Consolidated Edison Inc $ED Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC reduced its stake in Consolidated Edison by 21.5% in the first quarter, now holding 1,294,585 shares valued at approximately $142.9 million.
• Analysts have mixed ratings for Consolidated Edison, with a consensus rating of "Hold" and an average target price of $105.82, with some firms adjusting their target prices in recent months.
• The company recently declared a quarterly dividend of $0.85 per share, resulting in an annualized dividend yield of 3.4%.

Hsbc Holdings PLC lessened its stake in Consolidated Edison Inc (NYSE:ED - Free Report) by 21.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,294,585 shares of the utilities provider's stock after selling 355,436 shares during the period. Hsbc Holdings PLC owned 0.36% of Consolidated Edison worth $142,936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Revolve Wealth Partners LLC raised its holdings in shares of Consolidated Edison by 13.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider's stock valued at $332,000 after buying an additional 441 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Consolidated Edison by 33.3% in the fourth quarter. NewEdge Advisors LLC now owns 21,584 shares of the utilities provider's stock valued at $1,926,000 after buying an additional 5,387 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Consolidated Edison by 9.5% in the fourth quarter. First Trust Advisors LP now owns 787,035 shares of the utilities provider's stock valued at $70,227,000 after buying an additional 68,004 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Consolidated Edison by 3.0% in 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 buying an additional 38,630 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Consolidated Edison by 146.1% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,227 shares of the utilities provider's stock valued at $1,269,000 after buying an additional 8,445 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company's stock.

Analysts Set New Price Targets

ED has been the subject of a number of research reports. Guggenheim upped their target price on shares of Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Bank of America cut shares of Consolidated Edison from a "buy" rating to an "underperform" rating and reduced their target price for the company from $112.00 to $101.00 in a report on Friday, August 15th. KeyCorp reaffirmed an "overweight" rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Wells Fargo & Company upped their target price on shares of Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Finally, Scotiabank upped their target price on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a "sector perform" rating in a report on Monday, August 11th. Three 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, Consolidated Edison presently has a consensus rating of "Hold" and an average target price of $105.82.

Consolidated Edison Trading Up 1.3%

Shares of Consolidated Edison stock opened at $101.0670 on Wednesday. Consolidated Edison Inc has a 12-month low of $87.28 and a 12-month high of $114.87. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The stock has a market cap of $36.45 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 2.77 and a beta of 0.24. The company has a 50-day moving average of $101.65 and a two-hundred day moving average of $103.63.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating 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 period last year, the company posted $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, research analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm 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. The ex-dividend date is Wednesday, August 13th. This represents a $3.40 annualized dividend and a dividend yield of 3.4%. Consolidated Edison's dividend payout ratio is currently 61.71%.

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.

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