Consolidated Edison Inc $ED Stock: ProShare Advisors LLC Lowers Position

Key Points

• ProShare Advisors reduced its Consolidated Edison stake by 1.5% in the third quarter, selling 24,351 shares and retaining 1.57 million shares valued at approximately $160.4 million. Institutional investors collectively own 66.29% of ED.
• Analyst sentiment remains cautious: Consolidated Edison has a consensus “Reduce” rating, with four Buy, nine Hold, and six Sell ratings and an average price target of $108.09.
• Consolidated Edison reported quarterly EPS of $0.83, exceeding the $0.76 estimate, and announced a quarterly dividend of $0.8875 per share, equivalent to a 3.0% annualized yield.

ProShare Advisors LLC cut its stake in Consolidated Edison Inc (NYSE:ED - Free Report) by 1.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,569,455 shares of the utilities provider's stock after selling 24,351 shares during the period. ProShare Advisors LLC owned about 0.42% of Consolidated Edison worth $160,414,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vise Technologies Inc. boosted its holdings in shares of Consolidated Edison by 2.8% during the third quarter. Vise Technologies Inc. now owns 62,228 shares of the utilities provider's stock worth $6,360,000 after acquiring an additional 1,723 shares during the period. Cidel Asset Management Inc. lifted its holdings in Consolidated Edison by 3.6% during the 3rd quarter. Cidel Asset Management Inc. now owns 3,843 shares of the utilities provider's stock worth $393,000 after purchasing an additional 132 shares in the last quarter. Summit Global Investments boosted its stake in Consolidated Edison by 56.5% in the third quarter. Summit Global Investments now owns 64,930 shares of the utilities provider's stock worth $6,636,000 after buying an additional 23,442 shares in the last quarter. Modera Wealth Management LLC lifted its stake in Consolidated Edison by 200.2% in the third quarter. Modera Wealth Management LLC now owns 10,133 shares of the utilities provider's stock worth $1,036,000 after acquiring an additional 6,758 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in shares of Consolidated Edison by 3,407.6% during the third quarter. International Assets Investment Management LLC now owns 297,517 shares of the utilities provider's stock valued at $30,409,000 after buying an additional 289,035 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ED. KeyCorp reduced their target price on shares of Consolidated Edison from $94.00 to $87.00 and set an "underweight" rating on the stock in a research note on Tuesday, October 13th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Consolidated Edison in a research note on Monday, October 19th. LADENBURG THALM/SH SH upped their price objective on Consolidated Edison from $101.00 to $113.50 and gave the stock a "neutral" rating in a research report on Monday, July 13th. Morgan Stanley dropped their target price on Consolidated Edison from $101.00 to $97.00 and set an "underweight" rating on the stock in a report on Friday, September 18th. Finally, UBS Group raised their price objective on shares of Consolidated Edison from $118.00 to $124.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, Consolidated Edison currently has a consensus rating of "Reduce" and an average target price of $108.09.

Consolidated Edison Stock Up 1.1%

NYSE ED opened at $116.81 on Friday. The company has a market capitalization of $43.20 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 4.04 and a beta of 0.26. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 1.04. The stock's 50 day moving average is $107.73 and its two-hundred day moving average is $108.93. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $117.65.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.76 by $0.07. The firm had revenue of $4.07 billion during the quarter, compared to analysts' expectations of $3.60 billion. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. During the same quarter last year, the company posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities analysts forecast that Consolidated Edison Inc will post 6.10 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Wednesday, November 18th will be paid a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Wednesday, November 18th. Consolidated Edison's payout ratio is presently 58.29%.

Consolidated Edison Profile

Consolidated Edison, Inc is a diversified energy company headquartered in New York City. Through its regulated utility subsidiaries, the company delivers electricity, natural gas and steam to residential, commercial and industrial customers.

Its principal subsidiary, Consolidated Edison Company of New York, provides electric service throughout New York City and Westchester County, along with gas service in Manhattan, the Bronx, parts of Queens and Westchester County, and steam service in parts of Manhattan.

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