Consolidated Edison Inc $ED Shares Bought by Jones Financial Companies Lllp

Key Points

• Jones Financial Companies Lllp increased its stake in Consolidated Edison Inc by 35.8%, acquiring an additional 3,555 shares to reach a total of 13,476 shares worth approximately $1.49 million.
• Consolidated Edison declared a quarterly dividend of $0.85, with an annualized dividend yield of 3.5% and a payout ratio of 61.71%.
• Brokerage analysts have mixed ratings on Consolidated Edison, with three "Buy" ratings, six "Hold" ratings, and three "Sell" ratings, alongside a consensus price target of $105.82.

Jones Financial Companies Lllp grew its stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 35.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,476 shares of the utilities provider's stock after buying an additional 3,555 shares during the quarter. Jones Financial Companies Lllp's holdings in Consolidated Edison were worth $1,490,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ED. Glen Eagle Advisors LLC boosted its stake in Consolidated Edison by 6.2% during the fourth quarter. Glen Eagle Advisors LLC now owns 1,902 shares of the utilities provider's stock valued at $170,000 after buying an additional 111 shares during the last quarter. Western Wealth Management LLC boosted its holdings in shares of Consolidated Edison by 0.7% in the 1st quarter. Western Wealth Management LLC now owns 16,101 shares of the utilities provider's stock worth $1,781,000 after purchasing an additional 116 shares during the period. Eastern Bank increased its position in shares of Consolidated Edison by 2.9% during the 1st quarter. Eastern Bank now owns 4,294 shares of the utilities provider's stock valued at $475,000 after purchasing an additional 120 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings 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 valued at $34,000 after buying an additional 120 shares during the period. Finally, Integrated Advisors Network LLC lifted its position in Consolidated Edison by 1.6% in the first quarter. Integrated Advisors Network LLC now owns 7,842 shares of the utilities provider's stock worth $867,000 after buying an additional 121 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on ED. Barclays increased their price objective on shares of Consolidated Edison from $101.00 to $107.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 13th. Mizuho increased their price target on Consolidated Edison from $107.00 to $112.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Bank of America lowered Consolidated Edison from a "buy" rating to an "underperform" rating and decreased their price target for the stock from $112.00 to $101.00 in a research note on Friday, August 15th. Morgan Stanley reaffirmed an "underweight" rating on shares of Consolidated Edison in a research report on Thursday, August 21st. Finally, Scotiabank increased their target price on Consolidated Edison from $101.00 to $106.00 and gave the stock a "sector perform" rating in a research note on Monday, August 11th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Consolidated Edison has a consensus rating of "Hold" and a consensus target price of $105.82.

Consolidated Edison Stock Down 0.0%

Shares of ED stock traded down $0.02 during mid-day trading on Thursday, hitting $96.38. 1,815,545 shares of the stock traded hands, compared to its average volume of 2,311,303. The stock has a market cap of $34.76 billion, a P/E ratio of 17.49, a P/E/G ratio of 2.68 and a beta of 0.28. The stock's fifty day moving average is $100.61 and its two-hundred day moving average is $103.74. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week high of $114.87. 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 (NYSE:ED - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.01. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the prior year, the firm posted $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

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

About Consolidated Edison

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.