Ascent Group LLC Has $586,000 Stake in Consolidated Edison Inc $ED

Ascent Group LLC grew its holdings in Consolidated Edison Inc (NYSE:ED) by 107.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 5,844 shares of the utilities provider’s stock after acquiring an additional 3,029 shares during the quarter. Ascent Group LLC’s holdings in Consolidated Edison were worth $586,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Exchange Traded Concepts LLC lifted its holdings in shares of Consolidated Edison by 1.0% during the second quarter. Exchange Traded Concepts LLC now owns 11,050 shares of the utilities provider’s stock worth $1,109,000 after buying an additional 109 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Consolidated Edison by 1.3% in the second quarter. Farther Finance Advisors LLC now owns 8,896 shares of the utilities provider’s stock worth $893,000 after acquiring an additional 110 shares during the last quarter. Western Wealth Management LLC increased its position 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 acquiring an additional 116 shares during the period. Eastern Bank raised its stake in Consolidated Edison by 2.9% during the 1st quarter. Eastern Bank now owns 4,294 shares of the utilities provider’s stock valued at $475,000 after purchasing an additional 120 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC boosted its holdings in 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 valued at $34,000 after purchasing an additional 120 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Mizuho boosted their price objective on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a research note on Saturday, September 27th. Scotiabank raised their price objective 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. KeyCorp restated an “overweight” rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Finally, New Street Research set a $106.00 target price on Consolidated Edison in a research note on Monday. Four research 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $105.92.

Consolidated Edison Trading Up 0.5%

ED stock opened at $99.28 on Tuesday. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year high of $114.87. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The business’s 50 day moving average is $99.91 and its 200-day moving average is $103.17. The firm has a market cap of $35.81 billion, a P/E ratio of 18.02, a P/E/G ratio of 2.75 and a beta of 0.32.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 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 for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the previous year, the firm earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Wednesday, August 13th were given a dividend of $0.85 per share. The ex-dividend date was Wednesday, August 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.4%. Consolidated Edison’s dividend payout ratio (DPR) is 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.