SWS Partners Lowers Stake in Consolidated Edison Inc $ED

Key Points

• SWS Partners reduced its stake in Consolidated Edison Inc by 12.7%, ending the first quarter with 17,952 shares valued at approximately $1,985,000.
• Consolidated Edison reported a quarterly EPS of $0.67, exceeding estimates, and provided FY 2025 guidance of 5.500-5.700 EPS.
• The company declared a quarterly dividend of $0.85 per share, representing an annualized yield of 3.5% with a payout ratio of 61.71%.

SWS Partners lowered its stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 12.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 17,952 shares of the utilities provider's stock after selling 2,611 shares during the period. SWS Partners' holdings in Consolidated Edison were worth $1,985,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Glen Eagle Advisors LLC boosted its position in shares of Consolidated Edison by 6.2% during the 4th quarter. Glen Eagle Advisors LLC now owns 1,902 shares of the utilities provider's stock worth $170,000 after purchasing an additional 111 shares during the period. Western Wealth Management LLC boosted its position in Consolidated Edison by 0.7% in the 1st quarter. Western Wealth Management LLC now owns 16,101 shares of the utilities provider's stock valued at $1,781,000 after buying an additional 116 shares during the period. Eastern Bank boosted its position in Consolidated Edison by 2.9% in the 1st quarter. Eastern Bank now owns 4,294 shares of the utilities provider's stock valued at $475,000 after buying an additional 120 shares during the period. Cary Street Partners Investment Advisory LLC boosted its position in 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 valued at $34,000 after buying an additional 120 shares during the period. Finally, Integrated Advisors Network LLC boosted its position in Consolidated Edison by 1.6% in the 1st quarter. Integrated Advisors Network LLC now owns 7,842 shares of the utilities provider's stock valued at $867,000 after buying an additional 121 shares during the period. Hedge funds and other institutional investors own 66.29% of the company's stock.

Consolidated Edison Price Performance

Consolidated Edison stock opened at $97.05 on Thursday. The stock has a market cap of $35.00 billion, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 2.69 and a beta of 0.28. The company has a fifty day simple moving average of $101.02 and a 200-day simple moving average of $103.91. 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.

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

Consolidated Edison Announces Dividend

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 paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.5%. The ex-dividend date is Wednesday, August 13th. Consolidated Edison's dividend payout ratio (DPR) is currently 61.71%.

Wall Street Analyst Weigh In

Several equities analysts have commented on ED shares. Mizuho raised their price target on shares of Consolidated Edison from $107.00 to $112.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Barclays raised their price target on shares of Consolidated Edison from $101.00 to $107.00 and gave the company an "underweight" rating in a research report on Wednesday, August 13th. Bank of America cut shares of Consolidated Edison from a "buy" rating to an "underperform" rating and decreased their price target for the company from $112.00 to $101.00 in a research report on Friday, August 15th. Morgan Stanley reissued an "underweight" rating on shares of Consolidated Edison in a research report on Thursday, August 21st. Finally, Scotiabank raised 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 assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $105.82.

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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