Stance Capital LLC Raises Stock Position in Consolidated Edison Inc $ED

Stance Capital LLC boosted its position in Consolidated Edison Inc (NYSE:ED) by 0.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 39,635 shares of the utilities provider’s stock after purchasing an additional 372 shares during the quarter. Consolidated Edison comprises 3.1% of Stance Capital LLC’s holdings, making the stock its 7th biggest position. Stance Capital LLC’s holdings in Consolidated Edison were worth $4,383,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Alpine Bank Wealth Management bought a new stake in shares of Consolidated Edison during the 1st quarter worth about $32,000. Fort Vancouver Investment Management LLC bought a new stake in shares of Consolidated Edison during the 1st quarter worth about $33,000. Financial Network Wealth Advisors LLC bought a new stake in shares of Consolidated Edison during the 1st quarter worth about $33,000. Cary Street Partners Investment Advisory LLC raised its position in shares of Consolidated Edison by 64.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock worth $34,000 after buying an additional 120 shares in the last quarter. Finally, Elite Financial Inc. bought a new stake in shares of Consolidated Edison during the 1st quarter worth about $38,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Bank of America cut shares of Consolidated Edison from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $112.00 to $101.00 in a research note on Friday, August 15th. Morgan Stanley reaffirmed an “underweight” rating on shares of Consolidated Edison in a research note on Thursday, August 21st. Scotiabank lifted their price objective on shares of Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research note on Monday, August 11th. Barclays lifted their price objective 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. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $105.82.

Consolidated Edison Stock Up 0.2%

ED opened at $98.01 on Friday. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87. The firm’s 50-day simple moving average is $101.22 and its 200-day simple moving average is $103.96. 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 $35.35 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 2.72 and a beta of 0.28.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share 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 analyst estimates of $3.39 billion. During the same quarter last year, the firm earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities research analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, August 13th. Consolidated Edison’s payout ratio is 61.71%.

About Consolidated Edison

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.