HighTower Advisors LLC Sells 4,743 Shares of Consolidated Edison Inc $ED

HighTower Advisors LLC cut its stake in Consolidated Edison Inc (NYSE:ED) by 3.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 145,683 shares of the utilities provider’s stock after selling 4,743 shares during the period. HighTower Advisors LLC’s holdings in Consolidated Edison were worth $16,117,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in ED. QRG Capital Management Inc. increased its stake in Consolidated Edison by 16.9% in the 1st quarter. QRG Capital Management Inc. now owns 204,989 shares of the utilities provider’s stock valued at $23,201,000 after buying an additional 29,635 shares during the last quarter. North Dakota State Investment Board acquired a new position in Consolidated Edison during the fourth quarter worth $1,228,000. Los Angeles Capital Management LLC increased its holdings in Consolidated Edison by 9.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 253,230 shares of the utilities provider’s stock worth $24,865,000 after buying an additional 20,972 shares during the last quarter. M3 Wealth Management LLC bought a new stake in Consolidated Edison during the fourth quarter worth $1,380,000. Finally, SteelPeak Wealth LLC acquired a new stake in Consolidated Edison in the first quarter valued at $3,751,000. Institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. KeyCorp lowered their price objective on shares of Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating on the stock in a research note on Thursday, July 23rd. The Goldman Sachs Group reiterated a “sell” rating and set a $105.00 price target on shares of Consolidated Edison in a report on Thursday, May 14th. Barclays dropped their price objective on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a research note on Friday, August 7th. Mizuho set a $114.00 target price on Consolidated Edison in a research note on Monday, July 27th. Finally, Wells Fargo & Company increased their price target on Consolidated Edison from $106.00 to $108.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $108.93.

Consolidated Edison Stock Performance

Shares of NYSE:ED opened at $107.62 on Thursday. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $116.23. The company’s 50 day moving average price is $109.56 and its two-hundred day moving average price is $109.68. The firm has a market cap of $39.80 billion, a PE ratio of 17.67, a PEG ratio of 3.75 and a beta of 0.27. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.The business had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $3.60 billion. During the same period in the previous year, the company posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities research analysts predict that Consolidated Edison Inc will post 6.1 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Wednesday, August 19th will be given a $0.8875 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.3%. Consolidated Edison’s dividend payout ratio (DPR) is presently 58.29%.

Consolidated Edison Company Profile

Consolidated Edison, Inc is an energy delivery holding company headquartered in New York. Through its principal subsidiary, Consolidated Edison Company of New York, Inc, the company provides electric, natural gas and steam service to customers in New York City and Westchester County, New York.

Con Edison also operates Orange and Rockland Utilities, Inc, which supplies electric and natural gas service in parts of southeastern New York and northern New Jersey. Its utility operations include the generation, transmission and distribution of energy, as well as the maintenance of the infrastructure required to serve residential, commercial and industrial customers.

The company traces its roots to energy businesses that began operating in New York during the 19th century and adopted the Consolidated Edison name in the 1930s.