5,322 Shares in Consolidated Edison Inc $ED Acquired by TriaGen Wealth Management LLC

Key Points

• TriaGen Wealth Management LLC has acquired a new position in Consolidated Edison Inc, purchasing 5,322 shares valued at approximately $589,000 in the 1st quarter.
• Analysts have revised their price objectives for Consolidated Edison, with Guggenheim raising its target from $96 to $103, while others like Barclays set a lower target of $107.
• Consolidated Edison has declared a quarterly dividend of $0.85, which will yield 3.4%, with the ex-dividend date set for August 13th.

TriaGen Wealth Management LLC acquired a new position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,322 shares of the utilities provider's stock, valued at approximately $589,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Glen Eagle Advisors LLC lifted its position in shares of Consolidated Edison by 6.2% during the 4th quarter. Glen Eagle Advisors LLC now owns 1,902 shares of the utilities provider's stock worth $170,000 after buying an additional 111 shares during the last quarter. Western Wealth Management LLC grew its stake in Consolidated Edison by 0.7% during the first quarter. Western Wealth Management LLC now owns 16,101 shares of the utilities provider's stock worth $1,781,000 after purchasing an additional 116 shares during the period. Eastern Bank boosted its holdings in 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 acquiring an additional 120 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised 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 worth $34,000 after purchasing an additional 120 shares during the last quarter. Finally, Integrated Advisors Network LLC lifted its stake in Consolidated Edison by 1.6% during the 1st 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. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Trading Up 0.6%

NYSE:ED traded up $0.5850 during mid-day trading on Wednesday, reaching $101.6850. 3,216,438 shares of the company's stock traded hands, compared to its average volume of 2,750,939. Consolidated Edison Inc has a 12-month low of $87.28 and a 12-month high of $114.87. The firm has a market capitalization of $36.67 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 2.77 and a beta of 0.24. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01. The company has a 50 day moving average price of $101.65 and a 200-day moving average price of $103.63.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the previous year, the business earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, sell-side analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th will be issued a dividend of $0.85 per share. The ex-dividend date is Wednesday, August 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.3%. Consolidated Edison's dividend payout ratio is 61.71%.

Wall Street Analysts Forecast Growth

Several research firms have commented on ED. Bank of America cut shares of Consolidated Edison from a "buy" rating to an "underperform" rating and dropped their target price for the stock from $112.00 to $101.00 in a research report on Friday, August 15th. Barclays raised their target price on Consolidated Edison from $101.00 to $107.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 13th. Scotiabank raised their target price on Consolidated Edison from $101.00 to $106.00 and gave the stock a "sector perform" rating in a research report on Monday, August 11th. Guggenheim lifted their price target on Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Finally, Mizuho lifted 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. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $105.82.

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.