Live Oak Investment Partners Takes Position in Consolidated Edison Inc $ED

Live Oak Investment Partners bought a new position in Consolidated Edison Inc (NYSE:ED) during the 3rd quarter, Holdings Channel reports. The firm bought 5,661 shares of the utilities provider’s stock, valued at approximately $569,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ED. Salomon & Ludwin LLC boosted its stake in Consolidated Edison by 270.4% in the third quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 219 shares in the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of Consolidated Edison by 53.2% in the second quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock valued at $32,000 after buying an additional 109 shares during the last quarter. Bogart Wealth LLC lifted 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 worth $37,000 after buying an additional 328 shares in the last quarter. SJS Investment Consulting Inc. grew its holdings 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 worth $39,000 after acquiring an additional 369 shares during the last quarter. Finally, True Wealth Design LLC increased its position in Consolidated Edison by 392.1% in the 3rd quarter. True Wealth Design LLC now owns 497 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 396 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ED has been the subject of several research analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a research report on Monday, December 29th. Royal Bank Of Canada started coverage on Consolidated Edison in a report on Wednesday, January 7th. They issued a “sector perform” rating and a $114.00 price target on the stock. UBS Group lifted their price objective on Consolidated Edison from $104.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. Barclays cut their target price on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a research report on Monday, November 10th. Finally, New Street Research set a $106.00 price target on shares of Consolidated Edison in a research report on Monday, October 6th. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, Consolidated Edison presently has an average rating of “Reduce” and an average price target of $103.53.

Insider Buying and Selling

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $96.89, for a total value of $220,521.64. Following the completion of the sale, the director owned 38,661 shares of the company’s stock, valued at approximately $3,745,864.29. This represents a 5.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Consolidated Edison Trading Up 1.0%

NYSE:ED opened at $102.46 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.97 and a debt-to-equity ratio of 1.03. Consolidated Edison Inc has a 1-year low of $90.02 and a 1-year high of $114.87. The firm has a market capitalization of $36.98 billion, a price-to-earnings ratio of 17.91, a PEG ratio of 2.77 and a beta of 0.39. The business’s 50-day moving average price is $99.18 and its two-hundred day moving average price is $99.79.

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

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.