Quotient Wealth Partners LLC Has $396,000 Position in Consolidated Edison Inc $ED

Quotient Wealth Partners LLC increased its stake in Consolidated Edison Inc (NYSE:ED) by 3.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,943 shares of the utilities provider’s stock after purchasing an additional 132 shares during the quarter. Quotient Wealth Partners LLC’s holdings in Consolidated Edison were worth $396,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ED. Alpine Bank Wealth Management acquired a new position in shares of Consolidated Edison during the first quarter worth approximately $32,000. Capital Advisors Ltd. LLC raised its stake in Consolidated Edison by 53.2% during the second quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 109 shares in the last quarter. Fort Vancouver Investment Management LLC acquired a new position in Consolidated Edison during the first quarter worth $33,000. Financial Network Wealth Advisors LLC acquired a new position in Consolidated Edison during the first quarter worth $33,000. Finally, Cary Street Partners Investment Advisory LLC grew its holdings in shares of Consolidated Edison by 64.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 120 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ED shares. Scotiabank raised their price target on Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a report on Monday, August 11th. Morgan Stanley dropped their price target on Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating on the stock in a research report on Thursday, September 25th. KeyCorp raised their price target on Consolidated Edison from $88.00 to $90.00 and gave the stock an “underweight” rating in a research report on Wednesday. Barclays lifted their target price on Consolidated Edison from $101.00 to $107.00 and gave the company an “underweight” rating in a research report on Wednesday, August 13th. Finally, New Street Research set a $106.00 target price on Consolidated Edison in a research report on Monday, October 6th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Consolidated Edison presently has an average rating of “Reduce” and a consensus price target of $105.92.

Consolidated Edison Stock Performance

Shares of NYSE ED opened at $101.14 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87. The stock has a 50 day moving average of $99.41 and a 200-day moving average of $102.76. The company has a market capitalization of $36.48 billion, a P/E ratio of 18.36, a P/E/G ratio of 2.82 and a beta of 0.32.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate 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 previous year, the company posted $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, equities research analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Wednesday, November 19th will be paid a $0.85 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $3.40 annualized dividend and a yield of 3.4%. Consolidated Edison’s payout ratio is 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.