10,535 Shares in Consolidated Edison Inc $ED Acquired by Havemeyer Place LP

Key Points

• Havemeyer Place LP opened a new position in Consolidated Edison, buying 10,535 shares worth about $1.046 million in the fourth quarter.
• Institutional interest remains high, with several other funds adding to or starting stakes; overall, 66.29% of ED shares are held by institutions and hedge funds.
• Consolidated Edison reported Q1-style quarterly results that missed analyst expectations on both earnings and revenue, while also maintaining a quarterly dividend of $0.8875 per share, yielding about 3.3%.

Havemeyer Place LP purchased a new position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,535 shares of the utilities provider's stock, valued at approximately $1,046,000.

Several other institutional investors have also made changes to their positions in the stock. Pinebridge Investments LLC acquired a new stake in shares of Consolidated Edison during the fourth quarter worth approximately $2,213,000. PBU The Pension Fund of Early Childhood & Youth Educators acquired a new stake in shares of Consolidated Edison during the fourth quarter worth approximately $7,944,000. Nuance Investments LLC boosted its holdings in shares of Consolidated Edison by 23.2% during the fourth quarter. Nuance Investments LLC now owns 49,246 shares of the utilities provider's stock worth $4,891,000 after purchasing an additional 9,284 shares during the period. SlateStone Wealth LLC boosted its holdings in shares of Consolidated Edison by 2.7% during the fourth quarter. SlateStone Wealth LLC now owns 19,933 shares of the utilities provider's stock worth $1,980,000 after purchasing an additional 517 shares during the period. Finally, Prudential PLC raised its position in Consolidated Edison by 58.2% during the fourth quarter. Prudential PLC now owns 74,703 shares of the utilities provider's stock valued at $7,420,000 after acquiring an additional 27,495 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ED has been the topic of several recent research reports. Citigroup reaffirmed a "buy" rating on shares of Consolidated Edison in a research report on Monday, February 23rd. Barclays cut their price objective on shares of Consolidated Edison from $110.00 to $107.00 and set an "underweight" rating on the stock in a research report on Monday, May 11th. The Goldman Sachs Group reaffirmed a "sell" rating and set a $105.00 price objective on shares of Consolidated Edison in a research report on Thursday, May 14th. JPMorgan Chase & Co. raised their price objective on shares of Consolidated Edison from $107.00 to $113.00 and gave the company an "underweight" rating in a research report on Thursday, March 12th. Finally, Weiss Ratings raised shares of Consolidated Edison from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, April 24th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, Consolidated Edison presently has a consensus rating of "Reduce" and an average price target of $107.79.

Consolidated Edison Trading Up 0.0%

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

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The utilities provider reported $2.18 EPS for the quarter, missing analysts' consensus estimates of $2.28 by ($0.10). Consolidated Edison had a net margin of 12.52% and a return on equity of 8.33%. The firm had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the prior year, the business earned $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities analysts anticipate that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th will be paid a $0.8875 dividend. The ex-dividend date is Wednesday, May 13th. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. Consolidated Edison's dividend payout ratio (DPR) is presently 59.76%.

Insider Activity

In other news, SVP Deneen L. Donnley sold 1,922 shares of the firm's stock in a transaction 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 sale, the senior vice president owned 32,453 shares in the company, valued at approximately $3,697,694.82. This trade represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.15% of the company's stock.

Consolidated Edison 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.

Want to see what other hedge funds are holding ED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Consolidated Edison Inc (NYSE:ED - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.