Candriam S.C.A. Sells 12,877 Shares of Consolidated Edison Inc $ED

Key Points

• Candriam S.C.A. has reduced its holdings in Consolidated Edison Inc by 14%, selling 12,877 shares, leaving them with 79,072 shares worth approximately $8.75 million.
• Consolidated Edison recently reported earnings of $0.67 per share, exceeding estimates, and its revenue reached $3.60 billion, surpassing analyst predictions.
• The company declared a quarterly dividend of $0.85, with a dividend yield of 3.4%, set to be paid on September 15th.

Candriam S.C.A. lessened its stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 14.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 79,072 shares of the utilities provider's stock after selling 12,877 shares during the quarter. Candriam S.C.A.'s holdings in Consolidated Edison were worth $8,745,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Alpine Bank Wealth Management acquired a new position in shares of Consolidated Edison during the 1st quarter worth about $32,000. Fort Vancouver Investment Management LLC acquired a new position in Consolidated Edison in the 1st quarter valued at approximately $33,000. Financial Network Wealth Advisors LLC acquired a new position in Consolidated Edison in the 1st quarter valued at approximately $33,000. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Consolidated Edison by 64.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider's stock worth $34,000 after buying an additional 120 shares in the last quarter. Finally, Wood Tarver Financial Group LLC acquired a new position in shares of Consolidated Edison in the 4th quarter worth approximately $35,000. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Stock Down 0.3%

NYSE:ED opened at $101.4540 on Friday. Consolidated Edison Inc has a 12-month low of $87.28 and a 12-month high of $114.87. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $36.59 billion, a P/E ratio of 18.41, a P/E/G ratio of 2.83 and a beta of 0.24. The stock's fifty day simple moving average is $101.59 and its 200-day simple moving average is $103.66.

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

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Wednesday, August 13th. Consolidated Edison's dividend payout ratio (DPR) is currently 61.71%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ED shares. KeyCorp reissued an "overweight" rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Scotiabank increased their price target on Consolidated Edison from $101.00 to $106.00 and gave the stock a "sector perform" rating in a research report on Monday, August 11th. Barclays increased their price objective on Consolidated Edison from $101.00 to $107.00 and gave the company an "underweight" rating in a research report on Wednesday, August 13th. Wells Fargo & Company increased their price objective on Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Finally, Guggenheim increased 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 investment 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. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $105.82.

About Consolidated Edison

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.

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