AMF Tjanstepension AB Trims Stake in Consolidated Edison Inc $ED

AMF Tjanstepension AB cut its position in shares of Consolidated Edison Inc (NYSE:ED) by 40.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 171,081 shares of the utilities provider’s stock after selling 115,541 shares during the period. AMF Tjanstepension AB’s holdings in Consolidated Edison were worth $17,197,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in ED. Golden State Wealth Management LLC grew its stake in Consolidated Edison by 13.6% during the 2nd quarter. Golden State Wealth Management LLC now owns 837 shares of the utilities provider’s stock valued at $84,000 after acquiring an additional 100 shares in the last quarter. Certuity LLC raised its position in Consolidated Edison by 2.7% in the second quarter. Certuity LLC now owns 3,743 shares of the utilities provider’s stock valued at $376,000 after purchasing an additional 100 shares during the period. Stephens Inc. AR boosted its stake in shares of Consolidated Edison by 0.8% in the third quarter. Stephens Inc. AR now owns 13,791 shares of the utilities provider’s stock valued at $1,386,000 after purchasing an additional 105 shares during the period. Capital Advisors Ltd. LLC increased its position in shares of Consolidated Edison by 53.2% during the second quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 109 shares during the period. Finally, Fifth Third Wealth Advisors LLC grew its holdings in Consolidated Edison by 3.2% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 3,613 shares of the utilities provider’s stock worth $363,000 after acquiring an additional 111 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $103.84 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.97 and a debt-to-equity ratio of 1.03. Consolidated Edison Inc has a twelve month low of $90.36 and a twelve month high of $114.87. The business has a 50 day simple moving average of $99.67 and a 200-day simple moving average of $99.95. The company has a market capitalization of $37.48 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 2.83 and a beta of 0.39.

Consolidated Edison (NYSE:ED) last issued its earnings results 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 firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.22 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.79%. During the same quarter last year, the company posted $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 expect that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on ED shares. Royal Bank Of Canada reiterated a “sector perform” rating and set a $118.00 price target on shares of Consolidated Edison in a research note on Friday. TD Cowen initiated coverage on Consolidated Edison in a research report on Friday, January 9th. They set a “hold” rating and a $105.00 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 reissued an “underweight” rating and set a $96.00 price target on shares of Consolidated Edison in a research note on Wednesday. Finally, Evercore ISI assumed coverage on Consolidated Edison in a research report on Tuesday, October 7th. They set an “in-line” rating and a $106.00 price target for the company. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Consolidated Edison currently has a consensus rating of “Reduce” and a consensus target price of $104.20.

Insider Activity at Consolidated Edison

In other news, Director John F. Killian sold 2,276 shares of Consolidated Edison stock in a transaction that occurred 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 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

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.