Envestnet Portfolio Solutions Inc. Sells 708 Shares of Consolidated Edison Inc $ED

Envestnet Portfolio Solutions Inc. lowered its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 4.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,094 shares of the utilities provider’s stock after selling 708 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Consolidated Edison were worth $1,515,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Alpine Bank Wealth Management purchased a new stake in shares of Consolidated Edison during the first quarter worth about $32,000. Fort Vancouver Investment Management LLC purchased a new stake in shares of Consolidated Edison during the first quarter worth about $33,000. Financial Network Wealth Advisors LLC purchased a new stake in shares of Consolidated Edison during the first quarter worth about $33,000. Cary Street Partners Investment Advisory LLC grew its position in shares of Consolidated Edison by 64.9% during 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 in the last quarter. Finally, Capital Advisors Ltd. LLC grew its position in shares of Consolidated Edison by 53.2% during 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 in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of Consolidated Edison stock opened at $101.14 on Friday. The stock has a market cap of $36.48 billion, a price-to-earnings ratio of 18.36, a price-to-earnings-growth ratio of 2.81 and a beta of 0.32. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. The stock has a 50 day moving average price of $99.41 and a 200-day moving average price of $102.81. Consolidated Edison Inc has a one year low of $87.28 and a one year high of $114.87.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The firm had revenue of $3.60 billion during 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 in the previous year, the business earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be issued a $0.85 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.4%. Consolidated Edison’s payout ratio is 61.71%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Mizuho increased their target price on Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Bank of America cut Consolidated Edison from a “buy” rating to an “underperform” rating and cut their price target for the company from $112.00 to $101.00 in a report on Friday, August 15th. Barclays raised their price target on Consolidated Edison from $101.00 to $107.00 and gave the company an “underweight” rating in a report on Wednesday, August 13th. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a report on Wednesday, October 8th. Finally, Morgan Stanley cut their price target on Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating for the company in a report on Thursday, September 25th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $105.92.

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.