B. Riley Wealth Advisors Inc. Buys New Holdings in Consolidated Edison Inc $ED

B. Riley Wealth Advisors Inc. bought a new position in shares of Consolidated Edison Inc (NYSE:ED) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 8,914 shares of the utilities provider’s stock, valued at approximately $895,000.

A number of other institutional investors also recently modified their holdings of ED. Atlantic Union Bankshares Corp increased its holdings in Consolidated Edison by 46.7% in the 2nd quarter. Atlantic Union Bankshares Corp now owns 3,714 shares of the utilities provider’s stock worth $373,000 after purchasing an additional 1,183 shares in the last quarter. ATLAS Infrastructure Partners UK Ltd. boosted its stake in shares of Consolidated Edison by 4.8% during the second quarter. ATLAS Infrastructure Partners UK Ltd. now owns 2,409,288 shares of the utilities provider’s stock valued at $241,772,000 after purchasing an additional 110,666 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of Consolidated Edison during the first quarter worth about $1,631,000. Texas Yale Capital Corp. increased its stake in shares of Consolidated Edison by 41.8% in the second quarter. Texas Yale Capital Corp. now owns 16,627 shares of the utilities provider’s stock valued at $1,669,000 after buying an additional 4,900 shares during the period. Finally, CENTRAL TRUST Co raised its holdings in Consolidated Edison by 18.8% in the 2nd quarter. CENTRAL TRUST Co now owns 6,960 shares of the utilities provider’s stock valued at $698,000 after buying an additional 1,102 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Insider Activity at Consolidated Edison

In other news, Director John F. Killian sold 2,276 shares of Consolidated Edison stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total value of $220,521.64. Following the completion of the transaction, the director owned 38,661 shares in the company, valued at approximately $3,745,864.29. The trade was a 5.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a report on Monday, December 8th. KeyCorp decreased their target price on Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating for the company in a research report on Friday. JPMorgan Chase & Co. lowered their price objective on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating on the stock in a report on Friday. Barclays dropped their target price on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a report on Monday, November 10th. Finally, New Street Research set a $106.00 target price on Consolidated Edison in a research note on Monday, October 6th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $103.69.

Consolidated Edison Trading Up 1.9%

Shares of ED opened at $99.36 on Tuesday. The firm has a fifty day simple moving average of $99.29 and a two-hundred day simple moving average of $100.08. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87. The stock has a market capitalization of $35.86 billion, a P/E ratio of 17.37, a PEG ratio of 2.83 and a beta of 0.37. The company has a quick ratio of 0.97, a current ratio of 1.08 and a debt-to-equity ratio of 1.03.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the business earned $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, research analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th were paid a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.4%. 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.