Consolidated Edison Inc $ED Shares Sold by First Trust Advisors LP

First Trust Advisors LP decreased its position in shares of Consolidated Edison Inc (NYSE:ED) by 17.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,020,097 shares of the utilities provider’s stock after selling 218,342 shares during the quarter. First Trust Advisors LP owned 0.28% of Consolidated Edison worth $102,367,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ED. Golden State Wealth Management LLC lifted its stake in Consolidated Edison by 13.6% during the 2nd quarter. Golden State Wealth Management LLC now owns 837 shares of the utilities provider’s stock valued at $84,000 after acquiring an additional 100 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of Consolidated Edison by 1.0% during the second quarter. Exchange Traded Concepts LLC now owns 11,050 shares of the utilities provider’s stock worth $1,109,000 after purchasing an additional 109 shares during the last quarter. Capital Advisors Ltd. LLC lifted its position in Consolidated Edison by 53.2% during the second quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 109 shares during the period. Farther Finance Advisors LLC lifted its position in Consolidated Edison by 1.3% during the second quarter. Farther Finance Advisors LLC now owns 8,896 shares of the utilities provider’s stock valued at $893,000 after purchasing an additional 110 shares during the period. Finally, Raab & Moskowitz Asset Management LLC boosted its holdings in Consolidated Edison by 2.5% in the second quarter. Raab & Moskowitz Asset Management LLC now owns 4,751 shares of the utilities provider’s stock valued at $477,000 after purchasing an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ED shares. Morgan Stanley reissued an “underweight” rating and issued a $98.00 price objective on shares of Consolidated Edison in a report on Thursday, November 20th. KeyCorp lifted their price target on Consolidated Edison from $88.00 to $90.00 and gave the company an “underweight” rating in a research report on Wednesday, October 15th. Mizuho upped their price objective on Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Barclays cut their target price on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a report on Monday, November 10th. Finally, Wells Fargo & Company upgraded shares of Consolidated Edison to a “hold” rating in a research note on Tuesday, October 28th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Consolidated Edison currently has a consensus rating of “Reduce” and an average price target of $104.58.

Consolidated Edison Stock Up 0.3%

Consolidated Edison stock opened at $96.53 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.08 and a quick ratio of 0.97. The stock has a market capitalization of $34.84 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 2.79 and a beta of 0.37. The business has a 50 day simple moving average of $99.59 and a 200-day simple moving average of $100.44. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.14. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.79%. During the same period in the previous year, the company posted $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.5%. Consolidated Edison’s payout ratio is currently 59.44%.

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.