Candriam S.C.A. Purchases 2,074 Shares of Consolidated Edison Inc $ED

Candriam S.C.A. increased its position in shares of Consolidated Edison Inc (NYSE:ED) by 2.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,146 shares of the utilities provider’s stock after acquiring an additional 2,074 shares during the period. Candriam S.C.A.’s holdings in Consolidated Edison were worth $8,143,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Capital Advisors Ltd. LLC lifted its stake in Consolidated Edison by 53.2% during 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. Financial Network Wealth Advisors LLC acquired a new position in shares of Consolidated Edison during the 1st quarter worth $33,000. Cary Street Partners Investment Advisory LLC lifted its position in shares of Consolidated Edison by 64.9% during 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 during the last quarter. Bogart Wealth LLC lifted its position in shares of Consolidated Edison by 886.5% during the 2nd quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock worth $37,000 after buying an additional 328 shares during the last quarter. Finally, SJS Investment Consulting Inc. boosted its stake in Consolidated Edison by 1,677.3% in the second quarter. SJS Investment Consulting Inc. now owns 391 shares of the utilities provider’s stock valued at $39,000 after buying an additional 369 shares in the last quarter. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Trading Up 0.6%

ED opened at $101.60 on Friday. 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 Inc has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The company’s 50 day moving average price is $98.97 and its two-hundred day moving average price is $101.27. The firm has a market capitalization of $36.67 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 2.70 and a beta of 0.32.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.14. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same quarter last year, the firm earned $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. As a group, research analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, November 19th. Consolidated Edison’s payout ratio is 59.44%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ED. Morgan Stanley boosted their target price on Consolidated Edison from $93.00 to $100.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 22nd. Scotiabank lifted their price target on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a report on Monday, August 11th. Barclays lowered their price objective on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a research report on Monday, November 10th. Wells Fargo & Company upgraded shares of Consolidated Edison to a “hold” rating in a research report on Tuesday, October 28th. Finally, Bank of America cut shares of Consolidated Edison from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $112.00 to $101.00 in a research note on Friday, August 15th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, Consolidated Edison presently has an average rating of “Reduce” and an average price target of $104.75.

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.