Geneos Wealth Management Inc. Cuts Stock Holdings in Consolidated Edison Inc $ED

Geneos Wealth Management Inc. lowered its stake in shares of Consolidated Edison Inc (NYSE:ED) by 16.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,993 shares of the utilities provider’s stock after selling 1,176 shares during the period. Geneos Wealth Management Inc.’s holdings in Consolidated Edison were worth $663,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Merit Financial Group LLC increased its position in shares of Consolidated Edison by 16.8% in the first quarter. Merit Financial Group LLC now owns 10,666 shares of the utilities provider’s stock worth $1,180,000 after acquiring an additional 1,533 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in shares of Consolidated Edison in the first quarter worth $227,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Consolidated Edison by 2.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 250,014 shares of the utilities provider’s stock worth $27,649,000 after acquiring an additional 6,869 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of Consolidated Edison in the first quarter worth $217,000. Finally, GAMMA Investing LLC increased its position in shares of Consolidated Edison by 45.0% in the first quarter. GAMMA Investing LLC now owns 9,242 shares of the utilities provider’s stock worth $1,022,000 after acquiring an additional 2,869 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on ED. Morgan Stanley reissued an “underweight” rating on shares of Consolidated Edison in a research report on Thursday, August 21st. Scotiabank increased 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 report on Monday, August 11th. KeyCorp reaffirmed an “overweight” rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Barclays raised their price target on shares of Consolidated Edison from $101.00 to $107.00 and gave the company an “underweight” rating in a report on Wednesday, August 13th. Finally, Bank of America lowered shares of Consolidated Edison from a “buy” rating to an “underperform” rating and lowered their price target for the company from $112.00 to $101.00 in a report on Friday, August 15th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $105.82.

Consolidated Edison Price Performance

ED opened at $97.54 on Friday. The company has a fifty day simple moving average of $100.92 and a 200 day simple moving average of $103.90. The firm has a market cap of $35.18 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 2.72 and a beta of 0.28. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87. 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 announced 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. The company had revenue of $3.60 billion during 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 period last year, the business earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities research analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

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 issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, August 13th. Consolidated Edison’s dividend payout ratio (DPR) is currently 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.