SG Americas Securities LLC Grows Stock Position in Consolidated Edison Inc $ED

SG Americas Securities LLC increased its stake in shares of Consolidated Edison Inc (NYSE:ED) by 1,137.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,929 shares of the utilities provider’s stock after purchasing an additional 70,713 shares during the quarter. SG Americas Securities LLC’s holdings in Consolidated Edison were worth $7,733,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Revolve Wealth Partners LLC increased its stake in shares of Consolidated Edison by 13.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after buying an additional 441 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Consolidated Edison by 8.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,349 shares of the utilities provider’s stock valued at $4,352,000 after purchasing an additional 3,017 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Consolidated Edison by 35.8% in the 1st quarter. Jones Financial Companies Lllp now owns 13,476 shares of the utilities provider’s stock valued at $1,490,000 after purchasing an additional 3,555 shares in the last quarter. Ascent Group LLC purchased a new stake in shares of Consolidated Edison during the 1st quarter worth $311,000. Finally, Empowered Funds LLC grew its stake in shares of Consolidated Edison by 42.1% during the first quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock worth $993,000 after purchasing an additional 2,659 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $99.21 on Friday. The stock has a market cap of $35.81 billion, a P/E ratio of 17.34, a P/E/G ratio of 2.73 and a beta of 0.39. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87. The stock has a 50 day moving average of $98.87 and a two-hundred day moving average of $99.73. The company has a current ratio of 1.08, a quick ratio of 0.97 and a debt-to-equity ratio of 1.03.

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

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Wednesday, November 19th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.4%. The ex-dividend date was Wednesday, November 19th. Consolidated Edison’s payout ratio is 59.44%.

Insider Buying and Selling

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of the stock in a transaction that occurred 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 directly owned 38,661 shares of the company’s stock, valued at approximately $3,745,864.29. This trade represents a 5.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ED has been the subject of a number of recent analyst reports. New Street Research set a $106.00 price target on Consolidated Edison in a report on Monday, October 6th. TD Cowen assumed coverage on Consolidated Edison in a research report on Friday. They set a “hold” rating and a $105.00 target price on the stock. Wells Fargo & Company raised Consolidated Edison to a “hold” rating in a report on Tuesday, October 28th. Barclays cut their price objective on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a report on Monday, November 10th. Finally, Cowen assumed coverage on shares of Consolidated Edison in a report on Thursday. They issued a “hold” rating for the company. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $103.53.

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.