Consolidated Edison Inc $ED Shares Sold by Diversified Trust Co

Diversified Trust Co cut its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 22.0% in the first quarter, HoldingsChannel.com reports. The firm owned 31,520 shares of the utilities provider’s stock after selling 8,891 shares during the quarter. Diversified Trust Co’s holdings in Consolidated Edison were worth $3,567,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. IFP Advisors Inc boosted its position in shares of Consolidated Edison by 194.5% during the 3rd quarter. IFP Advisors Inc now owns 15,208 shares of the utilities provider’s stock worth $1,559,000 after purchasing an additional 10,044 shares during the period. Strive Asset Management LLC acquired a new stake in Consolidated Edison in the 3rd quarter valued at approximately $1,005,000. North Dakota State Investment Board purchased a new stake in Consolidated Edison in the fourth quarter valued at approximately $1,228,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Consolidated Edison by 5.6% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 776,533 shares of the utilities provider’s stock valued at $78,057,000 after purchasing an additional 40,838 shares during the period. Finally, AIA Group Ltd lifted its stake in Consolidated Edison by 99.5% during the third quarter. AIA Group Ltd now owns 46,786 shares of the utilities provider’s stock worth $4,703,000 after purchasing an additional 23,337 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

Consolidated Edison stock opened at $106.36 on Monday. The firm has a market cap of $39.20 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 2.70 and a beta of 0.27. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $116.23. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00. The company’s 50 day moving average is $107.84 and its two-hundred day moving average is $106.74.

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

Consolidated Edison Dividend Announcement

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

Analyst Ratings Changes

Several research firms have recently commented on ED. KeyCorp raised their price target on Consolidated Edison from $96.00 to $97.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 21st. Weiss Ratings upgraded Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Citigroup reissued a “buy” rating on shares of Consolidated Edison in a research note on Monday, February 23rd. Morgan Stanley set a $99.00 target price on Consolidated Edison in a research note on Thursday, May 21st. Finally, Barclays lowered their target price on Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating for the company in a report on Monday, May 11th. Two equities research 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, the company currently has an average rating of “Reduce” and an average target price 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.