Voleon Capital Management LP Reduces Stake in Consolidated Edison Inc $ED

Voleon Capital Management LP lowered its stake in shares of Consolidated Edison Inc (NYSE:ED) by 65.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,514 shares of the utilities provider’s stock after selling 12,381 shares during the period. Voleon Capital Management LP’s holdings in Consolidated Edison were worth $720,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ED. Alpine Bank Wealth Management bought a new position in Consolidated Edison during the first quarter valued at $32,000. Fort Vancouver Investment Management LLC bought a new stake in shares of Consolidated Edison in the first quarter valued at $33,000. Financial Network Wealth Advisors LLC purchased a new position in shares of Consolidated Edison during the 1st quarter valued at $33,000. Cary Street Partners Investment Advisory LLC grew its stake in shares of Consolidated Edison by 64.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 120 shares during the period. Finally, Wood Tarver Financial Group LLC bought a new position in shares of Consolidated Edison during the 4th quarter worth $35,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ED shares. Mizuho boosted their price objective on Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Barclays boosted their price target on shares of Consolidated Edison from $101.00 to $107.00 and gave the company an “underweight” rating in a research report on Wednesday, August 13th. Bank of America cut shares of Consolidated Edison from a “buy” rating to an “underperform” rating and dropped their price target for the company from $112.00 to $101.00 in a research note on Friday, August 15th. Morgan Stanley reiterated an “underweight” rating on shares of Consolidated Edison in a research note on Thursday, August 21st. Finally, KeyCorp reissued an “overweight” rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $105.82.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $97.00 on Wednesday. The company has a 50 day moving average of $101.07 and a 200 day moving average of $103.96. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The stock has a market cap of $34.98 billion, a P/E ratio of 17.60, a P/E/G ratio of 2.69 and a beta of 0.28. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.39 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same period last year, the firm earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, sell-side analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Wednesday, August 13th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.5%. The ex-dividend date is Wednesday, August 13th. Consolidated Edison’s payout ratio is presently 61.71%.

Consolidated Edison Profile

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.