HM Payson & Co. Increases Holdings in Consolidated Edison Inc $ED

HM Payson & Co. grew its holdings in Consolidated Edison Inc (NYSE:ED) by 836.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 11,196 shares of the utilities provider’s stock after buying an additional 10,000 shares during the quarter. HM Payson & Co.’s holdings in Consolidated Edison were worth $1,125,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Capital Advisors Ltd. LLC lifted 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 acquiring an additional 109 shares during the period. Bogart Wealth LLC increased its position in Consolidated Edison by 886.5% during the 2nd quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 328 shares during the period. SJS Investment Consulting Inc. increased its position in Consolidated Edison by 1,677.3% during the 2nd quarter. SJS Investment Consulting Inc. now owns 391 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 369 shares during the period. HFM Investment Advisors LLC bought a new position in Consolidated Edison in the 1st quarter worth $52,000. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Consolidated Edison in the 2nd quarter worth about $52,000. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Price Performance

Shares of ED opened at $99.39 on Tuesday. Consolidated Edison Inc has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The firm’s 50-day simple moving average is $98.88 and its two-hundred day simple moving average is $99.83. The stock has a market cap of $35.87 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 2.87 and a beta of 0.37. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.97 and a current ratio of 1.08.

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. The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.22 billion. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.27%.During the same period in the previous year, the firm posted $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

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

Analyst Upgrades and Downgrades

ED has been the topic of several research analyst reports. New Street Research set a $106.00 price target on shares of Consolidated Edison in a research report on Monday, October 6th. Morgan Stanley set a $92.00 price objective on shares of Consolidated Edison in a report on Tuesday, December 16th. KeyCorp reduced their target price on Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating on the stock in a report on Friday, December 12th. Evercore ISI assumed coverage on Consolidated Edison in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 target price for the company. Finally, Wells Fargo & Company upgraded Consolidated Edison to a “hold” rating in a research note on Tuesday, October 28th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $102.54.

Insider Buying and Selling at Consolidated Edison

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

About Consolidated Edison

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.