Dogwood Wealth Management LLC Acquires 3,651 Shares of Consolidated Edison Inc $ED

Key Points

• Dogwood Wealth Management LLC increased its stake in Consolidated Edison Inc by 1,573.7%, acquiring an additional 3,651 shares in the second quarter, bringing its total holdings to 3,883 shares.
• Consolidated Edison reported $0.67 earnings per share for the most recent quarter, exceeding analyst expectations of $0.66, alongside revenues of $3.60 billion compared to the forecast of $3.39 billion.
• The company declared a quarterly dividend of $0.85 per share, resulting in an annualized yield of 3.4% based on a dividend payout ratio of 61.71%.

Dogwood Wealth Management LLC increased its position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 1,573.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,883 shares of the utilities provider's stock after acquiring an additional 3,651 shares during the period. Dogwood Wealth Management LLC's holdings in Consolidated Edison were worth $386,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ED. Revolve Wealth Partners LLC raised its stake in Consolidated Edison by 13.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider's stock worth $332,000 after buying an additional 441 shares during the period. Rhumbline Advisers grew its holdings in Consolidated Edison by 1.5% during the first quarter. Rhumbline Advisers now owns 751,355 shares of the utilities provider's stock valued at $83,092,000 after purchasing an additional 11,089 shares during the period. Czech National Bank grew its holdings in Consolidated Edison by 5.9% during the first quarter. Czech National Bank now owns 79,576 shares of the utilities provider's stock valued at $8,800,000 after purchasing an additional 4,467 shares during the period. NBC Securities Inc. grew its holdings in Consolidated Edison by 138,950.0% during the first quarter. NBC Securities Inc. now owns 2,781 shares of the utilities provider's stock valued at $307,000 after purchasing an additional 2,779 shares during the period. Finally, LVW Advisors LLC lifted its position in shares of Consolidated Edison by 5.5% during the first quarter. LVW Advisors LLC now owns 5,440 shares of the utilities provider's stock worth $602,000 after acquiring an additional 282 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Up 0.9%

ED opened at $100.51 on Wednesday. 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 52 week low of $87.28 and a 52 week high of $114.87. The firm has a 50-day simple moving average of $100.19 and a two-hundred day simple moving average of $103.46. The company has a market capitalization of $36.25 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 2.77 and a beta of 0.28.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.01. The company had revenue of $3.60 billion for 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 period in the prior year, the company posted $0.59 EPS. 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 fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th were paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.4%. The ex-dividend date was Wednesday, August 13th. Consolidated Edison's dividend payout ratio (DPR) is 61.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Scotiabank increased their price objective 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. Bank of America cut Consolidated Edison from a "buy" rating to an "underperform" rating and reduced their price objective for the company from $112.00 to $101.00 in a research note on Friday, August 15th. Barclays raised their target price on Consolidated Edison from $101.00 to $107.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 13th. Morgan Stanley cut 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, September 25th. Finally, KeyCorp reaffirmed an "overweight" rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $105.91.

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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