Consolidated Edison (NYSE:ED) Director John Killian Sells 2,276 Shares

Consolidated Edison Inc (NYSE:ED) Director John Killian sold 2,276 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $96.89, for a total value of $220,521.64. Following the completion of the transaction, the director owned 38,661 shares in the company, valued at $3,745,864.29. The trade was a 5.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Consolidated Edison Stock Up 2.0%

Shares of ED opened at $97.55 on Friday. The business’s 50 day moving average is $99.29 and its 200 day moving average is $100.15. The company has a current ratio of 1.08, a quick ratio of 0.97 and a debt-to-equity ratio of 1.03. Consolidated Edison Inc has a 12-month low of $87.28 and a 12-month high of $114.87. The company has a market capitalization of $35.21 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 2.77 and a beta of 0.37.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data 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 quarter last year, the company posted $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Research analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

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

Institutional Trading of Consolidated Edison

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Lazard Asset Management LLC grew its holdings in shares of Consolidated Edison by 121,543.9% in the third quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock worth $599,155,000 after purchasing an additional 5,955,653 shares during the last quarter. Norges Bank purchased a new stake in Consolidated Edison in the 2nd quarter valued at about $462,218,000. ATLAS Infrastructure Partners UK Ltd. bought a new position in Consolidated Edison in the 1st quarter worth about $254,205,000. Vanguard Group Inc. increased its position in shares of Consolidated Edison by 4.5% during the second quarter. Vanguard Group Inc. now owns 45,040,811 shares of the utilities provider’s stock worth $4,519,845,000 after acquiring an additional 1,923,717 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Consolidated Edison by 215.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,688,480 shares of the utilities provider’s stock valued at $186,730,000 after acquiring an additional 1,152,892 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

ED has been the topic of a number of research analyst reports. Evercore ISI began coverage on Consolidated Edison in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 target price on the stock. Barclays reduced their price objective on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a research note on Monday, November 10th. Morgan Stanley reiterated an “underweight” rating and set a $98.00 target price on shares of Consolidated Edison in a research report on Thursday, November 20th. Bank of America cut shares of Consolidated Edison from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $112.00 to $101.00 in a research report on Friday, August 15th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a research report on Friday. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $103.69.

Consolidated Edison Company 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.