Tectonic Advisors LLC Grows Position in Consolidated Edison Inc $ED

Key Points

• Tectonic Advisors LLC increased its holdings in Consolidated Edison by 9.2%, purchasing an additional 6,754 shares during the second quarter, bringing their total to 79,883 shares valued at approximately $8.02 million.
• Recent analyst reports show a mixed outlook for Consolidated Edison, with target prices ranging from $101 to $112 and ratings from "buy" to "underperform." The consensus rating is currently "Hold" with an average price target of $105.75.
• Consolidated Edison announced a quarterly dividend of $0.85 per share, translating to an annual yield of 3.4%, with a current dividend payout ratio of 61.71%.

Tectonic Advisors LLC raised its position in Consolidated Edison Inc (NYSE:ED - Free Report) by 9.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,883 shares of the utilities provider's stock after purchasing an additional 6,754 shares during the quarter. Tectonic Advisors LLC's holdings in Consolidated Edison were worth $8,016,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ED. Alpine Bank Wealth Management purchased a new position in shares of Consolidated Edison in the 1st quarter worth about $32,000. Fort Vancouver Investment Management LLC acquired a new stake in shares of Consolidated Edison in the first quarter valued at about $33,000. Financial Network Wealth Advisors LLC acquired a new stake in shares of Consolidated Edison in the first quarter valued at about $33,000. Cary Street Partners Investment Advisory LLC grew its stake 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 buying an additional 120 shares in the last quarter. Finally, Elite Financial Inc. acquired a new stake in shares of Consolidated Edison in the first quarter valued at about $38,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ED. Scotiabank increased their target price on Consolidated Edison from $101.00 to $106.00 and gave the company a "sector perform" rating in a research note on Monday, August 11th. Evercore ISI began coverage on Consolidated Edison in a research note on Tuesday. They issued an "in-line" rating and a $106.00 target price for the company. Bank of America lowered Consolidated Edison from a "buy" rating to an "underperform" rating and lowered their target price for the company from $112.00 to $101.00 in a research note on Friday, August 15th. New Street Research set a $106.00 target price on Consolidated Edison in a research note on Monday. Finally, Mizuho raised their price objective on Consolidated Edison from $107.00 to $112.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $105.75.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $100.80 on Thursday. Consolidated Edison Inc has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The business has a 50 day moving average price of $99.83 and a two-hundred day moving average price of $103.13. 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 firm has a market cap of $36.35 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 2.78 and a beta of 0.32.

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 for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.39 billion. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.During the same quarter last year, the firm earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Sell-side analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th were given a $0.85 dividend. The ex-dividend date was Wednesday, August 13th. This represents a $3.40 annualized dividend and a dividend yield of 3.4%. 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.

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