J.W. Cole Advisors Inc. Lowers Stake in Consolidated Edison Inc $ED

J.W. Cole Advisors Inc. reduced its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 21.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,804 shares of the utilities provider’s stock after selling 6,463 shares during the period. J.W. Cole Advisors Inc.’s holdings in Consolidated Edison were worth $2,272,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ED. Meadowbrook Wealth Management LLC raised its holdings in Consolidated Edison by 2.2% in the fourth quarter. Meadowbrook Wealth Management LLC now owns 4,687 shares of the utilities provider’s stock worth $466,000 after buying an additional 100 shares during the last quarter. bLong Financial LLC grew its stake in shares of Consolidated Edison by 1.3% in the fourth quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider’s stock worth $772,000 after acquiring an additional 100 shares during the period. Bridgewater Advisors Inc. grew its stake in shares of Consolidated Edison by 1.6% in the fourth quarter. Bridgewater Advisors Inc. now owns 6,635 shares of the utilities provider’s stock worth $689,000 after acquiring an additional 105 shares during the period. JFS Wealth Advisors LLC grew its stake in shares of Consolidated Edison by 36.4% in the third quarter. JFS Wealth Advisors LLC now owns 412 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 110 shares during the period. Finally, David J Yvars Group grew its stake in shares of Consolidated Edison by 1.4% in the fourth quarter. David J Yvars Group now owns 8,015 shares of the utilities provider’s stock worth $796,000 after acquiring an additional 113 shares during the period. 66.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Barclays reduced their price target on shares of Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating for the company in a research note on Monday, May 11th. Scotiabank lifted their price target on shares of Consolidated Edison from $113.00 to $117.00 and gave the stock a “sector perform” rating in a research note on Friday, February 20th. Wells Fargo & Company set a $98.00 target price on shares of Consolidated Edison in a research report on Tuesday, April 21st. Evercore set a $116.00 target price on shares of Consolidated Edison in a research report on Monday, May 11th. Finally, Mizuho restated a “neutral” rating and set a $105.00 target price on shares of Consolidated Edison in a research report on Tuesday, June 2nd. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have given a Sell rating to the stock. According to MarketBeat.com, Consolidated Edison currently has a consensus rating of “Reduce” and a consensus target price of $107.79.

Insider Buying and Selling at Consolidated Edison

In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $113.94, for a total value of $218,992.68. Following the completion of the transaction, the senior vice president directly owned 32,453 shares in the company, valued at $3,697,694.82. This represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.15% of the stock is currently owned by insiders.

Consolidated Edison Stock Performance

Shares of NYSE ED opened at $106.31 on Monday. The firm has a 50 day moving average of $109.20 and a 200 day moving average of $106.26. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $39.18 billion, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 2.70 and a beta of 0.27. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $116.23.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, May 7th. The utilities provider reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.10). The business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.22 billion. Consolidated Edison had a net margin of 12.52% and a return on equity of 8.33%. During the same quarter last year, the firm posted $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, research analysts anticipate that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th will be given a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, May 13th. Consolidated Edison’s dividend payout ratio is presently 59.76%.

Consolidated Edison Company Profile

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.