Consolidated Edison Inc $ED Stock Position Raised by Simplicity Wealth LLC

Key Points

• Simplicity Wealth LLC increased its stake in Consolidated Edison Inc by 89.9%, owning 11,522 shares valued at $1,156,000 after acquiring additional shares in the second quarter.
• Several institutional investors have also recently adjusted their positions, with 66.29% of the stock currently owned by hedge funds and institutional investors.
• Consolidated Edison reported $0.67 EPS for the latest quarter, exceeding estimates, and declared a quarterly dividend of $0.85 with an annualized yield of 3.4%.

Simplicity Wealth LLC increased its position in Consolidated Edison Inc (NYSE:ED - Free Report) by 89.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 11,522 shares of the utilities provider's stock after purchasing an additional 5,453 shares during the period. Simplicity Wealth LLC's holdings in Consolidated Edison were worth $1,156,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new stake in shares of Consolidated Edison in the first quarter worth $32,000. Fort Vancouver Investment Management LLC purchased a new stake in Consolidated Edison in the 1st quarter worth about $33,000. Financial Network Wealth Advisors LLC acquired a new stake in Consolidated Edison during the 1st quarter worth about $33,000. Cary Street Partners Investment Advisory LLC boosted its position in 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 acquiring an additional 120 shares during the period. Finally, Elite Financial Inc. purchased a new position in Consolidated Edison during the 1st quarter valued at about $38,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ED shares. KeyCorp reissued an "overweight" rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Barclays upped their price objective on shares of Consolidated Edison from $101.00 to $107.00 and gave the company an "underweight" rating in a research note on Wednesday, August 13th. New Street Research set a $106.00 target price on shares of Consolidated Edison in a research note on Monday. Weiss Ratings restated a "buy (b-)" rating on shares of Consolidated Edison in a report on Saturday, September 27th. Finally, Bank of America lowered Consolidated Edison from a "buy" rating to an "underperform" rating and cut their price objective for the stock from $112.00 to $101.00 in a report on Friday, August 15th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $105.92.

Consolidated Edison Stock Performance

Shares of ED opened at $99.28 on Tuesday. The firm has a market cap of $35.81 billion, a price-to-earnings ratio of 18.02, a price-to-earnings-growth ratio of 2.75 and a beta of 0.32. The company's fifty day moving average is $99.91 and its 200-day moving average is $103.17. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87.

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

Consolidated Edison Dividend Announcement

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

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