Exchange Traded Concepts LLC Has $2.19 Million Holdings in Consolidated Edison Inc $ED

Exchange Traded Concepts LLC lifted its holdings in Consolidated Edison Inc (NYSE:ED) by 96.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,760 shares of the utilities provider’s stock after purchasing an additional 10,710 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Consolidated Edison were worth $2,187,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Norges Bank bought a new stake in Consolidated Edison during the 2nd quarter worth about $462,218,000. ATLAS Infrastructure Partners UK Ltd. acquired a new stake in shares of Consolidated Edison in the first quarter valued at about $254,205,000. Vanguard Group Inc. raised its holdings in Consolidated Edison by 4.5% during the second quarter. Vanguard Group Inc. now owns 45,040,811 shares of the utilities provider’s stock worth $4,519,845,000 after acquiring an additional 1,923,717 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in Consolidated Edison by 2,190.9% during the second quarter. Qube Research & Technologies Ltd now owns 978,160 shares of the utilities provider’s stock valued at $98,158,000 after purchasing an additional 935,463 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in Consolidated Edison by 103.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,327,643 shares of the utilities provider’s stock valued at $133,229,000 after purchasing an additional 675,852 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Insider Buying and Selling at Consolidated Edison

In other news, Director John F. Killian sold 2,276 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $96.89, for a total value of $220,521.64. Following the completion of the sale, the director owned 38,661 shares of the company’s stock, valued at approximately $3,745,864.29. The trade was a 5.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.19% of the company’s stock.

Consolidated Edison Stock Up 0.6%

Shares of ED opened at $99.53 on Friday. The firm has a market cap of $35.92 billion, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 2.88 and a beta of 0.37. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.97 and a current ratio of 1.08. Consolidated Edison Inc has a 52 week low of $87.28 and a 52 week high of $114.87. The firm’s 50-day simple moving average is $98.97 and its 200 day simple moving average is $99.91.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.14. The company had revenue of $4.53 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the company posted $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th were given a dividend of $0.85 per share. The ex-dividend date was Wednesday, November 19th. This represents a $3.40 annualized dividend and a yield of 3.4%. Consolidated Edison’s dividend payout ratio (DPR) is presently 59.44%.

Analyst Ratings Changes

ED has been the topic of a number of analyst reports. Barclays dropped their price objective on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a research note on Monday, November 10th. KeyCorp lowered their target price on shares of Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating on the stock in a report on Friday, December 12th. UBS Group cut their price target 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, December 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of Consolidated Edison in a research report on Monday. Finally, New Street Research set a $106.00 target price on shares of Consolidated Edison in a report on Monday, October 6th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target 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.