Consolidated Edison Inc $ED Stock Sold by ProShare Advisors LLC

ProShare Advisors LLC lowered its stake in Consolidated Edison Inc (NYSE:ED) by 1.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,569,455 shares of the utilities provider’s stock after selling 24,351 shares during the period. ProShare Advisors LLC’s holdings in Consolidated Edison were worth $160,414,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Consolidated Edison in the 2nd quarter worth $4,609,491,000. Lazard Asset Management LLC increased its position in shares of Consolidated Edison by 14.8% during the 1st quarter. Lazard Asset Management LLC now owns 7,075,838 shares of the utilities provider’s stock worth $800,843,000 after purchasing an additional 910,244 shares during the last quarter. Deutsche Bank AG purchased a new stake in Consolidated Edison during the 2nd quarter worth approximately $749,184,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Consolidated Edison by 7.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,847,672 shares of the utilities provider’s stock valued at $536,298,000 after buying an additional 353,000 shares in the last quarter. Finally, Legal & General Group Plc acquired a new position in Consolidated Edison during the second quarter worth approximately $494,352,000. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Price Performance

Shares of ED stock opened at $116.81 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.17 and a current ratio of 1.27. The business’s 50 day moving average price is $107.73 and its 200-day moving average price is $108.93. Consolidated Edison Inc has a fifty-two week low of $94.96 and a fifty-two week high of $117.65. The firm has a market cap of $43.20 billion, a P/E ratio of 19.18, a P/E/G ratio of 4.04 and a beta of 0.26.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. The company had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $3.60 billion. During the same quarter in the previous year, the company earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, equities research analysts anticipate that Consolidated Edison Inc will post 6.10 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Wednesday, November 18th will be paid a $0.8875 dividend. This represents a $3.55 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, November 18th. Consolidated Edison’s dividend payout ratio is currently 58.29%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Scotiabank cut their price target on Consolidated Edison from $117.00 to $110.00 and set a “sector perform” rating for the company in a report on Wednesday, September 30th. Mizuho set a $108.00 price target on Consolidated Edison in a report on Wednesday, October 7th. KeyCorp reduced their price objective on Consolidated Edison from $94.00 to $87.00 and set an “underweight” rating for the company in a research report on Tuesday, October 13th. The Goldman Sachs Group lowered their target price on Consolidated Edison from $106.00 to $102.00 in a research note on Thursday, October 15th. Finally, Bank of America cut their price objective on shares of Consolidated Edison from $105.00 to $96.00 in a research report on Friday, October 2nd. Four investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, Consolidated Edison currently has a consensus rating of “Reduce” and a consensus price target of $108.09.

Consolidated Edison Company Profile

Consolidated Edison, Inc is a diversified energy company headquartered in New York City. Through its regulated utility subsidiaries, the company delivers electricity, natural gas and steam to residential, commercial and industrial customers.

Its principal subsidiary, Consolidated Edison Company of New York, provides electric service throughout New York City and Westchester County, along with gas service in Manhattan, the Bronx, parts of Queens and Westchester County, and steam service in parts of Manhattan.