Citizens Financial Group Inc. RI Grows Position in Consolidated Edison Inc $ED

Citizens Financial Group Inc. RI boosted its position in Consolidated Edison Inc (NYSE:ED) by 53.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,007 shares of the utilities provider’s stock after acquiring an additional 5,603 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Consolidated Edison were worth $1,606,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. raised its holdings in shares of Consolidated Edison by 4.8% in the 2nd quarter. Avantax Advisory Services Inc. now owns 24,045 shares of the utilities provider’s stock valued at $2,413,000 after purchasing an additional 1,095 shares in the last quarter. Woodley Farra Manion Portfolio Management Inc. increased its holdings in Consolidated Edison by 1.0% in the second quarter. Woodley Farra Manion Portfolio Management Inc. now owns 55,206 shares of the utilities provider’s stock valued at $5,540,000 after buying an additional 558 shares during the last quarter. Cetera Investment Advisers raised its stake in Consolidated Edison by 3.7% in the second quarter. Cetera Investment Advisers now owns 97,050 shares of the utilities provider’s stock valued at $9,739,000 after buying an additional 3,494 shares in the last quarter. Flaharty Asset Management LLC lifted its holdings in Consolidated Edison by 1,993.5% during the 2nd quarter. Flaharty Asset Management LLC now owns 11,661 shares of the utilities provider’s stock worth $1,170,000 after buying an additional 11,104 shares during the last quarter. Finally, Creative Planning boosted its position in shares of Consolidated Edison by 12.2% during the 2nd quarter. Creative Planning now owns 121,394 shares of the utilities provider’s stock worth $12,182,000 after acquiring an additional 13,174 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

ED has been the topic of several research analyst reports. Morgan Stanley raised their target price on Consolidated Edison from $93.00 to $100.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 22nd. Barclays lowered their price target on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a report on Monday, November 10th. Weiss Ratings reissued a “buy (b-)” rating on shares of Consolidated Edison in a report on Tuesday, November 11th. New Street Research set a $106.00 target price on shares of Consolidated Edison in a report on Monday, October 6th. Finally, Mizuho increased their target price on shares of Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Three investment 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 MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $104.75.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $103.90 on Tuesday. The firm’s fifty day simple moving average is $99.11 and its 200-day simple moving average is $101.05. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87. The stock has a market capitalization of $37.50 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 2.70 and a beta of 0.32. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the prior year, the company posted $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. As a group, equities analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $3.40 annualized dividend and a yield of 3.3%. Consolidated Edison’s dividend payout ratio is currently 59.44%.

Consolidated Edison Company 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.