Balboa Wealth Partners Acquires 1,242 Shares of Consolidated Edison Inc $ED

Balboa Wealth Partners increased its holdings in Consolidated Edison Inc (NYSE:ED) by 54.3% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,528 shares of the utilities provider’s stock after buying an additional 1,242 shares during the quarter. Balboa Wealth Partners’ holdings in Consolidated Edison were worth $354,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Alpine Bank Wealth Management bought a new stake in Consolidated Edison in the 1st quarter worth about $32,000. Capital Advisors Ltd. LLC increased its holdings in Consolidated Edison by 53.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock worth $32,000 after buying an additional 109 shares in the last quarter. Fort Vancouver Investment Management LLC bought a new stake in Consolidated Edison in the 1st quarter worth about $33,000. Financial Network Wealth Advisors LLC bought a new stake in Consolidated Edison in the 1st quarter worth about $33,000. Finally, Cary Street Partners Investment Advisory LLC increased 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 worth $34,000 after buying an additional 120 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Up 0.6%

ED stock opened at $101.76 on Tuesday. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. The stock has a market cap of $36.70 billion, a P/E ratio of 18.47, a PEG ratio of 2.82 and a beta of 0.32. The business’s 50-day moving average price is $99.36 and its 200-day moving average price is $102.64.

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, beating analysts’ consensus estimates of $0.66 by $0.01. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the previous year, the firm earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, equities research analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently disclosed 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 3.3%. The ex-dividend date of this dividend is Wednesday, November 19th. Consolidated Edison’s payout ratio is presently 61.71%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Morgan Stanley reduced their price objective on Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating for the company in a report on Thursday, September 25th. Mizuho boosted their price target on Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. KeyCorp boosted their price target on Consolidated Edison from $88.00 to $90.00 and gave the company an “underweight” rating in a research note on Wednesday, October 15th. New Street Research set a $106.00 price target on Consolidated Edison in a research note on Monday, October 6th. Finally, Evercore ISI assumed coverage on Consolidated Edison in a research note on Tuesday, October 7th. They set an “in-line” rating and a $106.00 price target for the company. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Consolidated Edison currently has an average rating of “Reduce” and a consensus price target of $105.92.

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.