Strs Ohio Takes Position in Consolidated Edison Inc $ED

Strs Ohio acquired a new stake in Consolidated Edison Inc (NYSE:ED) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 21,113 shares of the utilities provider’s stock, valued at approximately $2,335,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ED. Alpine Bank Wealth Management acquired a new stake in shares of Consolidated Edison in the 1st quarter valued at $32,000. Fort Vancouver Investment Management LLC acquired a new stake in Consolidated Edison during the 1st quarter worth $33,000. Financial Network Wealth Advisors LLC acquired a new stake in Consolidated Edison during the 1st quarter worth $33,000. Cary Street Partners Investment Advisory LLC raised its stake in 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 acquiring an additional 120 shares in the last quarter. Finally, Wood Tarver Financial Group LLC acquired a new stake in Consolidated Edison during the 4th quarter worth $35,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

Shares of ED opened at $96.98 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The stock has a market cap of $34.98 billion, a P/E ratio of 17.60, a PEG ratio of 2.71 and a beta of 0.28. The company has a 50-day moving average of $100.86 and a two-hundred day moving average of $103.90. Consolidated Edison Inc has a 12-month low of $87.28 and a 12-month high of $114.87.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The business 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 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. As a group, research analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Morgan Stanley reiterated an “underweight” rating on shares of Consolidated Edison in a research note on Thursday, August 21st. Mizuho lifted 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. Bank of America lowered shares of Consolidated Edison from a “buy” rating to an “underperform” rating and cut their price target for the stock from $112.00 to $101.00 in a research note on Friday, August 15th. KeyCorp reissued an “overweight” rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Finally, Scotiabank raised 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. Three 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’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $105.82.

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.