Andra AP fonden Increases Stock Holdings in Consolidated Edison Inc $ED

Andra AP fonden grew its position in shares of Consolidated Edison Inc (NYSE:ED) by 505.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,500 shares of the utilities provider’s stock after purchasing an additional 108,100 shares during the period. Andra AP fonden’s holdings in Consolidated Edison were worth $12,995,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Exchange Traded Concepts LLC increased its stake in Consolidated Edison by 1.0% in the 2nd quarter. Exchange Traded Concepts LLC now owns 11,050 shares of the utilities provider’s stock worth $1,109,000 after acquiring an additional 109 shares during the last quarter. Capital Advisors Ltd. LLC boosted its position in shares of Consolidated Edison by 53.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 109 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Consolidated Edison by 1.3% during the second quarter. Farther Finance Advisors LLC now owns 8,896 shares of the utilities provider’s stock worth $893,000 after purchasing an additional 110 shares in the last quarter. Avidian Wealth Enterprises LLC increased its position 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 worth $824,000 after purchasing an additional 119 shares during the last quarter. Finally, Eastern Bank increased its position in shares of Consolidated Edison by 2.9% in the first quarter. Eastern Bank now owns 4,294 shares of the utilities provider’s stock worth $475,000 after purchasing an additional 120 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ED shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a research report on Wednesday. Scotiabank raised their price objective on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a research report on Monday, August 11th. Morgan Stanley upped their target price on shares of Consolidated Edison from $93.00 to $100.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 22nd. Evercore ISI started coverage on Consolidated Edison in a research note on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 target price on the stock. Finally, Wells Fargo & Company raised Consolidated Edison to a “hold” rating in a research note on Tuesday, October 28th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Consolidated Edison has a consensus rating of “Reduce” and an average price target of $105.08.

Consolidated Edison Trading Up 0.8%

NYSE ED opened at $96.89 on Friday. The firm has a market cap of $34.94 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 2.70 and a beta of 0.32. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year high of $114.87. The stock has a 50-day moving average of $98.74 and a 200-day moving average of $101.76. 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 results on Thursday, November 6th. The utilities provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.14. The business had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.22 billion. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.During the same period in the previous year, the firm earned $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. As a group, sell-side analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th will be given 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 3.5%. Consolidated Edison’s dividend payout ratio is presently 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.