Stratos Wealth Partners LTD. Has $2.39 Million Holdings in Consolidated Edison Inc $ED

Key Points

• Stratos Wealth Partners LTD. **boosted its stake** in Consolidated Edison Inc by **115.4%**, increasing its holdings to **23,807 shares** valued at approximately **$2.39 million**.
• Several institutional investors have **significantly increased** their stakes in Consolidated Edison, with **JPMorgan Chase & Co.** raising its stake by **106.9%** and **Deutsche Bank AG** by **130.6%** during the same quarter.
• Consolidated Edison is set to pay a quarterly dividend of **$0.85 per share** on **December 15th**, indicating an annual yield of **3.4%** based on a payout ratio of **61.71%**.

Stratos Wealth Partners LTD. increased its holdings in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 115.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,807 shares of the utilities provider's stock after buying an additional 12,754 shares during the quarter. Stratos Wealth Partners LTD.'s holdings in Consolidated Edison were worth $2,389,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ED. ATLAS Infrastructure Partners UK Ltd. acquired a new stake in Consolidated Edison during the 1st quarter worth $254,205,000. Deutsche Bank AG raised its stake in shares of Consolidated Edison by 130.6% in the 1st quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider's stock valued at $434,266,000 after purchasing an additional 2,223,959 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Consolidated Edison by 106.9% in the 1st quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider's stock valued at $308,643,000 after purchasing an additional 1,441,785 shares during the period. Nuveen LLC acquired a new stake in shares of Consolidated Edison in the 1st quarter valued at about $146,073,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Consolidated Edison by 215.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,688,480 shares of the utilities provider's stock valued at $186,730,000 after purchasing an additional 1,152,892 shares during the period. Institutional investors and hedge funds own 66.29% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on ED shares. Evercore ISI started coverage on Consolidated Edison in a research note on Tuesday, October 7th. They issued an "in-line" rating and a $106.00 price target on the stock. KeyCorp lifted their price target on Consolidated Edison from $88.00 to $90.00 and gave the company an "underweight" rating in a research note on Wednesday. Bank of America downgraded Consolidated Edison from a "buy" rating to an "underperform" rating and dropped their price target for the company from $112.00 to $101.00 in a research note on Friday, August 15th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Consolidated Edison in a research report on Wednesday, October 8th. Finally, Barclays lifted their target price 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 analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, Consolidated Edison presently has a consensus rating of "Reduce" and a consensus price target of $105.92.

Consolidated Edison Trading Up 0.1%

Shares of ED stock opened at $101.14 on Monday. 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 stock has a market cap of $36.48 billion, a P/E ratio of 18.36, a price-to-earnings-growth ratio of 2.82 and a beta of 0.32. The stock has a 50 day simple moving average of $99.41 and a 200 day simple moving average of $102.69. Consolidated Edison Inc has a 1 year low of $87.28 and a 1 year high of $114.87.

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, beating the consensus estimate of $0.66 by $0.01. The business had revenue of $3.60 billion during 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 previous year, the company posted $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, research analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.4%. The ex-dividend date is Wednesday, November 19th. Consolidated Edison's payout ratio 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.