Apollon Wealth Management LLC Grows Stock Holdings in Consolidated Edison Inc $ED

Apollon Wealth Management LLC boosted its position in Consolidated Edison Inc (NYSE:ED) by 41.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 10,570 shares of the utilities provider’s stock after acquiring an additional 3,120 shares during the period. Apollon Wealth Management LLC’s holdings in Consolidated Edison were worth $1,061,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ED. Bey Douglas LLC increased its stake in Consolidated Edison by 31.4% during the 2nd quarter. Bey Douglas LLC now owns 2,428 shares of the utilities provider’s stock worth $244,000 after buying an additional 580 shares during the period. Trust Co. of Toledo NA OH acquired a new position in Consolidated Edison during the 2nd quarter valued at about $120,000. JNBA Financial Advisors acquired a new stake in shares of Consolidated Edison in the 2nd quarter worth approximately $80,000. Aberdeen Group plc lifted its stake in shares of Consolidated Edison by 11.5% in the 2nd quarter. Aberdeen Group plc now owns 512,548 shares of the utilities provider’s stock worth $51,434,000 after acquiring an additional 53,064 shares during the period. Finally, Blue Trust Inc. lifted its stake in Consolidated Edison by 18.7% during the second quarter. Blue Trust Inc. now owns 3,889 shares of the utilities provider’s stock valued at $390,000 after purchasing an additional 614 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ED shares. KeyCorp restated an “overweight” rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Barclays upped their price objective on shares of Consolidated Edison from $101.00 to $107.00 and gave the stock an “underweight” rating in a report on Wednesday, August 13th. Weiss Ratings reissued a “buy (b-)” rating on shares of Consolidated Edison in a report on Wednesday, October 8th. Evercore ISI assumed coverage on shares of Consolidated Edison in a research note on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 price objective for the company. Finally, Mizuho increased their price target on Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $105.75.

Consolidated Edison Price Performance

NYSE:ED opened at $101.95 on Wednesday. The firm’s fifty day moving average price is $99.60 and its two-hundred day moving average price is $102.94. The company has a market cap of $36.77 billion, a P/E ratio of 18.50, a P/E/G ratio of 2.80 and a beta of 0.32. Consolidated Edison Inc has a one year low of $87.28 and a one year high of $114.87. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.01. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same quarter in the prior year, the business posted $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Wednesday, August 13th. Consolidated Edison’s dividend payout ratio is currently 61.71%.

About Consolidated Edison

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.