Consolidated Edison Inc $ED Shares Acquired by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia boosted its stake in Consolidated Edison by 58% in the first quarter, owning 154,063 shares valued at about $17.4 million at quarter-end.
• Consolidated Edison announced a quarterly dividend of $0.8875 per share, payable on September 15, for an annualized yield of 3.1%.
• Sentiment from analysts remains cautious: KeyCorp reiterated an Underweight rating with a $94 price target, and Morgan Stanley issued a Sell rating, while the stock’s consensus rating is Reduce.

Bank of Nova Scotia increased its position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 58.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,063 shares of the utilities provider's stock after acquiring an additional 56,566 shares during the period. Bank of Nova Scotia's holdings in Consolidated Edison were worth $17,437,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. GW&K Investment Management LLC boosted its position in Consolidated Edison by 28.5% in the 4th quarter. GW&K Investment Management LLC now owns 419 shares of the utilities provider's stock valued at $42,000 after buying an additional 93 shares during the period. bLong Financial LLC raised its stake in shares of Consolidated Edison by 1.3% in the fourth quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider's stock valued at $772,000 after acquiring an additional 100 shares in the last quarter. Sachetta LLC grew its stake in Consolidated Edison by 72.9% during the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider's stock worth $27,000 after purchasing an additional 102 shares in the last quarter. Bridgewater Advisors Inc. raised its position in Consolidated Edison by 1.6% in the 4th quarter. Bridgewater Advisors Inc. now owns 6,635 shares of the utilities provider's stock valued at $689,000 after purchasing an additional 105 shares in the last quarter. Finally, Frank Rimerman Advisors LLC raised its position in Consolidated Edison by 1.3% in the 1st quarter. Frank Rimerman Advisors LLC now owns 8,275 shares of the utilities provider's stock valued at $937,000 after purchasing an additional 105 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Up 0.2%

Shares of NYSE:ED opened at $112.97 on Friday. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-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 has a market cap of $41.63 billion, a P/E ratio of 19.02, a P/E/G ratio of 2.93 and a beta of 0.27. The firm has a fifty day moving average price of $109.04 and a 200 day moving average price of $109.01.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Wednesday, August 19th will be paid a dividend of $0.8875 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $3.55 annualized dividend and a yield of 3.1%. Consolidated Edison's dividend payout ratio is currently 59.76%.

Key Headlines Impacting Consolidated Edison

Here are the key news stories impacting Consolidated Edison this week:

• Negative Sentiment: KeyCorp reiterated an Underweight rating and a $94 price target, while trimming/setting earnings estimates across multiple periods, including Q2 2026 EPS of $0.65, Q3 2026 EPS of $2.24, Q4 2026 EPS of $0.62, and long-term forecasts through FY2030 EPS of $7.77. The lower target and cautious stance can weigh on ED shares. Article
• Negative Sentiment: Another report highlighted that KeyCorp lowered expectations for Consolidated Edison, reinforcing a more conservative view on the stock’s earnings trajectory. Article
• Negative Sentiment: Morgan Stanley issued a “Sell” rating on Consolidated Edison, adding to the bearish analyst sentiment around the shares. Article

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Mizuho reissued a "neutral" rating and set a $105.00 price objective on shares of Consolidated Edison in a research report on Tuesday, June 2nd. Argus set a $112.00 price objective on shares of Consolidated Edison in a research report on Tuesday, June 23rd. Wells Fargo & Company set a $98.00 target price on shares of Consolidated Edison in a research note on Tuesday, April 21st. Barclays cut their price target on Consolidated Edison from $110.00 to $107.00 and set an "underweight" rating on the stock in a research note on Monday, May 11th. Finally, Evercore set a $116.00 price target on Consolidated Edison in a report on Monday, May 11th. Two 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, the stock has an average rating of "Reduce" and a consensus price target of $107.87.

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.

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