Assenagon Asset Management S.A. Sells 780,874 Shares of Consolidated Edison Inc $ED

Assenagon Asset Management S.A. lessened its stake in Consolidated Edison Inc (NYSE:ED) by 79.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 200,591 shares of the utilities provider’s stock after selling 780,874 shares during the quarter. Assenagon Asset Management S.A. owned 0.06% of Consolidated Edison worth $20,163,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Capital Advisors Ltd. LLC lifted its position in Consolidated Edison by 53.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 109 shares in the last quarter. Bogart Wealth LLC raised its stake in shares of Consolidated Edison by 886.5% in the 2nd quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 328 shares during the period. SJS Investment Consulting Inc. lifted its holdings in shares of Consolidated Edison by 1,677.3% in the second quarter. SJS Investment Consulting Inc. now owns 391 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 369 shares in the last quarter. HFM Investment Advisors LLC acquired a new position in shares of Consolidated Edison during the first quarter worth about $52,000. Finally, Darwin Wealth Management LLC bought a new position in shares of Consolidated Edison during the second quarter worth about $52,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Down 1.8%

Shares of NYSE:ED opened at $98.23 on Friday. Consolidated Edison Inc has a 12-month low of $87.28 and a 12-month high of $114.87. The business has a 50 day moving average of $99.16 and a 200-day moving average of $100.00. The company has a quick ratio of 0.97, a current ratio of 1.08 and a debt-to-equity ratio of 1.03. The stock has a market cap of $35.46 billion, a PE ratio of 17.17, a P/E/G ratio of 2.89 and a beta of 0.37.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.14. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.22 billion. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.27%.During the same quarter last year, the company earned $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. As a group, equities research analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.5%. Consolidated Edison’s dividend payout ratio (DPR) is currently 59.44%.

Insider Buying and Selling at Consolidated Edison

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total transaction of $220,521.64. Following the transaction, the director owned 38,661 shares in the company, valued at $3,745,864.29. This trade represents a 5.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ED. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Consolidated Edison in a research report on Monday. New Street Research set a $106.00 target price on shares of Consolidated Edison in a report on Monday, October 6th. KeyCorp decreased their target price on shares of Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating for the company in a research report on Friday, December 12th. Morgan Stanley set a $92.00 price target on shares of Consolidated Edison in a research note on Tuesday. Finally, UBS Group reduced their price objective on shares of Consolidated Edison from $112.00 to $104.00 and set a “neutral” rating for the company in a research note on Wednesday. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $102.54.

Consolidated Edison Company 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.