96,316 Consolidated Edison Inc $ED Shares Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Consolidated Edison stake by 308.8% in the third quarter, purchasing 96,316 additional shares for a total holding valued at approximately $13.0 million. Institutional investors own 66.29% of the company.
• Analysts remain cautious on the stock, with an average “Reduce” rating and a consensus price target of $107.73; shares recently opened at $109.63.
• Consolidated Edison reported quarterly earnings of $0.83 per share, exceeding estimates, and announced a quarterly dividend of $0.8875 per share, representing a 3.2% annualized yield.

Assenagon Asset Management S.A. lifted its holdings in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 308.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,506 shares of the utilities provider's stock after buying an additional 96,316 shares during the period. Assenagon Asset Management S.A.'s holdings in Consolidated Edison were worth $13,032,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Consolidated Edison during the 2nd quarter valued at about $4,609,491,000. Lazard Asset Management LLC raised its holdings in shares of Consolidated Edison by 14.8% during the first quarter. Lazard Asset Management LLC now owns 7,075,838 shares of the utilities provider's stock valued at $800,843,000 after purchasing an additional 910,244 shares during the last quarter. Deutsche Bank AG bought a new position in Consolidated Edison during the second quarter valued at approximately $749,184,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Consolidated Edison by 7.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,847,672 shares of the utilities provider's stock valued at $536,298,000 after purchasing an additional 353,000 shares during the period. Finally, Legal & General Group Plc bought a new position in Consolidated Edison during the second quarter valued at approximately $494,352,000. 66.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ED shares. Mizuho set a $108.00 target price on shares of Consolidated Edison in a report on Wednesday, October 7th. Barclays decreased their target price on shares of Consolidated Edison from $112.00 to $106.00 and set an "underweight" rating for the company in a research note on Friday, August 7th. Jefferies Financial Group reissued a "hold" rating and set a $105.00 price target on shares of Consolidated Edison in a report on Tuesday, October 6th. Morgan Stanley dropped their price target on Consolidated Edison from $101.00 to $97.00 and set an "underweight" rating on the stock in a research note on Friday, September 18th. Finally, Wells Fargo & Company raised their price target on Consolidated Edison from $106.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Friday, August 7th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat, Consolidated Edison currently has an average rating of "Reduce" and an average price target of $107.73.

Consolidated Edison Price Performance

Shares of Consolidated Edison stock opened at $109.63 on Tuesday. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23. The stock's fifty day moving average is $106.55 and its 200 day moving average is $108.42. The stock has a market cap of $40.54 billion, a P/E ratio of 19.39, a P/E/G ratio of 3.89 and a beta of 0.26. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.17 and a current ratio of 1.27.

Consolidated Edison (NYSE:ED - Get Free Report) last released its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.07. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%. The company had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $3.60 billion. During the same period in the previous year, the business earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Sell-side analysts anticipate that Consolidated Edison Inc will post 6.10 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Wednesday, November 18th will be given a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, November 18th. Consolidated Edison's payout ratio is presently 58.29%.

Consolidated Edison Profile

Consolidated Edison, Inc is a diversified energy company headquartered in New York City. Through its regulated utility subsidiaries, the company delivers electricity, natural gas and steam to residential, commercial and industrial customers.

Its principal subsidiary, Consolidated Edison Company of New York, provides electric service throughout New York City and Westchester County, along with gas service in Manhattan, the Bronx, parts of Queens and Westchester County, and steam service in parts of Manhattan.

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