Consolidated Edison Inc $ED Holdings Cut by Birmingham Capital Management Co. Inc. AL

Birmingham Capital Management Co. Inc. AL lowered its holdings in Consolidated Edison Inc (NYSE:ED) by 16.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,100 shares of the utilities provider’s stock after selling 820 shares during the period. Birmingham Capital Management Co. Inc. AL’s holdings in Consolidated Edison were worth $411,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Alpine Bank Wealth Management acquired a new stake in shares of Consolidated Edison in the first quarter valued at approximately $32,000. Capital Advisors Ltd. LLC increased its stake in shares of Consolidated Edison by 53.2% in 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 period. Fort Vancouver Investment Management LLC acquired a new stake in shares of Consolidated Edison in the first quarter valued at approximately $33,000. Financial Network Wealth Advisors LLC acquired a new stake in shares of Consolidated Edison in the first quarter valued at approximately $33,000. Finally, Cary Street Partners Investment Advisory LLC increased its stake in shares of Consolidated Edison by 64.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ED. New Street Research set a $106.00 price target on shares of Consolidated Edison in a research note on Monday, October 6th. KeyCorp raised their price objective on shares of Consolidated Edison from $88.00 to $90.00 and gave the company an “underweight” rating in a research note on Wednesday. Scotiabank raised their price objective on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a research note on Monday, August 11th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a research note on Wednesday, October 8th. Finally, Morgan Stanley lowered their price objective on shares of Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating on the stock in a research note on Thursday, September 25th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $105.92.

Consolidated Edison Trading Up 0.1%

Consolidated Edison stock opened at $101.14 on Monday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. The firm has a market cap of $36.48 billion, a price-to-earnings ratio of 18.36, a price-to-earnings-growth ratio of 2.82 and a beta of 0.32. Consolidated Edison Inc has a 1 year low of $87.28 and a 1 year high of $114.87. The firm’s 50 day moving average price is $99.41 and its two-hundred day moving average price is $102.69.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.39 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same quarter in the previous year, the business posted $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, research analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th will be given a $0.85 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $3.40 annualized dividend and a yield of 3.4%. Consolidated Edison’s payout ratio is 61.71%.

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.