Consolidated Edison Inc $ED Shares Sold by Cwm LLC

Cwm LLC reduced its holdings in Consolidated Edison Inc (NYSE:ED) by 0.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 226,971 shares of the utilities provider’s stock after selling 1,789 shares during the quarter. Cwm LLC owned 0.06% of Consolidated Edison worth $22,777,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ED. OFI Invest Asset Management acquired a new position in shares of Consolidated Edison during the 2nd quarter valued at $93,000. Vanguard Personalized Indexing Management LLC increased its position in shares of Consolidated Edison by 12.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 70,854 shares of the utilities provider’s stock valued at $7,111,000 after purchasing an additional 7,761 shares during the period. Concurrent Investment Advisors LLC increased its position in shares of Consolidated Edison by 4.0% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 8,335 shares of the utilities provider’s stock valued at $836,000 after purchasing an additional 324 shares during the period. Johnson Investment Counsel Inc. increased its position in shares of Consolidated Edison by 1.1% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 14,574 shares of the utilities provider’s stock valued at $1,463,000 after purchasing an additional 165 shares during the period. Finally, Apollon Wealth Management LLC increased its position in shares of Consolidated Edison by 41.9% during the 2nd quarter. Apollon Wealth Management LLC now owns 10,570 shares of the utilities provider’s stock valued at $1,061,000 after purchasing an additional 3,120 shares during the period. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

Shares of NYSE ED opened at $102.36 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $36.92 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 2.85 and a beta of 0.32. The stock’s fifty day simple moving average is $99.73 and its 200 day simple moving average is $103.00. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week high of $114.87.

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

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th were issued a dividend of $0.85 per share. The ex-dividend date was Wednesday, August 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.3%. Consolidated Edison’s payout ratio is currently 61.71%.

Wall Street Analysts Forecast Growth

ED has been the topic of several research analyst reports. Morgan Stanley lowered their price target on Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating on the stock in a research report on Thursday, September 25th. Mizuho lifted their price target on Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Scotiabank lifted their price target on Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a research report on Monday, August 11th. Bank of America cut Consolidated Edison from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $112.00 to $101.00 in a report on Friday, August 15th. Finally, Evercore ISI assumed coverage on Consolidated Edison in a report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $105.75.

Consolidated Edison Profile

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.