BI Asset Management Fondsmaeglerselskab A S Sells 4,947 Shares of Consolidated Edison Inc $ED

Key Points

• BI Asset Management Fondsmaeglerselskab A S sold 4,947 shares of Consolidated Edison Inc, reducing its stake by 34.8% to 9,280 shares, valued at approximately $1,026,000.
• Consolidated Edison reported a quarterly EPS of $0.67, surpassing analysts' estimates, with a revenue of $3.60 billion for the quarter.
• The company declared a quarterly dividend of $0.85, scheduled for payment on September 15th, reflecting an annual yield of 3.3% and a payout ratio of 61.71%.

BI Asset Management Fondsmaeglerselskab A S trimmed its stake in Consolidated Edison Inc (NYSE:ED - Free Report) by 34.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,280 shares of the utilities provider's stock after selling 4,947 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Consolidated Edison were worth $1,026,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ED. Revolve Wealth Partners LLC lifted its holdings in shares of Consolidated Edison by 13.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider's stock valued at $332,000 after purchasing an additional 441 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Consolidated Edison by 3.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,314,463 shares of the utilities provider's stock valued at $117,288,000 after purchasing an additional 38,630 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of Consolidated Edison by 4.1% during the fourth quarter. Stifel Financial Corp now owns 116,515 shares of the utilities provider's stock valued at $10,397,000 after purchasing an additional 4,625 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Consolidated Edison by 1.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 535,588 shares of the utilities provider's stock valued at $47,792,000 after purchasing an additional 7,407 shares in the last quarter. Finally, MGO One Seven LLC lifted its holdings in shares of Consolidated Edison by 9.2% during the fourth quarter. MGO One Seven LLC now owns 5,235 shares of the utilities provider's stock valued at $467,000 after purchasing an additional 441 shares in the last quarter. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Up 0.1%

Consolidated Edison stock opened at $101.5520 on Friday. The stock has a market cap of $36.62 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 2.82 and a beta of 0.24. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. Consolidated Edison Inc has a one year low of $87.28 and a one year high of $114.87. The stock has a fifty day moving average of $101.54 and a 200 day moving average of $103.71.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.01. The business had revenue of $3.60 billion during the quarter, compared to analysts' expectations of $3.39 billion. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.During the same quarter in the prior 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, sell-side analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th will be given a $0.85 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $3.40 dividend on an annualized basis and a yield of 3.3%. Consolidated Edison's dividend payout ratio is presently 61.71%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ED. Wells Fargo & Company upped their price target on Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Barclays upped their price target on Consolidated Edison from $101.00 to $107.00 and gave the company an "underweight" rating in a report on Wednesday, August 13th. Scotiabank upped their price objective on Consolidated Edison from $101.00 to $106.00 and gave the company a "sector perform" rating in a research report on Monday, August 11th. KeyCorp reiterated an "overweight" rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Finally, Guggenheim upped their price objective on Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $105.82.

Consolidated Edison 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.