Allworth Financial LP Increases Stock Holdings in Consolidated Edison Inc $ED

Allworth Financial LP boosted its stake in Consolidated Edison Inc (NYSE:ED) by 74.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,712 shares of the utilities provider’s stock after acquiring an additional 4,563 shares during the period. Allworth Financial LP’s holdings in Consolidated Edison were worth $1,075,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. ATLAS Infrastructure Partners UK Ltd. bought a new stake in shares of Consolidated Edison during the 1st quarter valued at about $254,205,000. Deutsche Bank AG raised its stake in Consolidated Edison by 130.6% in the first quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider’s stock worth $434,266,000 after buying an additional 2,223,959 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Consolidated Edison by 106.9% in the first quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider’s stock worth $308,643,000 after buying an additional 1,441,785 shares during the period. Nuveen LLC bought a new stake in Consolidated Edison during the 1st quarter valued at approximately $146,073,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Consolidated Edison by 215.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,688,480 shares of the utilities provider’s stock valued at $186,730,000 after acquiring an additional 1,152,892 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ED. Mizuho raised their target price on Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Evercore ISI started coverage on Consolidated Edison in a report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 price objective for the company. New Street Research set a $106.00 target price on shares of Consolidated Edison in a report on Monday, October 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Consolidated Edison in a research report on Tuesday. Finally, Barclays decreased their price target on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a research note on Monday, November 10th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, Consolidated Edison presently has an average rating of “Reduce” and an average price target of $104.75.

Consolidated Edison Trading Up 0.6%

NYSE:ED opened at $101.60 on Friday. The company’s 50 day moving average price is $98.97 and its 200-day moving average price is $101.27. Consolidated Edison Inc has a 52 week low of $87.28 and a 52 week high of $114.87. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. The stock has a market cap of $36.67 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 2.70 and a beta of 0.32.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates 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 last year, the company posted $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, equities research analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, November 19th. Consolidated Edison’s dividend payout ratio is presently 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.