AlphaQuest LLC Trims Position in Consolidated Edison Inc $ED

Key Points

• AlphaQuest LLC significantly reduced its stake in Consolidated Edison Inc, selling 39,036 shares and decreasing its position by 94.3% during the first quarter, leaving it with only 2,356 shares valued at approximately $261,000.
• Consolidated Edison reported a quarterly EPS of $0.67, exceeding expectations, with revenue of $3.60 billion for the period and set its FY 2025 EPS guidance between $5.500 and $5.700.
• The company announced a quarterly dividend of $0.85 per share, representing an annualized yield of 3.5%, with a payout ratio of 61.71%.

AlphaQuest LLC decreased its position in Consolidated Edison Inc (NYSE:ED - Free Report) by 94.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,356 shares of the utilities provider's stock after selling 39,036 shares during the period. AlphaQuest LLC's holdings in Consolidated Edison were worth $261,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ED. Deutsche Bank AG boosted its holdings in shares of Consolidated Edison by 130.6% in the first quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider's stock valued at $434,266,000 after acquiring an additional 2,223,959 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Consolidated Edison by 106.9% in the first quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider's stock valued at $308,643,000 after acquiring an additional 1,441,785 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Consolidated Edison in the first quarter valued at about $146,073,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Consolidated Edison by 215.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,688,480 shares of the utilities provider's stock valued at $186,730,000 after acquiring an additional 1,152,892 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Consolidated Edison by 15,937.5% in the first quarter. GAMMA Investing LLC now owns 1,022,073 shares of the utilities provider's stock valued at $113,031,000 after purchasing an additional 1,015,700 shares during the period. Hedge funds and other institutional investors own 66.29% of the company's stock.

Consolidated Edison Price Performance

ED traded up $0.36 during midday trading on Wednesday, reaching $97.56. 2,331,118 shares of the company's stock were exchanged, compared to its average volume of 2,764,677. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01. The stock has a market capitalization of $35.18 billion, a PE ratio of 17.69, a P/E/G ratio of 2.73 and a beta of 0.28. The business's 50-day moving average price is $101.24 and its 200 day moving average price is $103.91. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.01. The company had revenue of $3.60 billion during the quarter, compared to analysts' expectations of $3.39 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same quarter in the previous year, the business posted $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, equities analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th will be given a dividend of $0.85 per share. The ex-dividend date is Wednesday, August 13th. This represents a $3.40 dividend on an annualized basis and a yield of 3.5%. Consolidated Edison's payout ratio is presently 61.71%.

Analyst Upgrades and Downgrades

Several analysts recently commented on ED shares. Bank of America cut shares of Consolidated Edison from a "buy" rating to an "underperform" rating and reduced their price objective for the company from $112.00 to $101.00 in a research note on Friday, August 15th. Barclays raised their price objective on shares of Consolidated Edison from $101.00 to $107.00 and gave the company an "underweight" rating in a research note on Wednesday, August 13th. Mizuho raised their price objective on shares of Consolidated Edison from $107.00 to $112.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. KeyCorp reiterated an "overweight" rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Finally, Scotiabank raised their price objective on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a "sector perform" rating in a research note on Monday, August 11th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $105.82.

Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.