ProShare Advisors LLC Sells 77,496 Shares of Consolidated Edison Inc $ED

ProShare Advisors LLC lowered its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 4.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,672,166 shares of the utilities provider’s stock after selling 77,496 shares during the period. ProShare Advisors LLC’s holdings in Consolidated Edison were worth $166,080,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. boosted its position in Consolidated Edison by 13.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,819 shares of the utilities provider’s stock valued at $7,320,000 after buying an additional 8,562 shares during the period. Nuance Investments LLC purchased a new stake in Consolidated Edison during the 3rd quarter valued at $4,017,000. Bryce Point Capital LLC purchased a new stake in Consolidated Edison during the 3rd quarter valued at $556,000. Caprock Group LLC purchased a new stake in Consolidated Edison during the 3rd quarter valued at $2,586,000. Finally, IFP Advisors Inc boosted its position in Consolidated Edison by 194.5% during the 3rd quarter. IFP Advisors Inc now owns 15,208 shares of the utilities provider’s stock valued at $1,559,000 after buying an additional 10,044 shares during the period. Institutional investors own 66.29% of the company’s stock.

Insider Activity at Consolidated Edison

In other news, SVP Deneen L. Donnley sold 1,922 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $113.94, for a total value of $218,992.68. Following the transaction, the senior vice president owned 32,453 shares of the company’s stock, valued at approximately $3,697,694.82. The trade was a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ED shares. Weiss Ratings raised shares of Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Citigroup reissued a “buy” rating on shares of Consolidated Edison in a research report on Monday, February 23rd. Barclays dropped their price target on shares of Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating for the company in a research report on Monday, May 11th. TD Cowen increased their price target on shares of Consolidated Edison from $105.00 to $112.00 and gave the company a “hold” rating in a research report on Tuesday, February 24th. Finally, Wells Fargo & Company set a $98.00 target price on shares of Consolidated Edison in a research report on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $109.14.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $106.42 on Tuesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.19 and a quick ratio of 1.09. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.23. The company has a market capitalization of $39.22 billion, a P/E ratio of 17.92, a P/E/G ratio of 2.68 and a beta of 0.29. The firm’s 50 day simple moving average is $110.80 and its two-hundred day simple moving average is $105.51.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, May 7th. The utilities provider reported $2.18 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($0.10). Consolidated Edison had a net margin of 12.52% and a return on equity of 8.33%. The firm had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the prior year, the firm earned $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Research analysts expect that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th will be issued a $0.8875 dividend. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, May 13th. Consolidated Edison’s payout ratio is 59.76%.

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.