Consolidated Edison Inc $ED Shares Sold by Newport Trust Company LLC

Newport Trust Company LLC cut its stake in shares of Consolidated Edison Inc (NYSE:ED) by 2.0% in the 3rd quarter, Holdings Channel reports. The firm owned 503,155 shares of the utilities provider’s stock after selling 10,090 shares during the quarter. Newport Trust Company LLC’s holdings in Consolidated Edison were worth $50,577,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Norges Bank bought a new position in Consolidated Edison during the 2nd quarter worth $462,218,000. Vanguard Group Inc. boosted its holdings in shares of Consolidated Edison by 4.5% during the second quarter. Vanguard Group Inc. now owns 45,040,811 shares of the utilities provider’s stock valued at $4,519,845,000 after acquiring an additional 1,923,717 shares during the period. Qube Research & Technologies Ltd grew its position in shares of Consolidated Edison by 2,190.9% during the second quarter. Qube Research & Technologies Ltd now owns 978,160 shares of the utilities provider’s stock worth $98,158,000 after acquiring an additional 935,463 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Consolidated Edison by 103.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,327,643 shares of the utilities provider’s stock worth $133,229,000 after acquiring an additional 675,852 shares during the last quarter. Finally, Rakuten Investment Management Inc. acquired a new stake in shares of Consolidated Edison in the 3rd quarter worth about $60,497,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 0.6%

Shares of ED stock opened at $103.84 on Friday. The stock has a 50-day simple moving average of $99.67 and a 200 day simple moving average of $99.95. The stock has a market capitalization of $37.48 billion, a P/E ratio of 18.15, a P/E/G ratio of 2.83 and a beta of 0.39. Consolidated Edison Inc has a fifty-two week low of $90.36 and a fifty-two week high of $114.87. The company has a quick ratio of 0.97, a current ratio of 1.08 and a debt-to-equity ratio of 1.03.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.76 by $0.14. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.79%. The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.22 billion. During the same period in the previous year, the business earned $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, sell-side analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ED. KeyCorp reduced their target price on shares of Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating for the company in a research note on Friday, December 12th. Barclays reduced their price objective on Consolidated Edison from $101.00 to $100.00 and set an “underweight” rating for the company in a research report on Thursday. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a research report on Monday, December 29th. UBS Group lifted their target price on Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Wells Fargo & Company decreased their price target on Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating for the company in a research note on Tuesday. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $104.20.

Insider Activity

In other news, Director John F. Killian sold 2,276 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total transaction of $220,521.64. Following the completion of the sale, the director owned 38,661 shares in the company, valued at approximately $3,745,864.29. This represents a 5.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

About Consolidated Edison

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.