HighTower Advisors LLC Sells 4,743 Shares of Consolidated Edison Inc $ED

HighTower Advisors LLC cut its position in Consolidated Edison Inc (NYSE:ED) by 3.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 145,683 shares of the utilities provider’s stock after selling 4,743 shares during the period. HighTower Advisors LLC’s holdings in Consolidated Edison were worth $16,117,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its stake in shares of Consolidated Edison by 13,703.3% in the second quarter. California State Teachers Retirement System now owns 87,936,136 shares of the utilities provider’s stock valued at $9,728,375,000 after acquiring an additional 87,299,071 shares during the last quarter. BlackRock Inc. bought a new stake in Consolidated Edison during the 2nd quarter worth approximately $4,609,491,000. State Street Corp increased its holdings in Consolidated Edison by 3.6% during the 4th quarter. State Street Corp now owns 24,905,440 shares of the utilities provider’s stock valued at $2,473,608,000 after purchasing an additional 854,868 shares in the last quarter. Lazard Asset Management LLC increased its holdings in Consolidated Edison by 14.8% during the 1st quarter. Lazard Asset Management LLC now owns 7,075,838 shares of the utilities provider’s stock valued at $800,843,000 after purchasing an additional 910,244 shares in the last quarter. Finally, Deutsche Bank AG bought a new position in Consolidated Edison in the 2nd quarter valued at $749,184,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Performance

Shares of NYSE:ED opened at $107.62 on Thursday. The firm’s 50 day simple moving average is $109.56 and its 200 day simple moving average is $109.68. Consolidated Edison Inc has a fifty-two week low of $94.96 and a fifty-two week high of $116.23. The company has a market capitalization of $39.80 billion, a price-to-earnings ratio of 17.67, a P/E/G ratio of 3.75 and a beta of 0.27. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.27 and a quick ratio of 1.17.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The firm had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $3.60 billion. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. During the same quarter in the previous year, the company earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, sell-side analysts forecast that Consolidated Edison Inc will post 6.1 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Wednesday, August 19th will be given a dividend of $0.8875 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.3%. Consolidated Edison’s dividend payout ratio (DPR) is currently 58.29%.

Wall Street Analysts Forecast Growth

ED has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Consolidated Edison in a research note on Tuesday, July 21st. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $105.00 price target on shares of Consolidated Edison in a report on Thursday, May 14th. Argus set a $112.00 price target on shares of Consolidated Edison in a research report on Tuesday, June 23rd. Barclays decreased their price objective on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a report on Friday, August 7th. Finally, Evercore restated a “positive” rating and issued a $112.00 price objective on shares of Consolidated Edison in a research report on Monday, August 17th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $108.93.

Consolidated Edison Profile

Consolidated Edison, Inc is an energy delivery holding company headquartered in New York. Through its principal subsidiary, Consolidated Edison Company of New York, Inc, the company provides electric, natural gas and steam service to customers in New York City and Westchester County, New York.

Con Edison also operates Orange and Rockland Utilities, Inc, which supplies electric and natural gas service in parts of southeastern New York and northern New Jersey. Its utility operations include the generation, transmission and distribution of energy, as well as the maintenance of the infrastructure required to serve residential, commercial and industrial customers.

The company traces its roots to energy businesses that began operating in New York during the 19th century and adopted the Consolidated Edison name in the 1930s.