Ethos Financial Group LLC Takes $1.73 Million Position in Consolidated Edison Inc $ED

Key Points

• Ethos Financial Group LLC acquired 15,648 shares of Consolidated Edison Inc, valued at approximately $1.73 million, during the first quarter.
• The stock has received mixed ratings from analysts, with an average rating of "Hold" and a price target of $105.82.
• Consolidated Edison announced a quarterly dividend of $0.85 per share, yielding 3.4%, to be paid on September 15th.

Ethos Financial Group LLC purchased a new stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 15,648 shares of the utilities provider's stock, valued at approximately $1,731,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Alpine Bank Wealth Management acquired a new stake in Consolidated Edison in the 1st quarter worth approximately $32,000. Fort Vancouver Investment Management LLC bought a new position in shares of Consolidated Edison in the first quarter valued at approximately $33,000. Financial Network Wealth Advisors LLC acquired a new stake in shares of Consolidated Edison in the first quarter worth $33,000. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Consolidated Edison by 64.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider's stock worth $34,000 after buying an additional 120 shares during the period. Finally, Wood Tarver Financial Group LLC acquired a new position in Consolidated Edison in the 4th quarter valued at $35,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ED shares. Mizuho raised their price target on Consolidated Edison from $107.00 to $112.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. KeyCorp restated an "overweight" rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Bank of America downgraded Consolidated Edison from a "buy" rating to an "underperform" rating and dropped their price target for the stock from $112.00 to $101.00 in a research report on Friday, August 15th. Scotiabank upped their price target on Consolidated Edison from $101.00 to $106.00 and gave the stock a "sector perform" rating in a report on Monday, August 11th. Finally, Barclays raised their price objective on shares of Consolidated Edison from $101.00 to $107.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 13th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Consolidated Edison currently has an average rating of "Hold" and a consensus target price of $105.82.

Consolidated Edison Price Performance

Shares of NYSE:ED traded up $0.5850 during trading on Wednesday, reaching $101.6850. The stock had a trading volume of 3,216,438 shares, compared to its average volume of 2,750,939. The stock has a market capitalization of $36.67 billion, a PE ratio of 18.45, a P/E/G ratio of 2.77 and a beta of 0.24. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01. Consolidated Edison Inc has a 52 week low of $87.28 and a 52 week high of $114.87. The business's 50-day moving average price is $101.65 and its 200 day moving average price is $103.63.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. The firm had revenue of $3.60 billion during the quarter, compared to analysts' expectations of $3.39 billion. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.During the same period last year, the firm posted $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, equities analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Wednesday, August 13th will be given a dividend of $0.85 per share. The ex-dividend date is Wednesday, August 13th. This represents a $3.40 annualized dividend and a yield of 3.3%. Consolidated Edison's dividend payout ratio is 61.71%.

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.