Janney Montgomery Scott LLC Has $17.09 Million Position in Consolidated Edison Inc $ED

Janney Montgomery Scott LLC reduced its position in shares of Consolidated Edison Inc (NYSE:ED) by 11.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 170,274 shares of the utilities provider’s stock after selling 22,636 shares during the period. Janney Montgomery Scott LLC’s holdings in Consolidated Edison were worth $17,087,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of ED. ATLAS Infrastructure Partners UK Ltd. acquired a new position in shares of Consolidated Edison during the first quarter worth about $254,205,000. Deutsche Bank AG boosted its position in shares of Consolidated Edison by 130.6% during the first quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider’s stock worth $434,266,000 after buying an additional 2,223,959 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Consolidated Edison by 106.9% during the first quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider’s stock worth $308,643,000 after buying an additional 1,441,785 shares during the period. Nuveen LLC acquired a new position in shares of Consolidated Edison during the first quarter worth about $146,073,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Consolidated Edison by 215.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,688,480 shares of the utilities provider’s stock worth $186,730,000 after buying an additional 1,152,892 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ED shares. Barclays upped their price objective on Consolidated Edison from $101.00 to $107.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 13th. Bank of America cut Consolidated Edison from a “buy” rating to an “underperform” rating and reduced their price target for the company from $112.00 to $101.00 in a research report on Friday, August 15th. KeyCorp reissued an “overweight” rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Morgan Stanley reduced their price target on Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating for the company in a research report on Thursday, September 25th. Finally, Scotiabank increased their price target on Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a research report on Monday, August 11th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $105.91.

Consolidated Edison Stock Performance

ED opened at $97.62 on Friday. Consolidated Edison Inc has a 12-month low of $87.28 and a 12-month high of $114.87. The stock has a market cap of $35.21 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 2.73 and a beta of 0.32. The business has a 50 day moving average of $100.01 and a 200-day moving average of $103.36. 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 (NYSE:ED) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $3.39 billion. During the same period last year, the firm posted $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, equities research analysts expect that Consolidated Edison Inc will post 5.62 earnings per share 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 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Wednesday, August 13th. Consolidated Edison’s dividend payout ratio (DPR) is presently 61.71%.

Consolidated Edison 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.