2,198 Shares in Consolidated Edison Inc $ED Acquired by Biltmore Family Office LLC

Biltmore Family Office LLC purchased a new stake in Consolidated Edison Inc (NYSE:ED) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 2,198 shares of the utilities provider’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. New York Life Investment Management LLC boosted its position in Consolidated Edison by 6.3% in the 2nd quarter. New York Life Investment Management LLC now owns 49,055 shares of the utilities provider’s stock valued at $4,923,000 after buying an additional 2,925 shares during the period. Howard Capital Management Inc. boosted its position in Consolidated Edison by 28.7% in the 2nd quarter. Howard Capital Management Inc. now owns 2,393 shares of the utilities provider’s stock valued at $240,000 after buying an additional 533 shares during the period. Rossby Financial LCC boosted its position in Consolidated Edison by 10.5% in the 2nd quarter. Rossby Financial LCC now owns 3,899 shares of the utilities provider’s stock valued at $391,000 after buying an additional 369 shares during the period. Teacher Retirement System of Texas boosted its position in Consolidated Edison by 8.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 54,699 shares of the utilities provider’s stock valued at $5,489,000 after buying an additional 4,052 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in Consolidated Edison in the 2nd quarter valued at approximately $24,740,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of ED opened at $98.62 on Wednesday. The firm’s fifty day simple moving average is $99.19 and its 200-day simple moving average is $102.39. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $35.57 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 2.79 and a beta of 0.32.

Consolidated Edison (NYSE:ED) last announced its quarterly 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. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period last year, the business earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business 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 dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.4%. The ex-dividend date is Wednesday, November 19th. Consolidated Edison’s dividend payout ratio (DPR) is currently 61.71%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ED shares. New Street Research set a $106.00 price target on shares of Consolidated Edison in a research report on Monday, October 6th. Evercore ISI started coverage on shares of Consolidated Edison in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 price target for the company. Morgan Stanley raised their price target on shares of Consolidated Edison from $93.00 to $100.00 and gave the company an “underweight” rating in a research report on Wednesday, October 22nd. Wells Fargo & Company started coverage on shares of Consolidated Edison in a research report on Monday. They issued an “equal weight” rating and a $99.00 price target for the company. Finally, KeyCorp raised their price target on shares of Consolidated Edison from $88.00 to $90.00 and gave the company an “underweight” rating in a research report on Wednesday, October 15th. Three equities research 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 target price of $105.08.

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.