Exchange Traded Concepts LLC Acquires 10,710 Shares of Consolidated Edison Inc $ED

Exchange Traded Concepts LLC increased its holdings in Consolidated Edison Inc (NYSE:ED) by 96.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,760 shares of the utilities provider’s stock after buying an additional 10,710 shares during the period. Exchange Traded Concepts LLC’s holdings in Consolidated Edison were worth $2,187,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Capital Advisors Ltd. LLC increased its stake in Consolidated Edison by 53.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 109 shares during the period. Bogart Wealth LLC increased its position in shares of Consolidated Edison by 886.5% in the second quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 328 shares during the period. SJS Investment Consulting Inc. increased its position in shares of Consolidated Edison by 1,677.3% in the second quarter. SJS Investment Consulting Inc. now owns 391 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 369 shares during the period. HFM Investment Advisors LLC acquired a new position in Consolidated Edison in the first quarter valued at about $52,000. Finally, Darwin Wealth Management LLC bought a new stake in Consolidated Edison during the second quarter worth about $52,000. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Trading Up 0.6%

NYSE ED opened at $99.53 on Friday. The company has a market cap of $35.92 billion, a price-to-earnings ratio of 17.40, a price-to-earnings-growth ratio of 2.88 and a beta of 0.37. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87. The company has a quick ratio of 0.97, a current ratio of 1.08 and a debt-to-equity ratio of 1.03. The business’s fifty day moving average is $98.97 and its 200 day moving average is $99.91.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.14. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.27%.The business had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter in the prior year, the firm earned $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. As a group, sell-side analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Wednesday, November 19th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Wednesday, November 19th. Consolidated Edison’s dividend payout ratio (DPR) is 59.44%.

Insiders Place Their Bets

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $96.89, for a total transaction of $220,521.64. Following the sale, the director directly owned 38,661 shares of the company’s stock, valued at $3,745,864.29. The trade was a 5.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.19% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently commented on ED. New Street Research set a $106.00 target price on shares of Consolidated Edison in a research report on Monday, October 6th. Evercore ISI initiated coverage on shares of Consolidated Edison in a research note on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 price objective on the stock. Wells Fargo & Company upgraded Consolidated Edison to a “hold” rating in a research note on Tuesday, October 28th. Morgan Stanley set a $92.00 target price on Consolidated Edison in a report on Tuesday, December 16th. Finally, KeyCorp lowered their price target on Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating for the company in a report on Friday, December 12th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $102.54.

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.