Secured Retirement Advisors LLC Raises Stock Position in Consolidated Edison Inc $ED

Secured Retirement Advisors LLC boosted its position in shares of Consolidated Edison Inc (NYSE:ED) by 58.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,221 shares of the utilities provider’s stock after purchasing an additional 8,529 shares during the period. Consolidated Edison makes up 1.4% of Secured Retirement Advisors LLC’s holdings, making the stock its 14th biggest holding. Secured Retirement Advisors LLC’s holdings in Consolidated Edison were worth $2,330,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Louisiana State Employees Retirement System raised its position in shares of Consolidated Edison by 2.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 19,000 shares of the utilities provider’s stock valued at $1,907,000 after buying an additional 400 shares during the period. Sax Wealth Advisors LLC raised its holdings in Consolidated Edison by 7.5% in the 2nd quarter. Sax Wealth Advisors LLC now owns 3,276 shares of the utilities provider’s stock valued at $329,000 after buying an additional 228 shares during the period. Shell Asset Management Co. raised its holdings in Consolidated Edison by 17.3% in the 2nd quarter. Shell Asset Management Co. now owns 35,651 shares of the utilities provider’s stock valued at $3,578,000 after buying an additional 5,262 shares during the period. TriaGen Wealth Management LLC raised its stake in shares of Consolidated Edison by 16.6% in the 2nd quarter. TriaGen Wealth Management LLC now owns 6,205 shares of the utilities provider’s stock valued at $623,000 after acquiring an additional 883 shares during the period. Finally, Joel Isaacson & Co. LLC raised its stake in shares of Consolidated Edison by 4.4% in the 2nd quarter. Joel Isaacson & Co. LLC now owns 23,767 shares of the utilities provider’s stock valued at $2,385,000 after acquiring an additional 1,012 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ED shares. Evercore ISI started coverage on Consolidated Edison in a research report on Tuesday. They issued an “in-line” rating and a $106.00 target price on the stock. New Street Research set a $106.00 price objective on Consolidated Edison in a report on Monday. Mizuho boosted their price target on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Morgan Stanley cut their price target 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. Finally, Barclays upped their target price on shares of Consolidated Edison from $101.00 to $107.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 13th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Consolidated Edison presently has an average rating of “Hold” and an average target price of $105.92.

Consolidated Edison Stock Up 0.7%

ED stock opened at $100.02 on Wednesday. The company’s 50 day moving average price is $99.87 and its 200 day moving average price is $103.15. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. Consolidated Edison Inc has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The firm has a market capitalization of $36.07 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 2.76 and a beta of 0.32.

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

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Wednesday, August 13th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Wednesday, August 13th. Consolidated Edison’s dividend payout ratio is 61.71%.

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.