Consolidated Edison Inc $ED Shares Sold by Drake & Associates LLC

Drake & Associates LLC reduced its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 30.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,906 shares of the utilities provider’s stock after selling 7,244 shares during the quarter. Drake & Associates LLC’s holdings in Consolidated Edison were worth $1,679,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Revolve Wealth Partners LLC increased its stake in shares of Consolidated Edison by 13.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after purchasing an additional 441 shares in the last quarter. Empowered Funds LLC lifted its stake in Consolidated Edison by 42.1% in the 1st quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock valued at $993,000 after buying an additional 2,659 shares in the last quarter. Woodline Partners LP grew its holdings in Consolidated Edison by 40.7% during the 1st quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock valued at $3,237,000 after buying an additional 8,468 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Consolidated Edison during the 2nd quarter valued at $3,256,000. Finally, Baird Financial Group Inc. grew its holdings in Consolidated Edison by 2.1% during the 2nd quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider’s stock valued at $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.

Consolidated Edison Stock Down 0.6%

ED stock opened at $106.36 on Friday. The company has a 50 day moving average price of $107.99 and a two-hundred day moving average price of $106.68. 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 market capitalization of $39.20 billion, a P/E ratio of 17.91, a PEG ratio of 2.72 and a beta of 0.27. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23.

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 analysts’ expectations of $5.22 billion. During the same period 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, sell-side analysts expect that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Dividend Announcement

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

Analysts Set New Price Targets

ED has been the subject of a number of analyst reports. Wells Fargo & Company set a $98.00 price target on Consolidated Edison in a report on Tuesday, April 21st. TD Cowen increased their price objective on Consolidated Edison from $105.00 to $112.00 and gave the company a “hold” rating in a research note on Tuesday, February 24th. Weiss Ratings raised Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. The Goldman Sachs Group reiterated a “sell” rating and set a $105.00 price objective on shares of Consolidated Edison in a research report on Thursday, May 14th. Finally, KeyCorp boosted their target price on shares of Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $107.79.

Consolidated Edison Company 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.