Consolidated Edison Inc $ED Shares Sold by Arete Wealth Advisors LLC

Arete Wealth Advisors LLC cut its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 5.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,874 shares of the utilities provider’s stock after selling 300 shares during the period. Arete Wealth Advisors LLC’s holdings in Consolidated Edison were worth $539,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ED. Alpine Bank Wealth Management acquired a new position in Consolidated Edison in the first quarter worth about $32,000. Fort Vancouver Investment Management LLC acquired a new position in Consolidated Edison in the first quarter worth about $33,000. Financial Network Wealth Advisors LLC acquired a new position in Consolidated Edison in the first quarter worth about $33,000. Cary Street Partners Investment Advisory LLC grew its stake in Consolidated Edison by 64.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 120 shares in the last quarter. Finally, Wood Tarver Financial Group LLC acquired a new position in Consolidated Edison in the fourth quarter worth about $35,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ED shares. Morgan Stanley reiterated an “underweight” rating on shares of Consolidated Edison in a research note on Thursday, August 21st. Mizuho lifted their target price on Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Bank of America downgraded Consolidated Edison from a “buy” rating to an “underperform” rating and decreased their target price for the company from $112.00 to $101.00 in a research note on Friday, August 15th. KeyCorp restated an “overweight” rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Finally, Scotiabank lifted their target price on Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a research note on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $105.82.

Consolidated Edison Stock Performance

ED opened at $97.00 on Wednesday. The business’s 50 day moving average is $101.07 and its 200-day moving average is $103.96. The stock has a market cap of $34.98 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 2.69 and a beta of 0.28. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.During the same quarter in the previous year, the company posted $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, August 13th. Consolidated Edison’s payout ratio is 61.71%.

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.