Consolidated Edison Inc $ED Shares Sold by Lionshead Wealth Management LLC

Lionshead Wealth Management LLC reduced its position in Consolidated Edison Inc (NYSE:ED) by 25.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,005 shares of the utilities provider’s stock after selling 694 shares during the quarter. Lionshead Wealth Management LLC’s holdings in Consolidated Edison were worth $222,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on ED. Wells Fargo & Company boosted their price objective on shares of Consolidated Edison from $103.00 to $114.00 and gave the company an “equal weight” rating in a research note on Friday, May 2nd. Mizuho upped their price target 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. Scotiabank upped their price target on shares of Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research note on Monday, August 11th. KeyCorp reaffirmed an “overweight” rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Finally, Barclays upped their price target on shares of Consolidated Edison from $101.00 to $107.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 13th. 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 company. Based on data from MarketBeat, Consolidated Edison has a consensus rating of “Hold” and a consensus price target of $105.82.

Consolidated Edison Price Performance

NYSE:ED opened at $101.5520 on Friday. The firm has a market cap of $36.62 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 2.82 and a beta of 0.24. 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 company’s 50-day moving average is $101.54 and its two-hundred day moving average is $103.71. Consolidated Edison Inc has a 12-month low of $87.28 and a 12-month high of $114.87.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates 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 in the prior year, the firm earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Research analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Wednesday, August 13th. Consolidated Edison’s dividend payout ratio is 61.71%.

About Consolidated Edison

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.