Wealth Enhancement Advisory Services LLC Purchases 19,381 Shares of Consolidated Edison Inc $ED

Wealth Enhancement Advisory Services LLC grew its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 7.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 295,838 shares of the utilities provider’s stock after buying an additional 19,381 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Consolidated Edison were worth $29,596,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC boosted its position in shares of Consolidated Edison by 13.6% during the second quarter. Golden State Wealth Management LLC now owns 837 shares of the utilities provider’s stock valued at $84,000 after buying an additional 100 shares during the period. Certuity LLC grew its stake in Consolidated Edison by 2.7% in the 2nd quarter. Certuity LLC now owns 3,743 shares of the utilities provider’s stock worth $376,000 after acquiring an additional 100 shares in the last quarter. Stephens Inc. AR increased its position in shares of Consolidated Edison by 0.8% during the third quarter. Stephens Inc. AR now owns 13,791 shares of the utilities provider’s stock worth $1,386,000 after acquiring an additional 105 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of Consolidated Edison by 1.0% in the second quarter. Exchange Traded Concepts LLC now owns 11,050 shares of the utilities provider’s stock valued at $1,109,000 after purchasing an additional 109 shares during the period. Finally, Capital Advisors Ltd. LLC grew 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 purchasing an additional 109 shares in the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Consolidated Edison

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of Consolidated Edison stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $96.89, for a total transaction of $220,521.64. Following the completion of the sale, the director directly owned 38,661 shares in the company, valued at approximately $3,745,864.29. The trade was a 5.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Consolidated Edison Stock Performance

ED stock opened at $105.07 on Wednesday. The firm has a 50-day simple moving average of $99.50 and a two-hundred day simple moving average of $99.87. 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 Inc has a one year low of $90.35 and a one year high of $114.87. The firm has a market cap of $37.92 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 2.83 and a beta of 0.39.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.14. The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate 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 business earned $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, equities analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Analyst Ratings Changes

ED has been the subject of a number of research analyst reports. TD Cowen assumed coverage on Consolidated Edison in a research report on Friday, January 9th. They set a “hold” rating and a $105.00 target price for the company. Wells Fargo & Company decreased their price objective on Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating for the company in a report on Tuesday. New Street Research set a $106.00 price objective on shares of Consolidated Edison in a research note on Monday, October 6th. JPMorgan Chase & Co. cut their target price on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating on the stock in a research report on Friday, December 12th. Finally, Barclays reduced their price target on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a report on Monday, November 10th. Three equities research 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. Based on data from MarketBeat, Consolidated Edison currently has an average rating of “Reduce” and an average price target of $103.27.

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.