.3% in the 2nd quarter. SJS Investment Consulting Inc. now owns 391 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 369 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

NYSE ED opened at $100.84 on Friday. 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 1 year low of $87.28 and a 1 year high of $114.87. The company has a market cap of $36.37 billion, a PE ratio of 18.30, a PEG ratio of 2.70 and a beta of 0.32. The stock’s 50-day moving average price is $98.90 and its two-hundred day moving average price is $101.33.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.14. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same quarter last year, the company earned $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Wednesday, November 19th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, November 19th. Consolidated Edison’s payout ratio is presently 59.44%.

Analysts Set New Price Targets

ED has been the subject of a number of analyst reports. Mizuho boosted their price target on Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Bank of America lowered shares of Consolidated Edison from a “buy” rating to an “underperform” rating and decreased their target price for the company from $112.00 to $101.00 in a research report on Friday, August 15th. New Street Research set a $106.00 target price on shares of Consolidated Edison in a research note on Monday, October 6th. Morgan Stanley boosted their price target on shares of Consolidated Edison from $93.00 to $100.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 22nd. Finally, KeyCorp boosted their target price on Consolidated Edison from $88.00 to $90.00 and gave the stock an “underweight” rating in a report on Wednesday, October 15th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $104.75.

Consolidated Edison 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.