Consolidated Edison Inc $ED Shares Sold by Equitable Trust Co.

Equitable Trust Co. decreased its position in shares of Consolidated Edison Inc (NYSE:ED) by 2.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 11,797 shares of the utilities provider’s stock after selling 350 shares during the quarter. Equitable Trust Co.’s holdings in Consolidated Edison were worth $1,184,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ritholtz Wealth Management bought a new stake in shares of Consolidated Edison during the first quarter valued at about $227,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Consolidated Edison by 2.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 250,014 shares of the utilities provider’s stock valued at $27,649,000 after purchasing an additional 6,869 shares in the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of Consolidated Edison during the first quarter valued at about $217,000. AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of Consolidated Edison during the first quarter valued at about $1,631,000. Finally, GAMMA Investing LLC raised its stake in shares of Consolidated Edison by 45.0% during the first quarter. GAMMA Investing LLC now owns 9,242 shares of the utilities provider’s stock valued at $1,022,000 after purchasing an additional 2,869 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

ED has been the topic of a number of recent analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a research note on Wednesday, October 8th. KeyCorp restated an “overweight” rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Barclays boosted their price target on shares of Consolidated Edison from $101.00 to $107.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 13th. Evercore ISI started coverage on shares of Consolidated Edison in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 price target on the stock. Finally, Mizuho boosted their price target on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $105.75.

Consolidated Edison Trading Up 1.1%

Shares of ED opened at $101.95 on Wednesday. The business’s 50-day moving average price is $99.60 and its 200 day moving average price is $102.94. The stock has a market capitalization of $36.77 billion, a P/E ratio of 18.50, a P/E/G ratio of 2.80 and a beta of 0.32. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year high of $114.87. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations 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 last year, the business 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 year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Wednesday, August 13th were paid a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $3.40 dividend on an annualized basis and a yield of 3.3%. Consolidated Edison’s dividend payout ratio (DPR) is currently 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.