Joseph P. Lucia & Associates LLC Has $777,000 Position in Consolidated Edison Inc $ED

Joseph P. Lucia & Associates LLC lowered its position in Consolidated Edison Inc (NYSE:EDFree Report) by 11.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,741 shares of the utilities provider’s stock after selling 1,015 shares during the quarter. Joseph P. Lucia & Associates LLC’s holdings in Consolidated Edison were worth $777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Consolidated Edison Price Performance

Consolidated Edison stock opened at $101.14 on Friday. The stock has a market capitalization of $36.48 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 2.82 and a beta of 0.32. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week high of $114.87. The stock’s 50 day moving average price is $99.41 and its two-hundred day moving average price is $102.76. 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 (NYSE:EDGet Free Report) last posted its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.During the same period in the prior year, the business earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, equities analysts predict that Consolidated Edison Inc will post 5.62 earnings per share 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 dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, November 19th. Consolidated Edison’s dividend payout ratio is presently 61.71%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ED. Barclays upped their target price on Consolidated Edison from $101.00 to $107.00 and gave the company an “underweight” rating in a report on Wednesday, August 13th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a report on Wednesday, October 8th. KeyCorp upped their target price on Consolidated Edison from $88.00 to $90.00 and gave the company an “underweight” rating in a report on Wednesday. Scotiabank upped their target price on Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a report on Monday, August 11th. Finally, Evercore ISI began coverage on Consolidated Edison in a report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 target price on the stock. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $105.92.

Check Out Our Latest Report on ED

Consolidated Edison 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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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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