Yousif Capital Management LLC Cuts Stock Position in Consolidated Edison Inc $ED

Key Points

• Yousif Capital Management LLC reduced its stake in Consolidated Edison Inc by 5.7%, now holding 128,654 shares valued at approximately $12.91 million.
• Consolidated Edison reported earnings of $0.67 per share, surpassing analysts' estimates of $0.66, and had revenue of $3.60 billion for the quarter.
• The company declared a quarterly dividend of $0.85 per share, resulting in an annualized yield of 3.4% and a payout ratio of 61.71%.

Yousif Capital Management LLC cut its holdings in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 5.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,654 shares of the utilities provider's stock after selling 7,758 shares during the period. Yousif Capital Management LLC's holdings in Consolidated Edison were worth $12,910,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Almanack Investment Partners LLC. purchased a new stake in shares of Consolidated Edison during the second quarter worth approximately $3,241,000. GW Henssler & Associates Ltd. increased its stake in shares of Consolidated Edison by 13.7% during the second quarter. GW Henssler & Associates Ltd. now owns 3,310 shares of the utilities provider's stock worth $332,000 after buying an additional 400 shares during the period. OFI Invest Asset Management purchased a new stake in shares of Consolidated Edison during the second quarter worth approximately $93,000. Vanguard Personalized Indexing Management LLC increased its stake in shares of Consolidated Edison by 12.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 70,854 shares of the utilities provider's stock worth $7,111,000 after buying an additional 7,761 shares during the period. Finally, Concurrent Investment Advisors LLC increased its stake in shares of Consolidated Edison by 4.0% during the second quarter. Concurrent Investment Advisors LLC now owns 8,335 shares of the utilities provider's stock worth $836,000 after buying an additional 324 shares during the period. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Stock Performance

Shares of ED opened at $100.85 on Tuesday. The company has a market capitalization of $36.37 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 2.85 and a beta of 0.32. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week high of $114.87. The stock has a 50 day moving average price of $99.64 and a 200 day moving average price of $102.94. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its earnings results 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. 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 for the quarter, compared to analyst estimates of $3.39 billion. During the same period last year, the firm posted $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Research analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Wednesday, August 13th. Consolidated Edison's dividend payout ratio (DPR) is presently 61.71%.

Analysts Set New Price Targets

A number of analysts recently weighed in on ED shares. Evercore ISI started coverage on shares of Consolidated Edison in a research note on Tuesday, October 7th. They set an "in-line" rating and a $106.00 target price on the stock. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Consolidated Edison in a report on Wednesday, October 8th. Mizuho upped their price target on Consolidated Edison from $107.00 to $112.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Morgan Stanley lowered their price target on Consolidated Edison from $95.00 to $93.00 and set an "underweight" rating for the company in a report on Thursday, September 25th. Finally, KeyCorp reaffirmed an "overweight" rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Consolidated Edison has a consensus rating of "Hold" and an average target price of $105.75.

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.

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