AE Wealth Management LLC Has $1.45 Million Position in Consolidated Edison Inc $ED

AE Wealth Management LLC lifted its holdings in Consolidated Edison Inc (NYSE:ED) by 55.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,415 shares of the utilities provider’s stock after buying an additional 5,118 shares during the period. AE Wealth Management LLC’s holdings in Consolidated Edison were worth $1,449,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Consolidated Edison by 3.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,028,686 shares of the utilities provider’s stock worth $103,404,000 after purchasing an additional 29,606 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Consolidated Edison by 13.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,819 shares of the utilities provider’s stock valued at $7,320,000 after purchasing an additional 8,562 shares in the last quarter. Atlantic Union Bankshares Corp increased its stake in Consolidated Edison by 46.7% in the 2nd quarter. Atlantic Union Bankshares Corp now owns 3,714 shares of the utilities provider’s stock valued at $373,000 after buying an additional 1,183 shares during the period. ATLAS Infrastructure Partners UK Ltd. lifted its position in Consolidated Edison by 4.8% in the 2nd quarter. ATLAS Infrastructure Partners UK Ltd. now owns 2,409,288 shares of the utilities provider’s stock worth $241,772,000 after buying an additional 110,666 shares in the last quarter. Finally, CWM LLC lifted its position in Consolidated Edison by 12.6% in the 3rd quarter. CWM LLC now owns 255,577 shares of the utilities provider’s stock worth $25,691,000 after buying an additional 28,606 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of the business’s stock in a transaction 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 transaction, the director owned 38,661 shares of the company’s stock, valued at $3,745,864.29. The trade was a 5.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ED has been the topic of a number of research reports. Wells Fargo & Company dropped their price target on shares of Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 20th. TD Cowen assumed coverage on Consolidated Edison in a research note on Friday, January 9th. They issued a “hold” rating and a $105.00 target price on the stock. KeyCorp cut their price target on Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating for the company in a research note on Friday, December 12th. Morgan Stanley reiterated an “underweight” rating and set a $96.00 price target on shares of Consolidated Edison in a report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. dropped their price objective on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating on the stock in a report on Friday, December 12th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Consolidated Edison has an average rating of “Reduce” and an average price target of $104.20.

Consolidated Edison Stock Down 1.2%

Shares of ED stock opened at $105.38 on Tuesday. The stock’s 50 day simple moving average is $100.19 and its 200 day simple moving average is $100.15. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.97 and a current ratio of 1.08. Consolidated Edison Inc has a twelve month low of $93.52 and a twelve month high of $114.87. The company has a market capitalization of $38.04 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 2.91 and a beta of 0.38.

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

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Wednesday, February 18th will be paid a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Wednesday, February 18th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.85. Consolidated Edison’s dividend payout ratio (DPR) is 59.44%.

Consolidated Edison Company Profile

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.