Consolidated Edison Inc $ED Stock Holdings Increased by Howard Capital Management Inc.

Howard Capital Management Inc. boosted its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 28.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,393 shares of the utilities provider’s stock after acquiring an additional 533 shares during the quarter. Howard Capital Management Inc.’s holdings in Consolidated Edison were worth $240,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ED. Revolve Wealth Partners LLC raised its position in Consolidated Edison by 13.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock valued at $332,000 after acquiring an additional 441 shares in the last quarter. KBC Group NV raised its position in Consolidated Edison by 7.7% during the first quarter. KBC Group NV now owns 49,655 shares of the utilities provider’s stock valued at $5,491,000 after acquiring an additional 3,560 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Consolidated Edison by 1.5% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 49,811 shares of the utilities provider’s stock valued at $5,509,000 after acquiring an additional 713 shares in the last quarter. Rossby Financial LCC raised its position in Consolidated Edison by 41.8% during the first quarter. Rossby Financial LCC now owns 3,530 shares of the utilities provider’s stock valued at $390,000 after acquiring an additional 1,040 shares in the last quarter. Finally, Pinnacle Financial Partners Inc bought a new position in Consolidated Edison during the first quarter valued at approximately $256,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of Consolidated Edison stock opened at $98.19 on Friday. The firm has a fifty day moving average price of $99.03 and a two-hundred day moving average price of $102.28. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01. The company has a market cap of $35.41 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 2.70 and a beta of 0.32. Consolidated Edison Inc has a fifty-two week low of $87.28 and a fifty-two week high of $114.87.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. The firm had revenue of $3.60 billion during 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 quarter in the prior year, the firm posted $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th will be paid a dividend of $0.85 per share. The ex-dividend date is Wednesday, November 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.5%. Consolidated Edison’s payout ratio is currently 61.71%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ED. KeyCorp raised their price objective 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. Barclays cut their price objective on shares of Consolidated Edison from $107.00 to $105.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 21st. Wells Fargo & Company upgraded Consolidated Edison to a “hold” rating in a report on Tuesday. Bank of America downgraded Consolidated Edison from a “buy” rating to an “underperform” rating and lowered their price target for the company from $112.00 to $101.00 in a report on Friday, August 15th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $105.08.

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.