Prime Capital Investment Advisors LLC Trims Stock Position in Consolidated Edison Inc $ED

Prime Capital Investment Advisors LLC lowered its position in shares of Consolidated Edison Inc (NYSE:ED) by 5.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,634 shares of the utilities provider’s stock after selling 319 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Consolidated Edison were worth $565,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Ritholtz Wealth Management purchased a new position in Consolidated Edison during the first quarter valued at approximately $227,000. Wealth Enhancement Advisory Services LLC grew its stake in Consolidated Edison by 2.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 250,014 shares of the utilities provider’s stock valued at $27,649,000 after acquiring an additional 6,869 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in Consolidated Edison during the first quarter valued at approximately $217,000. AG2R LA Mondiale Gestion D Actifs purchased a new position in Consolidated Edison during the first quarter valued at approximately $1,631,000. Finally, GAMMA Investing LLC lifted its position in Consolidated Edison by 45.0% during the first quarter. GAMMA Investing LLC now owns 9,242 shares of the utilities provider’s stock valued at $1,022,000 after purchasing an additional 2,869 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 1.5%

Shares of ED opened at $102.36 on Friday. The firm has a market cap of $36.92 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 2.80 and a beta of 0.32. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. Consolidated Edison Inc has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The firm has a 50 day moving average price of $99.73 and a 200-day moving average price of $103.06.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.39 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same period in the previous year, the business posted $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, equities research analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Wednesday, August 13th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Wednesday, August 13th. Consolidated Edison’s dividend payout ratio is currently 61.71%.

Analysts Set New Price Targets

Several brokerages have issued reports on ED. Bank of America lowered shares of Consolidated Edison from a “buy” rating to an “underperform” rating and dropped their target price for the company from $112.00 to $101.00 in a research report on Friday, August 15th. Barclays lifted their target price on shares of Consolidated Edison from $101.00 to $107.00 and gave the company an “underweight” rating in a research report on Wednesday, August 13th. Scotiabank lifted their target price on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a research report on Monday, August 11th. Morgan Stanley dropped their target price on shares of Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating for the company in a research report on Thursday, September 25th. Finally, Evercore ISI began coverage on shares of Consolidated Edison in a research report on Tuesday. They set an “in-line” rating and a $106.00 target price for the company. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $105.75.

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.