Live Oak Investment Partners Invests $569,000 in Consolidated Edison Inc $ED

Live Oak Investment Partners bought a new stake in shares of Consolidated Edison Inc (NYSE:ED) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,661 shares of the utilities provider’s stock, valued at approximately $569,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ED. Root Financial Partners LLC purchased a new stake in Consolidated Edison during the third quarter valued at $113,000. Arkadios Wealth Advisors grew its stake in shares of Consolidated Edison by 68.3% in the 3rd quarter. Arkadios Wealth Advisors now owns 4,470 shares of the utilities provider’s stock worth $449,000 after buying an additional 1,814 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Consolidated Edison in the 3rd quarter worth about $213,000. Tradewinds LLC. purchased a new stake in shares of Consolidated Edison during the 3rd quarter valued at about $262,000. Finally, Mizuho Markets Americas LLC lifted its holdings in shares of Consolidated Edison by 23.7% in the 3rd quarter. Mizuho Markets Americas LLC now owns 2,765 shares of the utilities provider’s stock valued at $278,000 after acquiring an additional 529 shares during the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Consolidated Edison

In other news, Director John F. Killian sold 2,276 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $3,745,864.29. The trade was a 5.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ED shares. Barclays dropped their price target on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a research report on Monday, November 10th. Royal Bank Of Canada began coverage on Consolidated Edison in a report on Wednesday, January 7th. They issued a “sector perform” rating and a $114.00 target price for the company. KeyCorp cut their target price on Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating on the stock in a research report on Friday, December 12th. JPMorgan Chase & Co. decreased their price target on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating on the stock in a report on Friday, December 12th. Finally, Cowen started coverage on Consolidated Edison in a research report on Thursday, January 8th. They issued a “hold” rating for the company. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $103.27.

Consolidated Edison Trading Up 1.2%

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

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.14. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.27%.The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same period last 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 forecast that Consolidated Edison Inc will post 5.62 EPS 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.