Caldwell Trust Co Buys New Stake in Consolidated Edison Inc $ED

Caldwell Trust Co purchased a new position in Consolidated Edison Inc (NYSE:ED) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 23,907 shares of the utilities provider’s stock, valued at approximately $2,399,000.

Other hedge funds also recently bought and sold shares of the company. Capital Advisors Ltd. LLC increased its holdings in shares of Consolidated Edison by 53.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock worth $32,000 after buying an additional 109 shares during the last quarter. Bogart Wealth LLC grew its position in Consolidated Edison by 886.5% in the second 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. SJS Investment Consulting Inc. increased its stake in Consolidated Edison by 1,677.3% during the second quarter. SJS Investment Consulting Inc. now owns 391 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 369 shares during the last quarter. HFM Investment Advisors LLC purchased a new stake in Consolidated Edison during the first quarter valued at approximately $52,000. Finally, Darwin Wealth Management LLC bought a new stake in shares of Consolidated Edison in the 2nd quarter valued at approximately $52,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Insider Transactions at Consolidated Edison

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total transaction of $220,521.64. Following the transaction, the director directly owned 38,661 shares in the company, valued at $3,745,864.29. This trade represents a 5.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.17% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Evercore ISI began coverage on Consolidated Edison in a research report on Tuesday, October 7th. They set an “in-line” rating and a $106.00 target price on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a research report on Monday, December 8th. KeyCorp reduced their target price on shares of Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating on the stock in a research note on Friday. JPMorgan Chase & Co. lowered their target price on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a report on Friday. Finally, Barclays cut their price target on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a report on Monday, November 10th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, Consolidated Edison presently has a consensus rating of “Reduce” and a consensus price target of $103.69.

Consolidated Edison Stock Up 2.0%

Shares of ED opened at $97.55 on Monday. The firm has a fifty day moving average price of $99.29 and a 200-day moving average price of $100.11. The company has a current ratio of 1.08, a quick ratio of 0.97 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $35.21 billion, a P/E ratio of 17.05, a P/E/G ratio of 2.83 and a beta of 0.37. 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 results on Thursday, November 6th. The utilities provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.76 by $0.14. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.79%. During the same period in the prior year, the firm posted $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Equities research analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Wednesday, November 19th will be issued a $0.85 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.5%. Consolidated Edison’s payout ratio is presently 59.44%.

About Consolidated Edison

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.