Exchange Traded Concepts LLC Cuts Stake in Consolidated Edison Inc $ED

Exchange Traded Concepts LLC lowered its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 49.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 11,105 shares of the utilities provider’s stock after selling 10,655 shares during the period. Exchange Traded Concepts LLC’s holdings in Consolidated Edison were worth $1,103,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in Consolidated Edison by 13.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,819 shares of the utilities provider’s stock valued at $7,320,000 after buying an additional 8,562 shares during the last quarter. Bryce Point Capital LLC bought a new stake in Consolidated Edison in the 3rd quarter worth $556,000. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Consolidated Edison by 3.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,028,686 shares of the utilities provider’s stock valued at $103,404,000 after acquiring an additional 29,606 shares during the period. Nuance Investments LLC bought a new position in shares of Consolidated Edison during the third quarter valued at about $4,017,000. Finally, Caprock Group LLC bought a new position in shares of Consolidated Edison during the third quarter valued at about $2,586,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Insider Activity at Consolidated Edison

In other news, SVP Deneen L. Donnley sold 1,922 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $113.94, for a total transaction of $218,992.68. Following the sale, the senior vice president owned 32,453 shares in the company, valued at approximately $3,697,694.82. The trade was a 5.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ED. Scotiabank raised their target price on Consolidated Edison from $113.00 to $117.00 and gave the stock a “sector perform” rating in a research note on Friday, February 20th. Bank of America reaffirmed an “underperform” rating and set a $104.00 price target on shares of Consolidated Edison in a research report on Wednesday, February 25th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a report on Friday, March 27th. TD Cowen boosted their target price on Consolidated Edison from $105.00 to $112.00 and gave the company a “hold” rating in a research note on Tuesday, February 24th. Finally, UBS Group upped their target price on Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $108.80.

Consolidated Edison Stock Performance

Shares of ED opened at $115.50 on Friday. The company has a 50-day simple moving average of $110.65 and a two-hundred day simple moving average of $103.29. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.02 and a quick ratio of 0.94. The firm has a market capitalization of $41.72 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 2.90 and a beta of 0.34. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.03. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the prior year, the business earned $0.98 EPS. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Wednesday, February 18th were given a dividend of $0.8875 per share. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.85. This represents a $3.55 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, February 18th. Consolidated Edison’s payout ratio is 62.83%.

About Consolidated Edison

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.