NorthCrest Asset Manangement LLC Has $1.15 Million Stock Holdings in Consolidated Edison Inc $ED

Key Points

• NorthCrest Asset Management LLC has increased its holdings in Consolidated Edison Inc by 88.1%, now owning 11,498 shares valued at approximately $1.15 million.
• Consolidated Edison recently reported earnings of $0.67 per share, exceeding analysts' estimates, with a revenue of $3.60 billion for the quarter.
• The company has announced a quarterly dividend of $0.85 per share, offering an annualized yield of 3.5% and maintaining a payout ratio of 61.71%.

NorthCrest Asset Manangement LLC raised its holdings in Consolidated Edison Inc (NYSE:ED - Free Report) by 88.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,498 shares of the utilities provider's stock after acquiring an additional 5,386 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Consolidated Edison were worth $1,153,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ED. Western Wealth Management LLC raised its position in shares of Consolidated Edison by 0.7% in the first quarter. Western Wealth Management LLC now owns 16,101 shares of the utilities provider's stock valued at $1,781,000 after purchasing an additional 116 shares during the period. Eastern Bank raised its position 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 valued at $475,000 after purchasing an additional 120 shares during the period. Cary Street Partners Investment Advisory LLC raised its position in shares of Consolidated Edison by 64.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider's stock valued at $34,000 after purchasing an additional 120 shares during the period. Integrated Advisors Network LLC raised its position in shares of Consolidated Edison by 1.6% in the first quarter. Integrated Advisors Network LLC now owns 7,842 shares of the utilities provider's stock valued at $867,000 after purchasing an additional 121 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC raised its position in shares of Consolidated Edison by 4.3% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,915 shares of the utilities provider's stock valued at $322,000 after purchasing an additional 121 shares during the period. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Trading Up 0.1%

Shares of NYSE ED opened at $96.41 on Friday. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year high of $114.87. The company has a market cap of $34.77 billion, a PE ratio of 17.50, a P/E/G ratio of 2.68 and a beta of 0.28. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The company has a 50-day moving average of $100.53 and a two-hundred day moving average of $103.69.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its earnings results 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. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the previous year, the firm posted $0.59 earnings per share. 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 Announces Dividend

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

Analyst Upgrades and Downgrades

ED has been the topic of a number of recent analyst reports. Barclays lifted their price target on shares of Consolidated Edison from $101.00 to $107.00 and gave the company an "underweight" rating in a research report on Wednesday, August 13th. Mizuho raised their price target on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. KeyCorp restated an "overweight" rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Morgan Stanley restated an "underweight" rating on shares of Consolidated Edison in a research report on Thursday, August 21st. Finally, Scotiabank raised their price target on shares of Consolidated Edison from $101.00 to $106.00 and gave the stock a "sector perform" rating in a research report on Monday, August 11th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $105.82.

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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