AE Wealth Management LLC Has $933,000 Holdings in Consolidated Edison Inc $ED

AE Wealth Management LLC lifted its position in Consolidated Edison Inc (NYSE:ED) by 38.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,297 shares of the utilities provider’s stock after acquiring an additional 2,567 shares during the period. AE Wealth Management LLC’s holdings in Consolidated Edison were worth $933,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Capital Advisors Ltd. LLC raised its stake in 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 purchasing an additional 109 shares during the period. Financial Network Wealth Advisors LLC purchased a new position in shares of Consolidated Edison during the first quarter valued at $33,000. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Consolidated Edison by 64.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock valued at $34,000 after buying an additional 120 shares in the last quarter. Bogart Wealth LLC lifted its stake in Consolidated Edison by 886.5% in the 2nd quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 328 shares in the last quarter. Finally, SJS Investment Consulting Inc. lifted its stake in Consolidated Edison by 1,677.3% in the 2nd quarter. SJS Investment Consulting Inc. now owns 391 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 369 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 weighed in on ED. Bank of America lowered shares of Consolidated Edison from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $112.00 to $101.00 in a research note on Friday, August 15th. Wells Fargo & Company upgraded shares of Consolidated Edison to a “hold” rating in a report on Tuesday, October 28th. Mizuho upped their price target on Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Consolidated Edison in a report on Tuesday. Finally, KeyCorp lifted their target price on shares of Consolidated Edison from $88.00 to $90.00 and gave the company an “underweight” rating in a research report on Wednesday, October 15th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $104.75.

Consolidated Edison Stock Up 0.6%

Shares of NYSE:ED opened at $100.84 on Friday. The company has a market cap of $36.37 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.70 and a beta of 0.32. 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 company has a 50-day moving average price of $98.90 and a 200 day moving average price of $101.33. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.14. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same period in the prior year, the company earned $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. As a group, equities research analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, November 19th. Consolidated Edison’s dividend payout ratio is 59.44%.

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.