Consolidated Edison Inc $ED Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its holdings in Consolidated Edison Inc (NYSE:ED) by 9.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 895,724 shares of the utilities provider’s stock after selling 91,437 shares during the quarter. Hsbc Holdings PLC’s holdings in Consolidated Edison were worth $88,960,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Revolve Wealth Partners LLC boosted its holdings in Consolidated Edison by 13.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock valued at $332,000 after purchasing an additional 441 shares in the last quarter. Empowered Funds LLC increased its stake in Consolidated Edison by 42.1% in the first quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock valued at $993,000 after purchasing an additional 2,659 shares during the last quarter. Woodline Partners LP raised its holdings in Consolidated Edison by 40.7% during the first quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock worth $3,237,000 after purchasing an additional 8,468 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Consolidated Edison during the second quarter worth approximately $3,256,000. Finally, Baird Financial Group Inc. lifted its position in shares of Consolidated Edison by 2.1% during the 2nd quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider’s stock worth $1,473,000 after buying an additional 296 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ED. The Goldman Sachs Group restated a “sell” rating and issued a $105.00 target price on shares of Consolidated Edison in a report on Thursday, May 14th. Evercore set a $116.00 price target on shares of Consolidated Edison in a research report on Monday, May 11th. Morgan Stanley set a $99.00 price objective on shares of Consolidated Edison in a research note on Thursday, May 21st. Citigroup reaffirmed a “buy” rating on shares of Consolidated Edison in a report on Monday, February 23rd. Finally, Wells Fargo & Company set a $98.00 target price on Consolidated Edison in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, Consolidated Edison currently has an average rating of “Reduce” and an average target price of $107.79.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $106.36 on Monday. The firm’s fifty day simple moving average is $107.84 and its 200-day simple moving average is $106.74. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $116.23. The stock has a market capitalization of $39.20 billion, a price-to-earnings ratio of 17.91, a PEG ratio of 2.70 and a beta of 0.27. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.19 and a quick ratio of 1.09.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, May 7th. The utilities provider reported $2.18 earnings per share for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.10). Consolidated Edison had a return on equity of 8.33% and a net margin of 12.52%.The business had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the prior year, the company earned $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, equities analysts forecast that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th were paid a dividend of $0.8875 per share. The ex-dividend date was Wednesday, May 13th. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. Consolidated Edison’s dividend payout ratio is 59.76%.

Consolidated Edison 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.