Wealth Enhancement Advisory Services LLC Purchases 19,381 Shares of Consolidated Edison Inc $ED

Wealth Enhancement Advisory Services LLC raised its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 7.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 295,838 shares of the utilities provider’s stock after acquiring an additional 19,381 shares during the period. Wealth Enhancement Advisory Services LLC owned about 0.08% of Consolidated Edison worth $29,596,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Salomon & Ludwin LLC increased its stake in shares of Consolidated Edison by 270.4% in the third quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock worth $30,000 after buying an additional 219 shares during the period. Capital Advisors Ltd. LLC grew its position in shares of Consolidated Edison by 53.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock worth $32,000 after buying an additional 109 shares during the last quarter. Bogart Wealth LLC lifted its position 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 during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Consolidated Edison during the third quarter valued at about $38,000. Finally, SJS Investment Consulting Inc. raised its stake in Consolidated Edison by 1,677.3% in the second quarter. SJS Investment Consulting Inc. now owns 391 shares of the utilities provider’s stock worth $39,000 after buying an additional 369 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ED shares. Barclays dropped their price target on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a research report on Monday, November 10th. KeyCorp dropped their target price on shares of Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating on the stock in a report on Friday, December 12th. TD Cowen initiated coverage on shares of Consolidated Edison in a research note on Friday, January 9th. They issued a “hold” rating and a $105.00 price target for the company. Evercore ISI began coverage on shares of Consolidated Edison in a research report on Tuesday, October 7th. They set an “in-line” rating and a $106.00 price target for the company. Finally, UBS Group upped their price objective on shares of Consolidated Edison from $104.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $103.27.

Insider Buying and Selling at Consolidated Edison

In related news, Director John F. Killian sold 2,276 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $96.89, for a total transaction of $220,521.64. Following the completion of the sale, the director directly owned 38,661 shares in the company, valued at approximately $3,745,864.29. The trade was a 5.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.17% of the stock is owned by company insiders.

Consolidated Edison Stock Up 1.2%

Shares of Consolidated Edison stock opened at $105.07 on Wednesday. Consolidated Edison Inc has a twelve month low of $90.35 and a twelve month high of $114.87. The company has a quick ratio of 0.97, a current ratio of 1.08 and a debt-to-equity ratio of 1.03. The company’s 50 day moving average is $99.50 and its 200 day moving average is $99.87. The company has a market cap of $37.92 billion, a price-to-earnings ratio of 18.37, a price-to-earnings-growth ratio of 2.83 and a beta of 0.39.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.14. The business had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.22 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.79%. During the same period in the previous year, the business earned $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Research analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current year.

About Consolidated Edison

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.