Strs Ohio Has $866,000 Stake in Consolidated Edison Inc $ED

Strs Ohio reduced its stake in shares of Consolidated Edison Inc (NYSE:ED) by 75.6% in the 3rd quarter, Holdings Channel reports. The firm owned 8,619 shares of the utilities provider’s stock after selling 26,656 shares during the quarter. Strs Ohio’s holdings in Consolidated Edison were worth $866,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC lifted its position in shares of Consolidated Edison by 13.6% in the 2nd quarter. Golden State Wealth Management LLC now owns 837 shares of the utilities provider’s stock worth $84,000 after purchasing an additional 100 shares during the period. Certuity LLC raised its stake in Consolidated Edison by 2.7% during the second quarter. Certuity LLC now owns 3,743 shares of the utilities provider’s stock worth $376,000 after buying an additional 100 shares during the last quarter. Stephens Inc. AR lifted its holdings in Consolidated Edison by 0.8% in the third quarter. Stephens Inc. AR now owns 13,791 shares of the utilities provider’s stock valued at $1,386,000 after buying an additional 105 shares during the period. Capital Advisors Ltd. LLC boosted 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 acquiring an additional 109 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its position in Consolidated Edison by 3.2% during the third quarter. Fifth Third Wealth Advisors LLC now owns 3,613 shares of the utilities provider’s stock valued at $363,000 after acquiring an additional 111 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ED shares. Morgan Stanley reissued an “underweight” rating and issued a $96.00 price objective on shares of Consolidated Edison in a research report on Wednesday, January 21st. Barclays lowered their target price on Consolidated Edison from $101.00 to $100.00 and set an “underweight” rating for the company in a report on Thursday, January 22nd. KeyCorp cut their price target on Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating on the stock in a report on Friday, December 12th. TD Cowen initiated coverage on shares of Consolidated Edison in a research report on Friday, January 9th. They set a “hold” rating and a $105.00 price objective for the company. Finally, UBS Group boosted their target price on shares of Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $104.20.

Insider Activity at Consolidated Edison

In related news, Director John F. Killian sold 2,276 shares of the company’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 sale, the director owned 38,661 shares in the company, valued at $3,745,864.29. This represents a 5.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.17% of the stock is currently owned by insiders.

Consolidated Edison Trading Down 0.2%

NYSE ED opened at $105.11 on Thursday. The company has a market cap of $37.94 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 2.87 and a beta of 0.39. Consolidated Edison Inc has a 52 week low of $92.29 and a 52 week high of $114.87. The business has a 50 day moving average price of $99.83 and a 200-day moving average price of $100.04. The company has a quick ratio of 0.97, a current ratio of 1.08 and a debt-to-equity ratio of 1.03.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.14. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.27%.The company had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.22 billion. During the same period last year, the business earned $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. As a group, equities analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Wednesday, February 18th will be issued a dividend of $0.8875 per share. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.85. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Wednesday, February 18th. Consolidated Edison’s dividend payout ratio is 59.44%.

About Consolidated Edison

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.