CW Advisors LLC Increases Position in Consolidated Edison Inc $ED

Key Points

• CW Advisors LLC increased its position in Consolidated Edison Inc by 86.7% during the first quarter, owning 20,182 shares valued at approximately $2.2 million.
• Multiple hedge funds, including Merit Financial Group and GAMMA Investing LLC, have also modified their holdings in Consolidated Edison, reflecting growing institutional interest.
• Consolidated Edison reported earnings of $0.67 EPS for the last quarter, exceeding analysts' expectations, and has announced a quarterly dividend of $0.85 per share, representing a 3.3% yield.

CW Advisors LLC lifted its holdings in Consolidated Edison Inc (NYSE:ED - Free Report) by 86.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,182 shares of the utilities provider's stock after buying an additional 9,371 shares during the period. CW Advisors LLC's holdings in Consolidated Edison were worth $2,217,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Merit Financial Group LLC raised its holdings in shares of Consolidated Edison by 16.8% in the 1st quarter. Merit Financial Group LLC now owns 10,666 shares of the utilities provider's stock worth $1,180,000 after purchasing an additional 1,533 shares during the period. Ritholtz Wealth Management bought a new stake in shares of Consolidated Edison in the 1st quarter worth approximately $227,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Consolidated Edison by 2.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 250,014 shares of the utilities provider's stock worth $27,649,000 after purchasing an additional 6,869 shares during the period. Flagship Harbor Advisors LLC bought a new stake in shares of Consolidated Edison in the 1st quarter worth approximately $217,000. Finally, GAMMA Investing LLC raised its holdings in shares of Consolidated Edison by 45.0% in the 1st quarter. GAMMA Investing LLC now owns 9,242 shares of the utilities provider's stock worth $1,022,000 after purchasing an additional 2,869 shares during the period. Institutional investors own 66.29% of the company's stock.

Wall Street Analyst Weigh In

ED has been the topic of a number of research reports. Mizuho lifted their price target on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Barclays lifted 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 reaffirmed an "overweight" rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Wells Fargo & Company lifted their price target on shares of Consolidated Edison from $103.00 to $114.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Finally, Guggenheim boosted their target price on shares of Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $105.82.

Consolidated Edison Trading Up 0.1%

Shares of ED stock opened at $101.5520 on Monday. The company's fifty day simple moving average is $101.54 and its two-hundred day simple moving average is $103.82. 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 1 year low of $87.28 and a 1 year high of $114.87. The stock has a market capitalization of $36.62 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 2.83 and a beta of 0.24.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. The business had revenue of $3.60 billion for the quarter, compared to analysts' expectations 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 firm posted $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

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

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