Resonant Capital Advisors LLC Invests $208,000 in Consolidated Edison Inc $ED

by · The Markets Daily

Resonant Capital Advisors LLC bought a new position in Consolidated Edison Inc (NYSE:ED – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,071 shares of the utilities provider’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ED. Capital Advisors Ltd. LLC boosted its stake in Consolidated Edison by 53.2% during the second quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock valued at $32,000 after buying an additional 109 shares during the period. Fort Vancouver Investment Management LLC bought a new position in shares of Consolidated Edison in the first quarter worth approximately $33,000. Financial Network Wealth Advisors LLC purchased a new stake in Consolidated Edison in the first quarter valued at approximately $33,000. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Consolidated Edison by 64.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock worth $34,000 after buying an additional 120 shares during the last quarter. Finally, Bogart Wealth LLC raised its position in shares of Consolidated Edison by 886.5% during the 2nd quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock valued at $37,000 after buying an additional 328 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

NYSE:ED opened at $98.62 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87. The stock has a market cap of $35.57 billion, a P/E ratio of 17.90, a price-to-earnings-growth ratio of 2.79 and a beta of 0.32. The firm’s fifty day simple moving average is $99.19 and its 200 day simple moving average is $102.39.

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, beating 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 firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the previous year, the firm posted $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, research analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be given a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.4%. Consolidated Edison’s dividend payout ratio is currently 61.71%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Morgan Stanley upped their target price on shares of Consolidated Edison from $93.00 to $100.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 22nd. 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 target price for the company. Barclays reduced their target price on shares of Consolidated Edison from $107.00 to $105.00 and set an “underweight” rating on the stock in a report on Tuesday, October 21st. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a report on Wednesday, October 8th. Finally, New Street Research set a $106.00 price target on Consolidated Edison in a research report on Monday, October 6th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $105.08.

Read Our Latest Analysis on Consolidated Edison

Consolidated Edison Company Profile

(Free Report)

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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