Trexquant Investment LP Has $13.38 Million Stock Position in Consolidated Edison Inc $ED

Key Points

• Trexquant Investment LP reduced its holdings in Consolidated Edison Inc by 15.9% in the first quarter, now owning 120,989 shares valued at approximately $13.38 million.
• Several institutional investors have increased their stakes in Consolidated Edison, with Deutsche Bank AG raising its stake by 130.6% in Q1.
• The company reported a quarterly EPS of $0.67, exceeding estimates, alongside a quarterly revenue of $3.60 billion, surpassing expectations of $3.39 billion.

Trexquant Investment LP cut its position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 15.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 120,989 shares of the utilities provider's stock after selling 22,793 shares during the quarter. Trexquant Investment LP's holdings in Consolidated Edison were worth $13,380,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Glen Eagle Advisors LLC boosted its position in shares of Consolidated Edison by 6.2% in the fourth quarter. Glen Eagle Advisors LLC now owns 1,902 shares of the utilities provider's stock worth $170,000 after acquiring an additional 111 shares during the last quarter. Western Wealth Management LLC lifted its position in Consolidated Edison by 0.7% during the first 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 in the last quarter. Eastern Bank lifted its position in Consolidated Edison by 2.9% during the first quarter. Eastern Bank now owns 4,294 shares of the utilities provider's stock valued at $475,000 after buying an additional 120 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its position in Consolidated Edison by 64.9% during the first 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 in the last quarter. Finally, Integrated Advisors Network LLC lifted its position in Consolidated Edison by 1.6% during the first 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 in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Down 1.3%

Shares of ED traded down $1.25 during trading hours on Tuesday, reaching $96.98. The company's stock had a trading volume of 1,457,839 shares, compared to its average volume of 2,757,738. The firm has a market cap of $34.98 billion, a price-to-earnings ratio of 17.57, a P/E/G ratio of 2.73 and a beta of 0.28. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year high of $114.87. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. The company has a 50 day moving average of $101.30 and a two-hundred day moving average of $103.96.

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 for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the prior year, the company earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, research analysts predict that Consolidated Edison Inc will post 5.62 EPS 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 issued 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 61.71%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. 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. Morgan Stanley reissued an "underweight" rating on shares of Consolidated Edison in a research report on Thursday, August 21st. KeyCorp reissued an "overweight" rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Bank of America cut shares of Consolidated Edison from a "buy" rating to an "underperform" rating and reduced their target price for the stock from $112.00 to $101.00 in a research report on Friday, August 15th. Finally, Mizuho lifted their price target on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Three investment 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.com, the company has an average rating of "Hold" and a consensus target price of $105.82.

About Consolidated Edison

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.