Insider Selling: Consolidated Edison (NYSE:ED) Director Sells 2,276 Shares of Stock

by · The Markets Daily

Consolidated Edison Inc (NYSE:ED – Get Free Report) Director John Killian sold 2,276 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $96.89, for a total transaction of $220,521.64. Following the completion of the transaction, the director directly owned 38,661 shares in the company, valued at approximately $3,745,864.29. This represents a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock traded up $1.91 on Friday, hitting $97.55. The stock had a trading volume of 2,638,191 shares, compared to its average volume of 2,556,028. The stock has a market cap of $35.21 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 2.76 and a beta of 0.37. The company has a quick ratio of 0.97, a current ratio of 1.08 and a debt-to-equity ratio of 1.03. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87. The business’s 50 day moving average is $99.32 and its two-hundred day moving average is $100.19.

Consolidated Edison (NYSE:ED – Get Free Report) last released its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.14. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.27%.During the same period in the prior year, the firm posted $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Wednesday, November 19th will be paid a $0.85 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.5%. Consolidated Edison’s dividend payout ratio is 59.44%.

Analyst Upgrades and Downgrades

ED has been the topic of a number of recent research reports. Evercore ISI assumed coverage on shares of Consolidated Edison in a research report on Tuesday, October 7th. They set an “in-line” rating and a $106.00 price target on the stock. New Street Research set a $106.00 price target on shares of Consolidated Edison in a research report on Monday, October 6th. Bank of America downgraded Consolidated Edison from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $112.00 to $101.00 in a research report on Friday, August 15th. Barclays lowered their price objective on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a research note on Monday, November 10th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $98.00 target price on shares of Consolidated Edison in a research report on Thursday, November 20th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $103.69.

Check Out Our Latest Research Report on ED

Hedge Funds Weigh In On Consolidated Edison

A number of institutional investors have recently modified their holdings of the business. IFP Advisors Inc boosted its stake in Consolidated Edison by 194.5% in the third quarter. IFP Advisors Inc now owns 15,208 shares of the utilities provider’s stock valued at $1,559,000 after buying an additional 10,044 shares in the last quarter. Innova Wealth Partners raised its stake in Consolidated Edison by 74.0% during the third quarter. Innova Wealth Partners now owns 3,558 shares of the utilities provider’s stock worth $358,000 after acquiring an additional 1,513 shares in the last quarter. Groupama Asset Managment bought a new position in shares of Consolidated Edison in the third quarter worth about $2,357,000. Fulcrum Asset Management LLP lifted its holdings in shares of Consolidated Edison by 21.2% in the third quarter. Fulcrum Asset Management LLP now owns 34,971 shares of the utilities provider’s stock worth $3,515,000 after acquiring an additional 6,119 shares during the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of Consolidated Edison in the 3rd quarter valued at approximately $5,189,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Company Profile

(Get Free Report)

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.

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