Consolidated Edison Inc $ED Shares Sold by Drake & Associates LLC

Drake & Associates LLC trimmed its stake in Consolidated Edison Inc (NYSE:ED) by 30.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,906 shares of the utilities provider’s stock after selling 7,244 shares during the quarter. Drake & Associates LLC’s holdings in Consolidated Edison were worth $1,679,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Basepoint Wealth LLC purchased a new stake in shares of Consolidated Edison during the 4th quarter valued at $26,000. JPL Wealth Management LLC acquired a new stake in shares of Consolidated Edison during the 3rd quarter worth $26,000. Aventura Private Wealth LLC purchased a new position in shares of Consolidated Edison in the 4th quarter worth $27,000. Westfuller Advisors LLC purchased a new position in shares of Consolidated Edison in the 4th quarter worth $27,000. Finally, Dorato Capital Management acquired a new position in Consolidated Edison in the fourth quarter valued at $28,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of ED stock opened at $106.36 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00. The company has a market cap of $39.20 billion, a PE ratio of 17.91, a P/E/G ratio of 2.72 and a beta of 0.27. The company’s fifty day simple moving average is $107.99 and its 200-day simple moving average is $106.68. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $116.23.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, May 7th. The utilities provider reported $2.18 earnings per share for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.10). Consolidated Edison had a return on equity of 8.33% and a net margin of 12.52%.The business had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same period last year, the company posted $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, equities research analysts anticipate that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th were paid a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Wednesday, May 13th. Consolidated Edison’s payout ratio is currently 59.76%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price target on Consolidated Edison from $107.00 to $113.00 and gave the company an “underweight” rating in a research report on Thursday, March 12th. TD Cowen raised their price objective on Consolidated Edison from $105.00 to $112.00 and gave the stock a “hold” rating in a report on Tuesday, February 24th. Scotiabank lifted their price objective on Consolidated Edison from $113.00 to $117.00 and gave the company a “sector perform” rating in a research note on Friday, February 20th. Evercore set a $116.00 price objective on Consolidated Edison in a research note on Monday, May 11th. Finally, Bank of America reiterated an “underperform” rating and set a $104.00 target price on shares of Consolidated Edison in a report on Wednesday, February 25th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $107.79.

Consolidated Edison Company Profile

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.