Cerity Partners LLC Cuts Position in Consolidated Edison Inc $ED

Cerity Partners LLC trimmed its position in shares of Consolidated Edison Inc (NYSE:ED) by 5.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 116,151 shares of the utilities provider’s stock after selling 7,013 shares during the quarter. Cerity Partners LLC’s holdings in Consolidated Edison were worth $11,675,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ED. CoreCap Advisors LLC grew its holdings in shares of Consolidated Edison by 30.5% during the third quarter. CoreCap Advisors LLC now owns 2,194 shares of the utilities provider’s stock valued at $221,000 after buying an additional 513 shares during the last quarter. Spirepoint Private Client LLC acquired a new stake in shares of Consolidated Edison in the third quarter valued at about $324,000. Gladstone Institutional Advisory LLC raised its holdings in shares of Consolidated Edison by 19.5% during the third quarter. Gladstone Institutional Advisory LLC now owns 2,442 shares of the utilities provider’s stock valued at $245,000 after acquiring an additional 398 shares during the last quarter. Greenleaf Trust lifted its holdings in Consolidated Edison by 33.5% in the 3rd quarter. Greenleaf Trust now owns 11,065 shares of the utilities provider’s stock valued at $1,112,000 after purchasing an additional 2,774 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Consolidated Edison by 4.7% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 22,396 shares of the utilities provider’s stock worth $2,251,000 after purchasing an additional 1,000 shares during the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Consolidated Edison

In related news, Director John F. Killian sold 2,276 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were 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 of the company’s stock, valued at approximately $3,745,864.29. This represents a 5.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ED shares. KeyCorp reduced their target price on shares of Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating on the stock in a research note on Friday, December 12th. Evercore ISI initiated coverage on shares of Consolidated Edison in a research note on Tuesday, October 7th. They set an “in-line” rating and a $106.00 target price on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Consolidated Edison in a research report on Monday, December 29th. Morgan Stanley set a $92.00 price objective on Consolidated Edison in a research report on Tuesday, December 16th. Finally, Cowen started coverage on shares of Consolidated Edison in a research note on Thursday. They issued a “hold” rating for the company. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $103.53.

Consolidated Edison Trading Down 1.0%

NYSE:ED opened at $99.21 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.97 and a current ratio of 1.08. The stock has a fifty day moving average price of $98.87 and a two-hundred day moving average price of $99.73. Consolidated Edison Inc has a 1 year low of $87.28 and a 1 year high of $114.87. The stock has a market capitalization of $35.81 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 2.71 and a beta of 0.39.

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

Consolidated Edison Announces Dividend

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

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.