Sagespring Wealth Partners LLC Raises Holdings in Consolidated Edison Inc $ED

Sagespring Wealth Partners LLC boosted its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 23.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,859 shares of the utilities provider’s stock after acquiring an additional 1,106 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Consolidated Edison were worth $588,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Alpine Bank Wealth Management purchased a new position in Consolidated Edison during the first quarter valued at approximately $32,000. Fort Vancouver Investment Management LLC purchased a new position in Consolidated Edison in the first quarter worth $33,000. Financial Network Wealth Advisors LLC purchased a new position in Consolidated Edison in the first quarter worth $33,000. Cary Street Partners Investment Advisory LLC grew its holdings in Consolidated Edison by 64.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 120 shares during the last quarter. Finally, Capital Advisors Ltd. LLC grew its holdings 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 during the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ED has been the topic of several analyst reports. KeyCorp lifted their price target on shares of Consolidated Edison from $88.00 to $90.00 and gave the stock an “underweight” rating in a report on Wednesday. Barclays lifted their price target on shares of Consolidated Edison from $101.00 to $107.00 and gave the stock an “underweight” rating in a report on Wednesday, August 13th. Morgan Stanley cut their price target on shares of Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating on the stock in a report on Thursday, September 25th. Evercore ISI initiated coverage on shares of Consolidated Edison in a research note on Tuesday, October 7th. They set an “in-line” rating and a $106.00 price objective for the company. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $105.92.

Consolidated Edison Trading Down 1.2%

NYSE:ED opened at $101.05 on Friday. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87. The firm has a fifty day simple moving average of $99.48 and a 200-day simple moving average of $102.87. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $36.44 billion, a P/E ratio of 18.34, a PEG ratio of 2.85 and a beta of 0.32.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.39 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same period in the previous year, the firm posted $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, equities research analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Profile

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.