Yousif Capital Management LLC Lowers Stake in Consolidated Edison Inc $ED

Yousif Capital Management LLC reduced its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 5.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 128,654 shares of the utilities provider’s stock after selling 7,758 shares during the period. Yousif Capital Management LLC’s holdings in Consolidated Edison were worth $12,910,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of ED. Alpine Bank Wealth Management purchased a new position in Consolidated Edison in the 1st quarter valued at $32,000. Capital Advisors Ltd. LLC grew its position in Consolidated Edison by 53.2% in the 2nd 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. Fort Vancouver Investment Management LLC purchased a new position in Consolidated Edison in the 1st quarter valued at $33,000. Financial Network Wealth Advisors LLC purchased a new position in Consolidated Edison in the 1st quarter valued at $33,000. Finally, Cary Street Partners Investment Advisory LLC grew its position in Consolidated Edison by 64.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock valued at $34,000 after buying an additional 120 shares during 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 topic of a number of analyst reports. Scotiabank lifted their price objective on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a research report on Monday, August 11th. Barclays lifted their price objective on shares of Consolidated Edison from $101.00 to $107.00 and gave the company an “underweight” rating in a research report on Wednesday, August 13th. Mizuho upped their price target on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Evercore ISI started 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 target on the stock. Finally, Morgan Stanley lowered their price target on shares of Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating on the stock in a research note on Thursday, September 25th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Consolidated Edison has an average rating of “Hold” and an average target price of $105.75.

Consolidated Edison Stock Performance

NYSE:ED opened at $100.85 on Tuesday. The stock has a market cap of $36.37 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 2.85 and a beta of 0.32. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The firm’s fifty day simple moving average is $99.64 and its 200-day simple moving average is $102.94.

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

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Wednesday, August 13th. Consolidated Edison’s payout ratio is 61.71%.

About Consolidated Edison

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.