LVM Capital Management Ltd. MI Invests $501,000 in Consolidated Edison Inc $ED

Key Points

• LVM Capital Management Ltd. invested $501,000 in Consolidated Edison Inc by acquiring 4,992 shares during the second quarter.
• Several institutional investors, including Merit Financial Group LLC and GAMMA Investing LLC, have increased their stakes in Consolidated Edison, highlighting a trend of growing interest among institutions.
• Consolidated Edison recently reported earnings of $0.67 per share, exceeding expectations, and announced a quarterly dividend of $0.85 per share, reflecting a dividend yield of 3.5%.

LVM Capital Management Ltd. MI acquired a new position in Consolidated Edison Inc (NYSE:ED - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,992 shares of the utilities provider's stock, valued at approximately $501,000.

Other institutional investors have also recently made changes to their positions in the company. Merit Financial Group LLC raised its stake in shares of Consolidated Edison by 16.8% in the first quarter. Merit Financial Group LLC now owns 10,666 shares of the utilities provider's stock worth $1,180,000 after buying an additional 1,533 shares during the period. Ritholtz Wealth Management purchased a new position in Consolidated Edison in the 1st quarter worth approximately $227,000. Wealth Enhancement Advisory Services LLC lifted its holdings in 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 in the last quarter. Flagship Harbor Advisors LLC purchased a new position in Consolidated Edison in the 1st quarter worth approximately $217,000. Finally, GAMMA Investing LLC lifted its holdings in 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 in the last quarter. Institutional investors own 66.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Morgan Stanley reissued an "underweight" rating on shares of Consolidated Edison in a report on Thursday, August 21st. Bank of America cut Consolidated Edison from a "buy" rating to an "underperform" rating and lowered their price target for the stock from $112.00 to $101.00 in a report on Friday, August 15th. Scotiabank boosted their price target on Consolidated Edison from $101.00 to $106.00 and gave the stock a "sector perform" rating in a report on Monday, August 11th. KeyCorp reissued an "overweight" rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Finally, Mizuho boosted 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. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Consolidated Edison presently has a consensus rating of "Hold" and a consensus target price of $105.82.

Consolidated Edison Stock Down 0.2%

Shares of ED opened at $97.54 on Friday. The stock has a market capitalization of $35.18 billion, a price-to-earnings ratio of 17.70, a price-to-earnings-growth ratio of 2.72 and a beta of 0.28. Consolidated Edison Inc has a 1 year low of $87.28 and a 1 year high of $114.87. The business's 50 day simple moving average is $100.92 and its 200-day simple moving average is $103.88. 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 data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 8.56% and a net margin of 11.98%.During the same period in the prior year, the firm earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, equities analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently announced 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 of this dividend is Wednesday, August 13th. This represents a $3.40 annualized dividend and a dividend yield of 3.5%. Consolidated Edison's payout ratio is currently 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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