Consolidated Edison Inc $ED Shares Sold by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC lowered its stake in Consolidated Edison Inc (NYSE:ED) by 4.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 5,765 shares of the utilities provider’s stock after selling 257 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Consolidated Edison were worth $578,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Ritholtz Wealth Management acquired a new stake in shares of Consolidated Edison in the first quarter valued at about $227,000. Wealth Enhancement Advisory Services LLC lifted its stake in 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 buying an additional 6,869 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Consolidated Edison in the 1st quarter worth about $217,000. AG2R LA Mondiale Gestion D Actifs purchased a new stake in Consolidated Edison during the 1st quarter worth approximately $1,631,000. Finally, GAMMA Investing LLC increased its stake in Consolidated Edison by 45.0% during the 1st quarter. GAMMA Investing LLC now owns 9,242 shares of the utilities provider’s stock worth $1,022,000 after buying an additional 2,869 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Trading Up 0.5%

Shares of ED stock opened at $99.28 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87. The company’s 50-day moving average price is $99.91 and its 200-day moving average price is $103.17. The stock has a market cap of $35.81 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 2.75 and a beta of 0.32.

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

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Wednesday, August 13th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.4%. The ex-dividend date was Wednesday, August 13th. Consolidated Edison’s dividend payout ratio is presently 61.71%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. New Street Research set a $106.00 price target on Consolidated Edison in a research note on Monday. Mizuho lifted their target price on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Morgan Stanley reduced their target price on shares of Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating for the company in a research report on Thursday, September 25th. KeyCorp reissued an “overweight” rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Finally, Bank of America cut shares of Consolidated Edison from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $112.00 to $101.00 in a research note on Friday, August 15th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $105.92.

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.