D.A. Davidson & CO. Has $1.78 Million Stock Holdings in Consolidated Edison Inc $ED

D.A. Davidson & CO. raised its holdings in Consolidated Edison Inc (NYSE:ED) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,702 shares of the utilities provider’s stock after buying an additional 407 shares during the period. D.A. Davidson & CO.’s holdings in Consolidated Edison were worth $1,776,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Klingman & Associates LLC lifted its stake in shares of Consolidated Edison by 3.4% in the second quarter. Klingman & Associates LLC now owns 4,131 shares of the utilities provider’s stock valued at $415,000 after buying an additional 137 shares in the last quarter. Securian Asset Management Inc. lifted its stake in shares of Consolidated Edison by 3.2% in the second quarter. Securian Asset Management Inc. now owns 18,837 shares of the utilities provider’s stock valued at $1,890,000 after buying an additional 578 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its stake in shares of Consolidated Edison by 1.5% in the second quarter. Avidian Wealth Enterprises LLC now owns 8,216 shares of the utilities provider’s stock valued at $824,000 after buying an additional 119 shares in the last quarter. Bogart Wealth LLC lifted its stake in shares of Consolidated Edison by 886.5% in the second quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock valued at $37,000 after buying an additional 328 shares in the last quarter. Finally, Drive Wealth Management LLC bought a new position in shares of Consolidated Edison in the second quarter valued at $241,000. 66.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

ED has been the topic of a number of recent analyst reports. Evercore ISI initiated 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 on the stock. KeyCorp raised their price target on shares of Consolidated Edison from $88.00 to $90.00 and gave the company an “underweight” rating in a research report on Wednesday, October 15th. Barclays dropped their price target on shares of Consolidated Edison from $107.00 to $105.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 21st. Morgan Stanley raised their price target on shares of Consolidated Edison from $93.00 to $100.00 and gave the company an “underweight” rating in a research report on Wednesday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Consolidated Edison in a research report on Wednesday, October 8th. 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. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $106.33.

Consolidated Edison Stock Performance

NYSE ED opened at $99.99 on Monday. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week high of $114.87. The company has a 50-day simple moving average of $99.23 and a 200 day simple moving average of $102.50. 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 company has a market capitalization of $36.06 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 2.78 and a beta of 0.32.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate 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 last year, the company 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 year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors 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 3.4%. Consolidated Edison’s payout ratio is currently 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.