Kettle Hill Capital Management LLC Sells 82,078 Shares of Consolidated Edison Inc $ED

Kettle Hill Capital Management LLC trimmed its position in shares of Consolidated Edison Inc (NYSE:ED) by 57.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,036 shares of the utilities provider’s stock after selling 82,078 shares during the quarter. Consolidated Edison accounts for approximately 1.4% of Kettle Hill Capital Management LLC’s investment portfolio, making the stock its 28th largest position. Kettle Hill Capital Management LLC’s holdings in Consolidated Edison were worth $6,135,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Certuity LLC boosted its stake in shares of Consolidated Edison by 2.7% during the 2nd quarter. Certuity LLC now owns 3,743 shares of the utilities provider’s stock worth $376,000 after purchasing an additional 100 shares during the period. Stephens Inc. AR grew its holdings in 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 purchasing an additional 105 shares during the last quarter. Bridgewater Advisors Inc. raised its position in Consolidated Edison by 1.7% in the 3rd quarter. Bridgewater Advisors Inc. now owns 6,530 shares of the utilities provider’s stock worth $618,000 after purchasing an additional 107 shares during the period. HighPoint Advisor Group LLC raised its position 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 purchasing an additional 110 shares during the period. Finally, JFS Wealth Advisors LLC lifted its stake in Consolidated Edison by 36.4% in the third quarter. JFS Wealth Advisors LLC now owns 412 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 110 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of ED stock opened at $114.85 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.02 and a quick ratio of 0.94. The company has a market capitalization of $41.49 billion, a P/E ratio of 20.33, a P/E/G ratio of 3.08 and a beta of 0.38. The company’s 50-day simple moving average is $107.57 and its two-hundred day simple moving average is $101.92. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $115.37.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.03. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.71 billion. Consolidated Edison had a net margin of 11.95% and a return on equity of 8.50%. The company’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, equities analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Wednesday, February 18th will be given a dividend of $0.8875 per share. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $3.55 dividend on an annualized basis and a yield of 3.1%. Consolidated Edison’s dividend payout ratio is presently 62.83%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ED shares. Scotiabank boosted their target price on Consolidated Edison from $113.00 to $117.00 and gave the company a “sector perform” rating in a research report on Friday, February 20th. Morgan Stanley reiterated an “underweight” rating and issued a $102.00 price target on shares of Consolidated Edison in a report on Friday, February 20th. UBS Group raised their price target on Consolidated Edison from $108.00 to $112.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. TD Cowen boosted their price objective on Consolidated Edison from $105.00 to $112.00 and gave the company a “hold” rating in a report on Tuesday, February 24th. Finally, Mizuho set a $118.00 price objective on Consolidated Edison in a research report on Monday, February 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 company. Based on data from MarketBeat.com, Consolidated Edison has a consensus rating of “Reduce” and a consensus price target of $108.80.

Insiders Place Their Bets

In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $113.94, for a total value of $218,992.68. Following the completion of the sale, the senior vice president directly owned 32,453 shares in the company, valued at approximately $3,697,694.82. This represents a 5.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.17% of the stock is currently owned by company insiders.

Consolidated Edison 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.