Kestra Advisory Services LLC Purchases 2,534 Shares of Consolidated Edison Inc $ED

Key Points

• Kestra Advisory Services LLC increased its stake in Consolidated Edison Inc by 4.3%, owning 61,342 shares valued at approximately $6.78 million as of the latest reporting period.
• Consolidated Edison reported $0.67 earnings per share in its most recent quarter, exceeding analysts' expectations, with revenue of $3.60 billion against an estimated $3.39 billion.
• The company has announced a quarterly dividend of $0.85, representing an annualized yield of 3.4%, with a dividend payout ratio of 61.71%.

Kestra Advisory Services LLC lifted its position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 4.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,342 shares of the utilities provider's stock after purchasing an additional 2,534 shares during the quarter. Kestra Advisory Services LLC's holdings in Consolidated Edison were worth $6,784,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Glen Eagle Advisors LLC raised its holdings in Consolidated Edison by 6.2% during the 4th quarter. Glen Eagle Advisors LLC now owns 1,902 shares of the utilities provider's stock valued at $170,000 after acquiring an additional 111 shares during the period. Western Wealth Management LLC lifted 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 acquiring an additional 116 shares during the last quarter. Eastern Bank grew its holdings in shares of Consolidated Edison by 2.9% in the first quarter. Eastern Bank now owns 4,294 shares of the utilities provider's stock worth $475,000 after purchasing an additional 120 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in Consolidated Edison by 64.9% in 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 last quarter. Finally, Integrated Advisors Network LLC raised its holdings in shares of Consolidated Edison by 1.6% during the first quarter. Integrated Advisors Network LLC now owns 7,842 shares of the utilities provider's stock valued at $867,000 after acquiring an additional 121 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wells Fargo & Company upped their target price on Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Morgan Stanley reaffirmed an "underweight" rating on shares of Consolidated Edison in a research report on Thursday, August 21st. Bank of America lowered 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 report on Friday, August 15th. Scotiabank raised their price objective on Consolidated Edison from $101.00 to $106.00 and gave the company a "sector perform" rating in a research report on Monday, August 11th. Finally, Barclays raised their price objective on Consolidated Edison from $101.00 to $107.00 and gave the company an "underweight" rating in a research report on Wednesday, August 13th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $105.82.

Consolidated Edison Price Performance

NYSE:ED traded up $0.13 on Friday, reaching $98.30. 4,219,518 shares of the company's stock traded hands, compared to its average volume of 2,766,216. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. The stock has a 50-day simple moving average of $101.41 and a 200-day simple moving average of $103.80. The firm has a market cap of $35.45 billion, a PE ratio of 17.84, a P/E/G ratio of 2.78 and a beta of 0.24. 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 firm 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 last year, the business posted $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities research analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Wednesday, August 13th. This represents a $3.40 annualized dividend and a dividend yield of 3.5%. Consolidated Edison's dividend payout ratio (DPR) is presently 61.71%.

Consolidated Edison Company 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.