HighTower Advisors LLC lessened its holdings in Consolidated Edison Inc (NYSE:ED - Free Report) by 6.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,580 shares of the utilities provider's stock after selling 8,832 shares during the quarter. HighTower Advisors LLC's holdings in Consolidated Edison were worth $14,662,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new position in Consolidated Edison during the 1st quarter worth approximately $32,000. Fort Vancouver Investment Management LLC bought a new position in Consolidated Edison during the 1st quarter worth approximately $33,000. Cary Street Partners Investment Advisory LLC raised its holdings in Consolidated Edison by 64.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider's stock worth $34,000 after purchasing an additional 120 shares during the last quarter. Wood Tarver Financial Group LLC bought a new position in Consolidated Edison during the 4th quarter worth approximately $35,000. Finally, Elite Financial Inc. bought a new position in Consolidated Edison during the 1st quarter worth approximately $38,000. Institutional investors own 66.29% of the company's stock.
Consolidated Edison Stock Down 0.2%
ED traded down $0.1850 during mid-day trading on Friday, reaching $101.3150. 745,881 shares of the stock were exchanged, compared to its average volume of 2,734,677. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. The stock has a market capitalization of $36.54 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 2.83 and a beta of 0.24. The company has a 50 day moving average price of $101.59 and a two-hundred day moving average price of $103.66. Consolidated Edison Inc has a 1 year low of $87.28 and a 1 year high of $114.87.
Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.01. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, research analysts anticipate 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. Investors of record on Wednesday, August 13th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, August 13th. Consolidated Edison's payout ratio is 61.71%.
Analyst Ratings Changes
Several analysts have recently weighed in on the stock. Barclays lifted 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. Bank of America lowered shares of Consolidated Edison from a "buy" rating to an "underperform" rating and lowered their price objective for the company from $112.00 to $101.00 in a research note on Friday, August 15th. KeyCorp reiterated an "overweight" rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Morgan Stanley lowered their price objective on shares of Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating for the company in a research note on Wednesday, June 18th. Finally, Scotiabank lifted their price target on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a "sector perform" rating in a research report on Monday, August 11th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $105.82.
Check Out Our Latest Stock Analysis on Consolidated Edison
About Consolidated Edison
(
Free Report)
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.
Read More
Before you consider Consolidated Edison, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Consolidated Edison wasn't on the list.
While Consolidated Edison currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access