Consolidated Edison Inc $ED Shares Acquired by Secured Retirement Advisors LLC

Key Points

• Secured Retirement Advisors LLC increased its stake in Consolidated Edison Inc by 58.1%, acquiring a total of 23,221 shares during the second quarter, which is now 1.4% of their investment portfolio.
• The latest earnings report revealed that Consolidated Edison posted $0.67 earnings per share, exceeding analyst expectations, with revenues reaching $3.60 billion.
• The company recently announced a quarterly dividend of $0.85 per share, resulting in an annualized yield of 3.4% and a payout ratio of 61.71%.

Secured Retirement Advisors LLC lifted its position in Consolidated Edison Inc (NYSE:ED - Free Report) by 58.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,221 shares of the utilities provider's stock after acquiring an additional 8,529 shares during the period. Consolidated Edison accounts for approximately 1.4% of Secured Retirement Advisors LLC's investment portfolio, making the stock its 14th biggest holding. Secured Retirement Advisors LLC's holdings in Consolidated Edison were worth $2,330,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Alpine Bank Wealth Management purchased a new stake in Consolidated Edison in the first quarter valued at approximately $32,000. Fort Vancouver Investment Management LLC purchased a new stake in shares of Consolidated Edison in the first quarter worth about $33,000. Financial Network Wealth Advisors LLC purchased a new stake in shares of Consolidated Edison in the first quarter worth about $33,000. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Consolidated Edison by 64.9% in the first 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 last quarter. Finally, Elite Financial Inc. purchased a new stake in shares of Consolidated Edison in the first quarter worth about $38,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Trading Up 0.7%

Shares of ED stock opened at $100.02 on Wednesday. The stock's fifty day moving average is $99.87 and its two-hundred day moving average is $103.15. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. The firm has a market capitalization of $36.07 billion, a P/E ratio of 18.15, a PEG ratio of 2.76 and a beta of 0.32. Consolidated Edison Inc has a fifty-two week low of $87.28 and a fifty-two week high of $114.87.

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

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Wednesday, August 13th were given a dividend of $0.85 per share. The ex-dividend date was Wednesday, August 13th. This represents a $3.40 dividend on an annualized basis and a yield of 3.4%. Consolidated Edison's dividend payout ratio (DPR) is presently 61.71%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Mizuho upped their price objective on Consolidated Edison from $107.00 to $112.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Barclays increased their price target on shares of Consolidated Edison from $101.00 to $107.00 and gave the stock an "underweight" rating in a report on Wednesday, August 13th. KeyCorp reissued an "overweight" rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Morgan Stanley lowered their price target on Consolidated Edison from $95.00 to $93.00 and set an "underweight" rating on the stock in a research report on Thursday, September 25th. Finally, Bank of America downgraded Consolidated Edison from a "buy" rating to an "underperform" rating and lowered their price target for the stock from $112.00 to $101.00 in a research report on Friday, August 15th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Consolidated Edison presently has a consensus rating of "Hold" and a consensus target price of $105.92.

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.

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