Chicago Partners Investment Group LLC Purchases 1,315 Shares of Consolidated Edison Inc $ED

Chicago Partners Investment Group LLC lifted its position in Consolidated Edison Inc (NYSE:ED) by 33.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,200 shares of the utilities provider’s stock after acquiring an additional 1,315 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Consolidated Edison were worth $533,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Alpine Bank Wealth Management bought a new stake in shares of Consolidated Edison in the 1st quarter valued at about $32,000. Capital Advisors Ltd. LLC raised its stake in Consolidated Edison by 53.2% in the second 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 position in Consolidated Edison in the first quarter worth approximately $33,000. Financial Network Wealth Advisors LLC bought a new position in shares of Consolidated Edison in the 1st quarter worth $33,000. Finally, Cary Street Partners Investment Advisory LLC raised its position in shares of 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 acquiring an additional 120 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

ED has been the subject of several recent research reports. Bank of America lowered Consolidated Edison from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $112.00 to $101.00 in a research report on Friday, August 15th. Mizuho upped their price target on shares of Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Evercore ISI began coverage on shares of Consolidated Edison in a research note on Tuesday, October 7th. They set an “in-line” rating and a $106.00 price target on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a research note on Wednesday, October 8th. Finally, KeyCorp upped their target price on Consolidated Edison from $88.00 to $90.00 and gave the company an “underweight” rating in a research report on Wednesday, October 15th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $106.33.

Consolidated Edison Stock Up 0.4%

NYSE:ED opened at $101.95 on Thursday. The firm has a market capitalization of $36.77 billion, a P/E ratio of 18.50, a PEG ratio of 2.83 and a beta of 0.32. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year high of $114.87. The company’s fifty day moving average price is $99.29 and its 200-day moving average price is $102.62. 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 released its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share 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 analyst estimates 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 earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, equities research analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Wednesday, November 19th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, November 19th. Consolidated Edison’s dividend payout ratio (DPR) 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.