3,511 Shares in Consolidated Edison Inc $ED Acquired by FCG Investment Co

Key Points

• FCG Investment Co acquired 3,511 shares of Consolidated Edison Inc, valued at approximately $352,000, in the second quarter.
• Bank of America downgraded the stock from a "buy" to an "underperform" rating, with a revised price target of $101.00, while Mizuho raised their target to $112.00 and rated it "outperform."
• Consolidated Edison recently declared a quarterly dividend of $0.85, reflecting an annualized dividend yield of 3.5% and a payout ratio of 61.71%.

FCG Investment Co acquired a new stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 3,511 shares of the utilities provider's stock, valued at approximately $352,000.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Bank of America cut shares of Consolidated Edison from a "buy" rating to an "underperform" rating and reduced their price target for the stock from $112.00 to $101.00 in a research report on Friday, August 15th. Barclays upped their target price on shares of Consolidated Edison from $101.00 to $107.00 and gave the company an "underweight" rating in a research report on Wednesday, August 13th. Scotiabank lifted their price target on Consolidated Edison from $101.00 to $106.00 and gave the stock a "sector perform" rating in a research report on Monday, August 11th. Morgan Stanley decreased their price objective on Consolidated Edison from $95.00 to $93.00 and set an "underweight" rating on the stock in a research report on Thursday. Finally, Mizuho lifted their target price on Consolidated Edison from $107.00 to $112.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $105.91.

Consolidated Edison Trading Down 0.5%

ED opened at $98.34 on Friday. 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's fifty day moving average is $100.33 and its two-hundred day moving average is $103.56. The company has a market capitalization of $35.46 billion, a P/E ratio of 17.85, a PEG ratio of 2.75 and a beta of 0.28. Consolidated Edison Inc has a 52 week low of $87.28 and a 52 week high of $114.87.

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

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th were issued a $0.85 dividend. The ex-dividend date was Wednesday, August 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.5%. Consolidated Edison's dividend payout ratio (DPR) is currently 61.71%.

Consolidated Edison Company 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.

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