Live Oak Investment Partners Buys Shares of 5,661 Consolidated Edison Inc $ED

Live Oak Investment Partners purchased a new position in shares of Consolidated Edison Inc (NYSE:ED) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 5,661 shares of the utilities provider’s stock, valued at approximately $569,000.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Consolidated Edison during the second quarter valued at $462,218,000. Vanguard Group Inc. increased its position in Consolidated Edison by 4.5% in the second quarter. Vanguard Group Inc. now owns 45,040,811 shares of the utilities provider’s stock worth $4,519,845,000 after buying an additional 1,923,717 shares in the last quarter. Qube Research & Technologies Ltd raised its stake in shares of Consolidated Edison by 2,190.9% in the second quarter. Qube Research & Technologies Ltd now owns 978,160 shares of the utilities provider’s stock worth $98,158,000 after buying an additional 935,463 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in shares of Consolidated Edison by 103.7% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,327,643 shares of the utilities provider’s stock valued at $133,229,000 after buying an additional 675,852 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Consolidated Edison by 6.1% during the 2nd quarter. Geode Capital Management LLC now owns 9,796,782 shares of the utilities provider’s stock valued at $979,204,000 after acquiring an additional 566,358 shares during the period. Institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

ED has been the subject of several analyst reports. TD Cowen assumed coverage on shares of Consolidated Edison in a report on Friday, January 9th. They issued a “hold” rating and a $105.00 target price for the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a research report on Monday, December 29th. Evercore ISI initiated coverage on shares of Consolidated Edison in a research report on Tuesday, October 7th. They set an “in-line” rating and a $106.00 price objective on the stock. Morgan Stanley set a $92.00 target price on shares of Consolidated Edison in a research note on Tuesday, December 16th. Finally, Cowen began coverage on shares of Consolidated Edison in a report on Thursday, January 8th. They issued a “hold” rating for the company. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $103.27.

Consolidated Edison Trading Up 1.2%

Consolidated Edison stock opened at $103.83 on Tuesday. Consolidated Edison Inc has a 1 year low of $90.35 and a 1 year high of $114.87. The firm’s 50 day moving average price is $99.40 and its 200-day moving average price is $99.83. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.08 and a quick ratio of 0.97. The stock has a market cap of $37.48 billion, a P/E ratio of 18.15, a PEG ratio of 2.83 and a beta of 0.39.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.14. The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.22 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.79%. During the same quarter in the prior year, the business earned $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, equities analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Consolidated Edison

In other news, Director John F. Killian sold 2,276 shares of the firm’s 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 completion of the transaction, the director owned 38,661 shares in the company, valued at $3,745,864.29. This trade represents a 5.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.17% of the stock is currently owned by insiders.

Consolidated Edison 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.