Consolidated Edison Inc $ED Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC trimmed its position in Consolidated Edison Inc (NYSE:ED) by 98.0% in the second quarter, HoldingsChannel.com reports. The firm owned 6,216 shares of the utilities provider’s stock after selling 311,491 shares during the quarter. SG Americas Securities LLC’s holdings in Consolidated Edison were worth $624,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Atlantic Union Bankshares Corp boosted its position in shares of Consolidated Edison by 46.7% during the 2nd quarter. Atlantic Union Bankshares Corp now owns 3,714 shares of the utilities provider’s stock valued at $373,000 after purchasing an additional 1,183 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs acquired a new stake in Consolidated Edison during the first quarter valued at approximately $1,631,000. Texas Yale Capital Corp. boosted its holdings in Consolidated Edison by 41.8% during the second quarter. Texas Yale Capital Corp. now owns 16,627 shares of the utilities provider’s stock worth $1,669,000 after buying an additional 4,900 shares in the last quarter. CENTRAL TRUST Co boosted its holdings in Consolidated Edison by 18.8% during the second quarter. CENTRAL TRUST Co now owns 6,960 shares of the utilities provider’s stock worth $698,000 after buying an additional 1,102 shares in the last quarter. Finally, RDA Financial Network acquired a new position in Consolidated Edison in the second quarter worth approximately $367,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ED shares. Morgan Stanley reiterated an “underweight” rating and set a $98.00 price objective on shares of Consolidated Edison in a research report on Thursday, November 20th. New Street Research set a $106.00 target price on Consolidated Edison in a report on Monday, October 6th. Scotiabank lifted 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. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a report on Monday. Finally, Evercore ISI began coverage on shares of Consolidated Edison in a report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 target price for the company. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $104.58.

Consolidated Edison Stock Down 0.1%

Consolidated Edison stock opened at $98.85 on Wednesday. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. The firm has a market cap of $35.68 billion, a PE ratio of 17.94, a P/E/G ratio of 2.70 and a beta of 0.32. The firm’s 50 day moving average price is $99.51 and its two-hundred day moving average price is $100.66.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.76 by $0.14. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same quarter in the previous year, the company posted $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, research analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, November 19th. Consolidated Edison’s dividend payout ratio is presently 59.44%.

Consolidated Edison Company 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.