Live Oak Investment Partners Acquires New Shares in Consolidated Edison Inc $ED

Live Oak Investment Partners acquired 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 institutional investor acquired 5,661 shares of the utilities provider’s stock, valued at approximately $569,000.

Other institutional investors also recently bought and sold shares of the company. Magnus Financial Group LLC lifted its position in shares of Consolidated Edison by 5.0% in the third quarter. Magnus Financial Group LLC now owns 6,193 shares of the utilities provider’s stock worth $622,000 after buying an additional 295 shares during the last quarter. Stephens Inc. AR raised its stake in shares of Consolidated Edison by 0.8% in the 3rd quarter. Stephens Inc. AR now owns 13,791 shares of the utilities provider’s stock valued at $1,386,000 after acquiring an additional 105 shares in the last quarter. Kera Capital Partners Inc. acquired a new stake in Consolidated Edison in the 3rd quarter worth approximately $310,000. Exencial Wealth Advisors LLC boosted its position in Consolidated Edison by 3.1% during the third quarter. Exencial Wealth Advisors LLC now owns 5,162 shares of the utilities provider’s stock worth $519,000 after purchasing an additional 153 shares during the period. Finally, Klingman & Associates LLC raised its position in shares of Consolidated Edison by 46.2% in the third quarter. Klingman & Associates LLC now owns 6,041 shares of the utilities provider’s stock valued at $607,000 after purchasing an additional 1,910 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of Consolidated Edison stock in a transaction on 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ED. Wells Fargo & Company raised shares of Consolidated Edison to a “hold” rating in a report on Tuesday, October 28th. Cowen started coverage on Consolidated Edison in a research note on Thursday, January 8th. They issued a “hold” rating on the stock. KeyCorp cut their price objective on Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating for the company in a research report on Friday, December 12th. Royal Bank Of Canada assumed coverage on Consolidated Edison in a research report on Wednesday, January 7th. They issued a “sector perform” rating and a $114.00 price target on the stock. Finally, Barclays cut their price target on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a report on Monday, November 10th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, Consolidated Edison has a consensus rating of “Reduce” and an average price target of $103.53.

Consolidated Edison Trading Up 1.0%

Shares of Consolidated Edison stock opened at $102.46 on Friday. Consolidated Edison Inc has a 52-week low of $90.02 and a 52-week high of $114.87. The firm has a market capitalization of $36.98 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 2.77 and a beta of 0.39. 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 company’s fifty day moving average price is $99.18 and its two-hundred day moving average price is $99.79.

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, beating the consensus estimate of $1.76 by $0.14. The business had revenue of $4.53 billion for 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 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, analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current year.

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.