Hsbc Holdings PLC Cuts Position in Consolidated Edison Inc $ED

Hsbc Holdings PLC trimmed its position in shares of Consolidated Edison Inc (NYSE:ED) by 9.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 895,724 shares of the utilities provider’s stock after selling 91,437 shares during the period. Hsbc Holdings PLC owned approximately 0.25% of Consolidated Edison worth $88,960,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ED. Basepoint Wealth LLC acquired a new position in Consolidated Edison during the 4th quarter worth about $26,000. JPL Wealth Management LLC purchased a new position in Consolidated Edison during the 3rd quarter valued at about $26,000. Aventura Private Wealth LLC acquired a new position in Consolidated Edison in the 4th quarter valued at about $27,000. Westfuller Advisors LLC acquired a new position in Consolidated Edison in the 4th quarter valued at about $27,000. Finally, Dorato Capital Management acquired a new position in Consolidated Edison in the 4th quarter valued at about $28,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Stock Performance

Shares of ED opened at $106.36 on Monday. Consolidated Edison Inc has a 1 year low of $94.96 and a 1 year high of $116.23. The stock has a market capitalization of $39.20 billion, a PE 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 quick ratio of 1.09 and a current ratio of 1.19. The stock has a 50-day simple moving average of $107.84 and a 200-day simple moving average of $106.74.

Consolidated Edison (NYSE:ED) last released its 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 firm had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the previous year, the company posted $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, analysts predict that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th were given a $0.8875 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.3%. Consolidated Edison’s dividend payout ratio is currently 59.76%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Citigroup reissued a “buy” rating on shares of Consolidated Edison in a research report on Monday, February 23rd. KeyCorp lifted their price objective on shares of Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a report on Tuesday, April 21st. Morgan Stanley set a $99.00 target price on shares of Consolidated Edison in a report on Thursday, May 21st. The Goldman Sachs Group reissued a “sell” rating and issued a $105.00 price target on shares of Consolidated Edison in a research report on Thursday, May 14th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Consolidated Edison from $107.00 to $113.00 and gave the stock an “underweight” rating in a research note on Thursday, March 12th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $107.79.

About Consolidated Edison

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.