Consolidated Edison Inc $ED Stock Position Cut by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. cut its stake in Consolidated Edison Inc (NYSE:ED) by 8.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,952 shares of the utilities provider’s stock after selling 948 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Consolidated Edison were worth $999,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Exchange Traded Concepts LLC boosted its stake in Consolidated Edison by 1.0% during the 2nd quarter. Exchange Traded Concepts LLC now owns 11,050 shares of the utilities provider’s stock valued at $1,109,000 after purchasing an additional 109 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in Consolidated Edison by 53.2% during the second quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock valued at $32,000 after buying an additional 109 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Consolidated Edison by 1.3% during the second quarter. Farther Finance Advisors LLC now owns 8,896 shares of the utilities provider’s stock valued at $893,000 after buying an additional 110 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its stake in Consolidated Edison by 1.5% during the second quarter. Avidian Wealth Enterprises LLC now owns 8,216 shares of the utilities provider’s stock valued at $824,000 after buying an additional 119 shares in the last quarter. Finally, Eastern Bank boosted its position in shares of Consolidated Edison by 2.9% during the 1st quarter. Eastern Bank now owns 4,294 shares of the utilities provider’s stock valued at $475,000 after purchasing an additional 120 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company upgraded shares of Consolidated Edison to a “hold” rating in a research report on Tuesday, October 28th. Mizuho lifted their price target on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Evercore ISI assumed coverage on shares of Consolidated Edison in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 price target on the stock. Bank of America cut Consolidated Edison from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $112.00 to $101.00 in a report on Friday, August 15th. Finally, Morgan Stanley lifted their target price on Consolidated Edison from $93.00 to $100.00 and gave the stock an “underweight” rating in a report on Wednesday, October 22nd. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $105.08.

Consolidated Edison Trading Down 0.8%

NYSE ED opened at $97.44 on Friday. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. The stock has a market cap of $35.14 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 2.70 and a beta of 0.32. The firm’s 50 day moving average price is $98.94 and its two-hundred day moving average price is $102.11.

Consolidated Edison (NYSE:ED) last issued 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. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.39 billion. 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. Equities analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, November 19th. Consolidated Edison’s payout ratio is 61.71%.

About Consolidated Edison

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.