Simon Quick Advisors LLC Sells 15,600 Shares of Consolidated Edison Inc $ED

Simon Quick Advisors LLC lowered its position in shares of Consolidated Edison Inc (NYSE:ED) by 82.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,300 shares of the utilities provider’s stock after selling 15,600 shares during the period. Simon Quick Advisors LLC’s holdings in Consolidated Edison were worth $328,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ED. Meadowbrook Wealth Management LLC increased its stake in shares of Consolidated Edison by 2.2% in the fourth quarter. Meadowbrook Wealth Management LLC now owns 4,687 shares of the utilities provider’s stock worth $466,000 after purchasing an additional 100 shares in the last quarter. Stephens Inc. AR lifted its stake in shares of Consolidated Edison by 0.8% during the 3rd 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 in the last quarter. Bridgewater Advisors Inc. boosted its holdings in Consolidated Edison by 1.6% in the 4th quarter. Bridgewater Advisors Inc. now owns 6,635 shares of the utilities provider’s stock worth $689,000 after buying an additional 105 shares during the period. HighPoint Advisor Group LLC boosted its holdings in Consolidated Edison by 0.7% in the 3rd quarter. HighPoint Advisor Group LLC now owns 14,811 shares of the utilities provider’s stock worth $1,489,000 after buying an additional 110 shares during the period. Finally, JFS Wealth Advisors LLC increased its stake in Consolidated Edison by 36.4% in the 3rd quarter. JFS Wealth Advisors LLC now owns 412 shares of the utilities provider’s stock worth $41,000 after buying an additional 110 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wells Fargo & Company set a $98.00 price target on Consolidated Edison in a report on Tuesday, April 21st. UBS Group upped their price objective on Consolidated Edison from $108.00 to $112.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. Scotiabank increased their target price on Consolidated Edison from $113.00 to $117.00 and gave the stock a “sector perform” rating in a research report on Friday, February 20th. Mizuho set a $118.00 target price on Consolidated Edison in a research note on Monday, February 23rd. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $118.00 price target on shares of Consolidated Edison in a report on Friday, January 23rd. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $108.50.

Insider Activity at Consolidated Edison

In related news, SVP Deneen L. Donnley sold 1,922 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $113.94, for a total transaction of $218,992.68. Following the completion of the transaction, the senior vice president directly owned 32,453 shares of the company’s stock, valued at approximately $3,697,694.82. This represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.15% of the company’s stock.

Consolidated Edison Stock Performance

ED opened at $109.09 on Monday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 1.02. The stock has a market capitalization of $40.19 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 2.77 and a beta of 0.34. The company has a fifty day moving average of $112.00 and a 200 day moving average of $104.88. Consolidated Edison Inc has a fifty-two week low of $94.96 and a fifty-two week high of $116.23.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, February 19th. The utilities provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.86 by $0.03. Consolidated Edison had a net margin of 11.95% and a return on equity of 8.50%. The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter in the previous year, the company earned $0.98 EPS. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, sell-side analysts forecast that Consolidated Edison Inc will post 6.08 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Wednesday, May 13th will be given a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, May 13th. Consolidated Edison’s payout ratio is currently 62.83%.

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.