Consolidated Edison Inc $ED Shares Bought by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 3.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,932 shares of the utilities provider’s stock after purchasing an additional 254 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Consolidated Edison were worth $696,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Hilltop National Bank purchased a new position in Consolidated Edison during the 2nd quarter worth $102,000. ASR Vermogensbeheer N.V. boosted its holdings in Consolidated Edison by 15.8% in the second quarter. ASR Vermogensbeheer N.V. now owns 101,139 shares of the utilities provider’s stock worth $10,149,000 after acquiring an additional 13,791 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Consolidated Edison by 103.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,327,643 shares of the utilities provider’s stock worth $133,229,000 after acquiring an additional 675,852 shares during the last quarter. USA Financial Formulas increased its holdings in shares of Consolidated Edison by 12.7% during the second quarter. USA Financial Formulas now owns 2,035 shares of the utilities provider’s stock valued at $204,000 after acquiring an additional 229 shares in the last quarter. Finally, Dogwood Wealth Management LLC raised its position in shares of Consolidated Edison by 1,573.7% in the 2nd quarter. Dogwood Wealth Management LLC now owns 3,883 shares of the utilities provider’s stock valued at $386,000 after purchasing an additional 3,651 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ED shares. Scotiabank boosted their target price on shares of Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Monday, August 11th. Mizuho boosted their price objective on shares of Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a report on Friday, August 8th. KeyCorp reissued an “overweight” rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Barclays lifted their price target on Consolidated Edison from $101.00 to $107.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 13th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a research note on Saturday, September 27th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $105.91.

Consolidated Edison Price Performance

NYSE:ED opened at $98.83 on Monday. The firm’s fifty day moving average is $99.95 and its two-hundred day moving average is $103.23. The firm has a market cap of $35.64 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 2.75 and a beta of 0.32. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. Consolidated Edison Inc has a one year low of $87.28 and a one year high of $114.87.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data 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 analysts’ expectations 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. Research analysts expect 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 was paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Wednesday, August 13th. Consolidated Edison’s payout ratio 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.