Park Avenue Securities LLC Buys Shares of 23,709 Consolidated Edison Inc $ED

Park Avenue Securities LLC bought a new position in Consolidated Edison Inc (NYSE:ED) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 23,709 shares of the utilities provider’s stock, valued at approximately $2,383,000.

A number of other institutional investors have also modified their holdings of ED. Salomon & Ludwin LLC raised its stake in shares of Consolidated Edison by 270.4% during the 3rd quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 219 shares in the last quarter. Capital Advisors Ltd. LLC grew its holdings 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 purchasing an additional 109 shares during the last quarter. Bogart Wealth LLC grew its holdings in Consolidated Edison by 886.5% in the second quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 328 shares during the last quarter. SJS Investment Consulting Inc. increased its position in shares of Consolidated Edison by 1,677.3% during the second quarter. SJS Investment Consulting Inc. now owns 391 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 369 shares in the last quarter. Finally, True Wealth Design LLC lifted its holdings in shares of Consolidated Edison by 392.1% during the 3rd quarter. True Wealth Design LLC now owns 497 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 396 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $99.21 on Friday. Consolidated Edison Inc has a 52 week low of $87.28 and a 52 week high of $114.87. The business’s 50 day moving average price is $98.87 and its 200 day moving average price is $99.73. The company has a quick ratio of 0.97, a current ratio of 1.08 and a debt-to-equity ratio of 1.03. The firm has a market cap of $35.81 billion, a P/E ratio of 17.34, a P/E/G ratio of 2.71 and a beta of 0.39.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.76 by $0.14. The business had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.22 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.79%. During the same period in the previous year, the business posted $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, sell-side analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Wednesday, November 19th. Consolidated Edison’s dividend payout ratio is presently 59.44%.

Analysts Set New Price Targets

ED has been the topic of several research analyst reports. New Street Research set a $106.00 target price on Consolidated Edison in a research note on Monday, October 6th. KeyCorp dropped their price target on Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating on the stock in a research note on Friday, December 12th. Barclays cut their price objective on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a report on Monday, November 10th. Cowen assumed coverage on shares of Consolidated Edison in a research report on Thursday. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. cut their price target on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating on the stock in a research note on Friday, December 12th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $103.53.

Insider Buying and Selling

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of the stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $96.89, for a total transaction of $220,521.64. Following the sale, the director directly owned 38,661 shares of the company’s stock, valued at approximately $3,745,864.29. This trade represents a 5.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.19% of the company’s stock.

Consolidated Edison Company Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.