Integrated Wealth Concepts LLC Cuts Stake in Consolidated Edison Inc $ED

Key Points

• Integrated Wealth Concepts LLC has reduced its holdings in Consolidated Edison Inc by 6.3%, now owning 40,381 shares valued at approximately $4.47 million.
• Consolidated Edison reported a Q2 EPS of $0.67, surpassing analysts' expectations and setting its FY 2025 guidance at $5.500-$5.700 EPS.
• The company declared a quarterly dividend of $0.85 per share, with a dividend yield of 3.5% and a payout ratio of 61.71%.

Integrated Wealth Concepts LLC decreased its holdings in Consolidated Edison Inc (NYSE:ED - Free Report) by 6.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,381 shares of the utilities provider's stock after selling 2,723 shares during the period. Integrated Wealth Concepts LLC's holdings in Consolidated Edison were worth $4,466,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ED. Revolve Wealth Partners LLC increased its stake 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 worth $332,000 after purchasing an additional 441 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Consolidated Edison by 1.7% in the fourth quarter. Ameriprise Financial Inc. now owns 198,994 shares of the utilities provider's stock worth $17,767,000 after purchasing an additional 3,275 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of Consolidated Edison by 5.2% in the fourth quarter. Captrust Financial Advisors now owns 40,255 shares of the utilities provider's stock worth $3,592,000 after purchasing an additional 1,995 shares in the last quarter. Brevan Howard Capital Management LP purchased a new position in shares of Consolidated Edison in the fourth quarter worth about $476,000. Finally, Deutsche Bank AG grew its stake in Consolidated Edison by 22.1% during the fourth quarter. Deutsche Bank AG now owns 1,702,855 shares of the utilities provider's stock valued at $151,946,000 after acquiring an additional 308,683 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company's stock.

Consolidated Edison Price Performance

ED stock traded up $0.03 during midday trading on Friday, reaching $97.73. The company had a trading volume of 321,030 shares, compared to its average volume of 2,727,339. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01. Consolidated Edison Inc has a 1 year low of $87.28 and a 1 year high of $114.87. The company has a market capitalization of $35.25 billion, a P/E ratio of 17.73, a P/E/G ratio of 2.70 and a beta of 0.28. The firm has a 50-day moving average price of $100.97 and a 200-day moving average price of $103.90.

Consolidated Edison (NYSE:ED - Get Free Report) last released 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. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. The business had revenue of $3.60 billion during the quarter, compared to analysts' expectations of $3.39 billion. During the same quarter in the previous year, the company earned $0.59 EPS. 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 earnings per share for the current fiscal 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 paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, August 13th. Consolidated Edison's payout ratio is currently 61.71%.

Wall Street Analysts Forecast Growth

ED has been the subject of several recent analyst reports. KeyCorp reaffirmed an "overweight" rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Mizuho boosted 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. Scotiabank boosted 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. Barclays boosted 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. Finally, Morgan Stanley reaffirmed an "underweight" rating on shares of Consolidated Edison in a research note on Thursday, August 21st. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, Consolidated Edison presently has an average rating of "Hold" and a consensus target price 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.