Cobblestone Capital Advisors LLC NY Has $505,000 Position in Consolidated Edison Inc $ED

Cobblestone Capital Advisors LLC NY lowered its stake in Consolidated Edison Inc (NYSE:ED) by 11.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 5,032 shares of the utilities provider’s stock after selling 628 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Consolidated Edison were worth $505,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. First Command Advisory Services Inc. grew its stake in Consolidated Edison by 441.8% in the 2nd quarter. First Command Advisory Services Inc. now owns 596 shares of the utilities provider’s stock valued at $60,000 after buying an additional 486 shares during the last quarter. Banco Santander S.A. acquired a new position in shares of Consolidated Edison in the second quarter valued at approximately $7,377,000. Resonant Capital Advisors LLC acquired a new position in Consolidated Edison in the 2nd quarter valued at $208,000. Brighton Jones LLC grew its holdings in Consolidated Edison by 19.2% in the 2nd quarter. Brighton Jones LLC now owns 3,511 shares of the utilities provider’s stock valued at $352,000 after buying an additional 566 shares in the last quarter. Finally, MQS Management LLC acquired a new position in Consolidated Edison in the 2nd quarter valued at $768,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of ED stock opened at $100.23 on Tuesday. The business’s 50-day moving average price is $99.24 and its 200-day moving average price is $102.46. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87. The firm has a market capitalization of $36.15 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 2.78 and a beta of 0.32. 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 (NYSE:ED) last posted its earnings results on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period last year, the company earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities research analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th will be issued 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 3.4%. Consolidated Edison’s payout ratio is presently 61.71%.

Analyst Upgrades and Downgrades

ED has been the topic of a number of analyst reports. New Street Research set a $106.00 price target on Consolidated Edison in a research report on Monday, October 6th. Wells Fargo & Company initiated coverage on Consolidated Edison in a report on Monday. They set an “overweight” rating and a $99.00 target price on the stock. Scotiabank increased their target price on Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a report on Monday, August 11th. Bank of America lowered Consolidated Edison from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $112.00 to $101.00 in a report on Friday, August 15th. Finally, Morgan Stanley increased their price objective on shares of Consolidated Edison from $93.00 to $100.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 22nd. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $105.08.

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.