HighTower Advisors LLC Reduces Holdings in Consolidated Edison Inc $ED

HighTower Advisors LLC lowered its position in shares of Consolidated Edison Inc (NYSE:ED) by 11.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 144,403 shares of the utilities provider’s stock after selling 17,956 shares during the period. HighTower Advisors LLC’s holdings in Consolidated Edison were worth $14,342,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPL Wealth Management LLC purchased a new position in Consolidated Edison during the 3rd quarter worth approximately $26,000. Aventura Private Wealth LLC purchased a new stake in Consolidated Edison in the fourth quarter valued at approximately $27,000. Westfuller Advisors LLC purchased a new stake in Consolidated Edison in the fourth quarter valued at approximately $27,000. Dorato Capital Management acquired a new stake in shares of Consolidated Edison in the fourth quarter valued at approximately $28,000. Finally, WealthCollab LLC boosted its holdings in shares of Consolidated Edison by 68.4% in the fourth quarter. WealthCollab LLC now owns 315 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 128 shares during the period. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Stock Performance

NYSE:ED opened at $108.66 on Monday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.19 and a quick ratio of 1.09. The firm has a market cap of $40.04 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 2.76 and a beta of 0.29. The firm’s fifty day moving average price is $110.46 and its 200 day moving average price is $105.80. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.23.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, May 7th. The utilities provider reported $2.18 EPS for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.10). The firm had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Consolidated Edison had a return on equity of 8.33% and a net margin of 12.52%.During the same quarter in the previous year, the company posted $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, sell-side analysts expect that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Wednesday, May 13th will be given a $0.8875 dividend. The ex-dividend date is Wednesday, May 13th. This represents a $3.55 dividend on an annualized basis and a yield of 3.3%. Consolidated Edison’s dividend payout ratio (DPR) is presently 59.76%.

Insiders Place Their Bets

In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of Consolidated Edison stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $113.94, for a total value of $218,992.68. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ED. JPMorgan Chase & Co. lifted their target price on shares of Consolidated Edison from $107.00 to $113.00 and gave the company an “underweight” rating in a report on Thursday, March 12th. KeyCorp lifted their price objective on shares of Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a research note on Tuesday, April 21st. Bank of America reiterated an “underperform” rating and set a $104.00 target price on shares of Consolidated Edison in a research note on Wednesday, February 25th. Weiss Ratings raised Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Finally, Scotiabank boosted their price target on Consolidated Edison from $113.00 to $117.00 and gave the company a “sector perform” rating in a research report on Friday, February 20th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $108.71.

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.