Waycross Partners LLC Makes New $362,000 Investment in Consolidated Edison Inc $ED

Key Points

• Waycross Partners LLC has made a new investment of approximately $362,000 in Consolidated Edison Inc, acquiring a total of 3,604 shares during the second quarter.
• Consolidated Edison recently reported a quarterly EPS of $0.67, beating the consensus estimate of $0.66, with revenue reaching $3.60 billion compared to expectations of $3.39 billion.
• Analysts have mixed ratings on Consolidated Edison, with three "Buy" ratings and a consensus target price of $105.82, reflecting a cautious market outlook.

Waycross Partners LLC bought a new position in Consolidated Edison Inc (NYSE:ED - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,604 shares of the utilities provider's stock, valued at approximately $362,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Forte Capital LLC ADV grew its holdings in shares of Consolidated Edison by 2.6% in the second quarter. Forte Capital LLC ADV now owns 20,075 shares of the utilities provider's stock worth $2,015,000 after acquiring an additional 509 shares during the period. SJS Investment Consulting Inc. grew its holdings in shares of Consolidated Edison by 1,677.3% in the second quarter. SJS Investment Consulting Inc. now owns 391 shares of the utilities provider's stock worth $39,000 after acquiring an additional 369 shares during the period. Revisor Wealth Management LLC grew its holdings in shares of Consolidated Edison by 5.1% in the second quarter. Revisor Wealth Management LLC now owns 4,315 shares of the utilities provider's stock worth $437,000 after acquiring an additional 209 shares during the period. Fortitude Family Office LLC grew its holdings in shares of Consolidated Edison by 155.8% in the second quarter. Fortitude Family Office LLC now owns 532 shares of the utilities provider's stock worth $53,000 after acquiring an additional 324 shares during the period. Finally, Occidental Asset Management LLC bought a new stake in shares of Consolidated Edison in the second quarter worth $991,000. Institutional investors own 66.29% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on ED shares. KeyCorp reaffirmed an "overweight" rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Scotiabank lifted their price objective on Consolidated Edison from $101.00 to $106.00 and gave the stock a "sector perform" rating in a report on Monday, August 11th. Barclays lifted their price objective on Consolidated Edison from $101.00 to $107.00 and gave the stock an "underweight" rating in a report on Wednesday, August 13th. Mizuho boosted their price target on Consolidated Edison from $107.00 to $112.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Finally, Morgan Stanley reissued an "underweight" rating on shares of Consolidated Edison in a report on Thursday, August 21st. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $105.82.

Consolidated Edison Stock Performance

NYSE:ED opened at $98.50 on Wednesday. The stock has a 50-day simple moving average of $100.41 and a two-hundred day simple moving average of $103.65. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week high of $114.87. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. The firm has a market capitalization of $35.52 billion, a PE ratio of 17.88, a P/E/G ratio of 2.69 and a beta of 0.28.

Consolidated Edison (NYSE:ED - Get Free Report) last released 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. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same quarter 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. Analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Wednesday, August 13th. Consolidated Edison's payout ratio 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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