Inscription Capital LLC Boosts Stock Holdings in Consolidated Edison Inc $ED

Inscription Capital LLC grew its position in Consolidated Edison Inc (NYSE:ED) by 101.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,466 shares of the utilities provider’s stock after acquiring an additional 5,761 shares during the quarter. Inscription Capital LLC’s holdings in Consolidated Edison were worth $1,153,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Salomon & Ludwin LLC lifted its holdings in Consolidated Edison by 270.4% in the 3rd quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 219 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in shares of Consolidated Edison by 53.2% in the second quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock valued at $32,000 after buying an additional 109 shares during the last quarter. Bogart Wealth LLC lifted its stake in shares of 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 buying an additional 328 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Consolidated Edison during the third quarter worth about $38,000. Finally, SJS Investment Consulting Inc. grew its stake in Consolidated Edison by 1,677.3% during the 2nd quarter. SJS Investment Consulting Inc. now owns 391 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 369 shares in the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $104.98 on Wednesday. The firm has a market cap of $37.89 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 2.83 and a beta of 0.39. 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 Inc has a 52 week low of $90.35 and a 52 week high of $114.87. The business’s fifty day simple moving average is $99.50 and its 200-day simple moving average is $99.87.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.14. The firm had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.22 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.79%. 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. Equities analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Insider Activity at Consolidated Edison

In related news, Director John F. Killian sold 2,276 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $96.89, for a total transaction of $220,521.64. Following the completion of the transaction, the director owned 38,661 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. KeyCorp decreased 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, December 12th. Evercore ISI started coverage on Consolidated Edison in a research note on Tuesday, October 7th. They set an “in-line” rating and a $106.00 price objective on the stock. Morgan Stanley set a $92.00 target price on Consolidated Edison in a report on Tuesday, December 16th. Royal Bank Of Canada began coverage on Consolidated Edison in a report on Wednesday, January 7th. They set a “sector perform” rating and a $114.00 price target on the stock. Finally, New Street Research set a $106.00 price objective on shares of Consolidated Edison in a report on Monday, October 6th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, Consolidated Edison has an average rating of “Reduce” and an average target price of $103.27.

Consolidated Edison Company Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.