Focused Wealth Management Inc Cuts Stock Position in Consolidated Edison Inc $ED

Focused Wealth Management Inc cut its position in Consolidated Edison Inc (NYSE:ED) by 4.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,716 shares of the utilities provider’s stock after selling 155 shares during the quarter. Focused Wealth Management Inc’s holdings in Consolidated Edison were worth $373,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Revolve Wealth Partners LLC lifted its position in Consolidated Edison by 13.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock valued at $332,000 after acquiring an additional 441 shares during the last quarter. Tidal Investments LLC increased its position in shares of Consolidated Edison by 13.4% during the fourth quarter. Tidal Investments LLC now owns 7,301 shares of the utilities provider’s stock worth $651,000 after purchasing an additional 864 shares in the last quarter. Woodline Partners LP acquired a new position in shares of Consolidated Edison during the fourth quarter worth $1,856,000. Vise Technologies Inc. lifted its holdings in shares of Consolidated Edison by 21.4% during the 4th quarter. Vise Technologies Inc. now owns 4,534 shares of the utilities provider’s stock valued at $405,000 after purchasing an additional 800 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of Consolidated Edison by 126.7% in the 4th quarter. Mackenzie Financial Corp now owns 76,739 shares of the utilities provider’s stock worth $6,847,000 after purchasing an additional 42,894 shares in the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Trading Up 0.3%

Shares of NYSE:ED opened at $96.62 on Tuesday. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week high of $114.87. The stock has a market cap of $34.85 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 2.68 and a beta of 0.28. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. The business has a 50-day moving average price of $100.44 and a 200-day moving average price of $103.69.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, August 7th. The utilities provider reported $0.67 EPS 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 firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the prior year, the firm earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Wednesday, August 13th. Consolidated Edison’s dividend payout ratio is 61.71%.

Analysts Set New Price Targets

Several research analysts recently weighed in on ED shares. Bank of America downgraded Consolidated Edison from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $112.00 to $101.00 in a research note on Friday, August 15th. Scotiabank raised their price target on Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a report on Monday, August 11th. KeyCorp restated an “overweight” rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Morgan Stanley reaffirmed an “underweight” rating on shares of Consolidated Edison in a research report on Thursday, August 21st. Finally, Mizuho lifted their target price on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Consolidated Edison has a consensus rating of “Hold” and a consensus target price of $105.82.

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.