J.W. Cole Advisors Inc. reduced its position in Consolidated Edison Inc (NYSE:ED – Free Report) by 21.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 23,804 shares of the utilities provider’s stock after selling 6,463 shares during the period. J.W. Cole Advisors Inc.’s holdings in Consolidated Edison were worth $2,272,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. Meadowbrook Wealth Management LLC boosted its position in shares of Consolidated Edison by 2.2% in the fourth quarter. Meadowbrook Wealth Management LLC now owns 4,687 shares of the utilities provider’s stock worth $466,000 after purchasing an additional 100 shares during the period. bLong Financial LLC lifted its holdings in shares of Consolidated Edison by 1.3% in the fourth quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider’s stock worth $772,000 after buying an additional 100 shares in the last quarter. Bridgewater Advisors Inc. lifted its holdings in shares of Consolidated Edison by 1.6% in the fourth quarter. Bridgewater Advisors Inc. now owns 6,635 shares of the utilities provider’s stock worth $689,000 after buying an additional 105 shares in the last quarter. JFS Wealth Advisors LLC lifted its holdings in shares of Consolidated Edison by 36.4% in the third quarter. JFS Wealth Advisors LLC now owns 412 shares of the utilities provider’s stock worth $41,000 after buying an additional 110 shares in the last quarter. Finally, David J Yvars Group lifted its holdings in shares of Consolidated Edison by 1.4% in the fourth quarter. David J Yvars Group now owns 8,015 shares of the utilities provider’s stock worth $796,000 after buying an additional 113 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
ED has been the topic of several research analyst reports. KeyCorp boosted their target price on shares of Consolidated Edison from $96.00 to $97.00 and gave the stock an “underweight” rating in a report on Tuesday, April 21st. Barclays lowered their target price on shares of Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating on the stock in a report on Monday, May 11th. Weiss Ratings raised shares of Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Mizuho reissued a “neutral” rating and issued a $105.00 target price on shares of Consolidated Edison in a report on Tuesday, June 2nd. Finally, The Goldman Sachs Group reissued a “sell” rating and issued a $105.00 target price on shares of Consolidated Edison in a report on Thursday, May 14th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, Consolidated Edison has an average rating of “Reduce” and a consensus price target of $107.79.
Consolidated Edison Price Performance
Consolidated Edison stock opened at $106.31 on Monday. The company has a market cap of $39.18 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 2.70 and a beta of 0.27. The firm’s fifty day moving average is $109.20 and its 200 day moving average is $106.26. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $116.23.
Consolidated Edison (NYSE:ED – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The utilities provider reported $2.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.10). The business had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Consolidated Edison had a net margin of 12.52% and a return on equity of 8.33%. During the same period in the previous year, the company earned $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Sell-side analysts forecast that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.
Consolidated Edison Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Wednesday, May 13th will be paid a dividend of $0.8875 per share. The ex-dividend date of this dividend 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 is presently 59.76%.
Insider Transactions at Consolidated Edison
In related news, SVP Deneen L. Donnley sold 1,922 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $113.94, for a total transaction of $218,992.68. Following the sale, the senior vice president owned 32,453 shares of the company’s stock, valued at $3,697,694.82. This represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.15% of the stock is currently owned by insiders.
About Consolidated Edison
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.
Featured Stories
- Five stocks we like better than Consolidated Edison
- These 3 Insurance Stocks Made New 52-Week Highs: Still Time to Buy?
- 3 Stocks Under $20 to Buy Before a Broader Market Rally
- Petco Faces Tough Competition, But Momentum Is Building
- The Lock-In Effect Is Real—These 3 Homebuilders Are Betting on It
Want to see what other hedge funds are holding ED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Consolidated Edison Inc (NYSE:ED – Free Report).
Receive News & Ratings for Consolidated Edison Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Edison and related companies with MarketBeat.com's FREE daily email newsletter.
