BNP Paribas Has $3.05 Million Stock Position in Consolidated Edison Inc $ED

Key Points

• BNP Paribas sharply reduced its stake in Consolidated Edison, cutting holdings by 69.5% in the fourth quarter to 30,647 shares worth about $3.05 million.
• Analysts remain cautious on ED: the stock’s average rating is “Reduce,” with an average price target of $108.71, though a few firms recently lifted targets or upgraded ratings.
• Consolidated Edison missed quarterly expectations, reporting EPS of $2.18 versus the $2.28 consensus, while also declaring a quarterly dividend of $0.8875 per share, implying a 3.4% yield.

BNP Paribas lowered its holdings in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 69.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,647 shares of the utilities provider's stock after selling 69,756 shares during the period. BNP Paribas' holdings in Consolidated Edison were worth $3,045,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Consolidated Edison by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 45,636,041 shares of the utilities provider's stock worth $4,532,572,000 after buying an additional 461,108 shares in the last quarter. State Street Corp raised its holdings in shares of Consolidated Edison by 0.3% during the 3rd quarter. State Street Corp now owns 24,050,572 shares of the utilities provider's stock worth $2,417,563,000 after buying an additional 63,346 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of Consolidated Edison by 121,543.9% during the 3rd quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider's stock worth $599,155,000 after buying an additional 5,955,653 shares in the last quarter. Norges Bank acquired a new position in shares of Consolidated Edison during the 4th quarter worth $489,806,000. Finally, Legal & General Group Plc raised its holdings in shares of Consolidated Edison by 1.1% during the 4th quarter. Legal & General Group Plc now owns 4,399,844 shares of the utilities provider's stock worth $436,993,000 after buying an additional 48,314 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ED shares. Weiss Ratings raised Consolidated Edison from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, April 24th. Evercore set a $116.00 target price on Consolidated Edison in a report on Monday, May 11th. JPMorgan Chase & Co. upped their target price on Consolidated Edison from $107.00 to $113.00 and gave the stock an "underweight" rating in a report on Thursday, March 12th. TD Cowen upped their target price on Consolidated Edison from $105.00 to $112.00 and gave the stock a "hold" rating in a report on Tuesday, February 24th. Finally, Barclays lowered their target price on Consolidated Edison from $110.00 to $107.00 and set an "underweight" rating for the company in a report on Monday, May 11th. Three equities 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, the stock presently has an average rating of "Reduce" and an average price target of $108.71.

Insider Activity at Consolidated Edison

In other news, SVP Deneen L. Donnley sold 1,922 shares of the business's stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $113.94, for a total transaction of $218,992.68. Following the completion of the sale, the senior vice president owned 32,453 shares in the company, valued at $3,697,694.82. The trade was a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

Consolidated Edison Stock Down 1.8%

Shares of Consolidated Edison stock opened at $103.69 on Tuesday. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.19 and a quick ratio of 1.09. The stock's 50-day moving average is $109.61 and its 200 day moving average is $106.18. The firm has a market cap of $38.21 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 2.68 and a beta of 0.27.

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

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th will be issued a dividend of $0.8875 per share. The ex-dividend date is Wednesday, May 13th. This represents a $3.55 annualized dividend and a dividend yield of 3.4%. Consolidated Edison's payout ratio is currently 59.76%.

Consolidated Edison Company 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.

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