North Dakota State Investment Board bought a new stake in Consolidated Edison Inc (NYSE:ED - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 12,362 shares of the utilities provider's stock, valued at approximately $1,228,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ED. Lazard Asset Management LLC grew its holdings in Consolidated Edison by 121,543.9% in the 3rd quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider's stock valued at $599,155,000 after buying an additional 5,955,653 shares in the last quarter. PFA Pension Forsikringsaktieselskab acquired a new position in Consolidated Edison in the 4th quarter valued at $113,977,000. AQR Capital Management LLC grew its holdings in Consolidated Edison by 104.6% in the 3rd quarter. AQR Capital Management LLC now owns 1,905,678 shares of the utilities provider's stock valued at $190,530,000 after buying an additional 974,419 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in Consolidated Edison by 94.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,904,876 shares of the utilities provider's stock valued at $191,478,000 after buying an additional 926,716 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Consolidated Edison by 344.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 891,895 shares of the utilities provider's stock valued at $88,583,000 after acquiring an additional 691,304 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the company. Bank of America reiterated an "underperform" rating and set a $104.00 target price on shares of Consolidated Edison in a research report on Wednesday, February 25th. Citigroup reiterated a "buy" rating on shares of Consolidated Edison in a research report on Monday, February 23rd. Scotiabank upped their target price on Consolidated Edison from $113.00 to $117.00 and gave the company a "sector perform" rating in a research report on Friday, February 20th. Wells Fargo & Company set a $98.00 target price on Consolidated Edison in a research report on Tuesday, April 21st. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a $118.00 target price on shares of Consolidated Edison in a report on Friday, January 23rd. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Consolidated Edison presently has an average rating of "Reduce" and an average price target of $109.14.
Read Our Latest Analysis on Consolidated Edison
Consolidated Edison Stock Performance
NYSE:ED opened at $108.22 on Wednesday. The stock's 50-day simple moving average is $110.71 and its 200 day simple moving average is $105.59. The firm has a market capitalization of $39.88 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 2.70 and a beta of 0.29. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23.
Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The utilities provider reported $2.18 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($0.10). The business had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.22 billion. Consolidated Edison had a net margin of 12.52% and a return on equity of 8.33%. During the same period last year, the business earned $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, analysts anticipate that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.
Consolidated Edison Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Wednesday, May 13th will be paid a $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $3.55 annualized dividend and a yield of 3.3%. Consolidated Edison's dividend payout ratio (DPR) is 59.76%.
Insiders Place Their Bets
In related news, SVP Deneen L. Donnley sold 1,922 shares of the firm's stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $113.94, for a total value of $218,992.68. Following the sale, the senior vice president directly owned 32,453 shares of the company's stock, valued at $3,697,694.82. This trade represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.15% of the stock is owned by company insiders.
Consolidated Edison Company Profile
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Free Report)
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.
See Also
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