Credit Agricole S A Sells 3,640 Shares of Consolidated Edison Inc $ED

Credit Agricole S A trimmed its stake in Consolidated Edison Inc (NYSE:ED) by 2.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 128,289 shares of the utilities provider’s stock after selling 3,640 shares during the period. Credit Agricole S A’s holdings in Consolidated Edison were worth $14,187,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Merit Financial Group LLC lifted its stake in shares of Consolidated Edison by 16.8% in the 1st quarter. Merit Financial Group LLC now owns 10,666 shares of the utilities provider’s stock valued at $1,180,000 after purchasing an additional 1,533 shares during the last quarter. Ritholtz Wealth Management bought a new stake in shares of Consolidated Edison in the 1st quarter valued at approximately $227,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Consolidated Edison by 2.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 250,014 shares of the utilities provider’s stock valued at $27,649,000 after purchasing an additional 6,869 shares during the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of Consolidated Edison in the 1st quarter valued at approximately $217,000. Finally, GAMMA Investing LLC lifted its stake in shares of Consolidated Edison by 45.0% in the 1st quarter. GAMMA Investing LLC now owns 9,242 shares of the utilities provider’s stock valued at $1,022,000 after purchasing an additional 2,869 shares during the last quarter. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Trading Up 0.6%

Shares of NYSE ED opened at $101.6850 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. The business has a fifty day simple moving average of $101.63 and a two-hundred day simple moving average of $103.62. The firm has a market cap of $36.67 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 2.81 and a beta of 0.24. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.39 billion. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.During the same period in the previous year, the company posted $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $3.40 dividend on an annualized basis and a yield of 3.3%. Consolidated Edison’s payout ratio is 61.71%.

Analysts Set New Price Targets

Several research firms have recently issued reports on ED. KeyCorp reaffirmed an “overweight” rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Guggenheim raised their price objective on Consolidated Edison from $96.00 to $103.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Bank of America lowered Consolidated Edison from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $112.00 to $101.00 in a research note on Friday, August 15th. Scotiabank raised their price target on Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research note on Monday, August 11th. Finally, Wells Fargo & Company raised their price target on Consolidated Edison from $103.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Consolidated Edison presently has a consensus rating of “Hold” and a consensus price target of $105.82.

Consolidated Edison Profile

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.