Consolidated Edison Inc $ED Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. lessened its position in shares of Consolidated Edison Inc (NYSE:ED) by 3.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,896 shares of the utilities provider’s stock after selling 135 shares during the quarter. Vontobel Holding Ltd.’s holdings in Consolidated Edison were worth $391,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Exchange Traded Concepts LLC raised its stake in shares of Consolidated Edison by 1.0% during the 2nd quarter. Exchange Traded Concepts LLC now owns 11,050 shares of the utilities provider’s stock worth $1,109,000 after buying an additional 109 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Consolidated Edison by 1.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 8,896 shares of the utilities provider’s stock worth $893,000 after buying an additional 110 shares during the last quarter. Western Wealth Management LLC raised its stake in shares of Consolidated Edison by 0.7% during the 1st quarter. Western Wealth Management LLC now owns 16,101 shares of the utilities provider’s stock worth $1,781,000 after buying an additional 116 shares during the last quarter. Eastern Bank increased its position in Consolidated Edison by 2.9% during the 1st quarter. Eastern Bank now owns 4,294 shares of the utilities provider’s stock worth $475,000 after purchasing an additional 120 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its position in Consolidated Edison by 64.9% during the 1st 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. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on ED shares. Scotiabank lifted their price target on Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a report on Monday, August 11th. Mizuho lifted their price target on Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Bank of America cut Consolidated Edison from a “buy” rating to an “underperform” rating and lowered their price target for the company from $112.00 to $101.00 in a report on Friday, August 15th. Morgan Stanley lowered 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. Finally, Barclays lifted 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. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $105.75.

Consolidated Edison Stock Performance

NYSE ED opened at $101.95 on Wednesday. The firm has a market capitalization of $36.77 billion, a P/E ratio of 18.50, a P/E/G ratio of 2.80 and a beta of 0.32. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year high of $114.87. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01. The business’s 50-day simple moving average is $99.60 and its 200-day simple moving average is $102.94.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.39 billion. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.During the same period in the previous year, the company posted $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

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

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.