Consolidated Edison Inc $ED Shares Bought by Fifth Third Wealth Advisors LLC

Key Points

• Fifth Third Wealth Advisors increased its Consolidated Edison stake by 265.6% in the third quarter, adding 11,382 shares for a total holding of 15,667 shares valued at approximately $1.6 million.
• Institutional ownership remains substantial at 66.29%, with major investors including BlackRock, Deutsche Bank, Legal & General, Bank of New York Mellon and Amundi expanding or initiating positions.
• Analyst sentiment is cautious: the stock has a consensus “Reduce” rating and an average price target of $107.50, despite recent quarterly earnings beating estimates and a 3.1% dividend yield.

Fifth Third Wealth Advisors LLC increased its stake in Consolidated Edison Inc (NYSE:ED - Free Report) by 265.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,667 shares of the utilities provider's stock after acquiring an additional 11,382 shares during the period. Fifth Third Wealth Advisors LLC's holdings in Consolidated Edison were worth $1,601,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. bought a new stake in Consolidated Edison during the second quarter worth approximately $4,609,491,000. Deutsche Bank AG acquired a new stake in Consolidated Edison in the second quarter worth approximately $749,184,000. Legal & General Group Plc bought a new position in Consolidated Edison during the 2nd quarter valued at $494,352,000. Bank of New York Mellon Corp bought a new position in Consolidated Edison during the 2nd quarter valued at $231,014,000. Finally, Amundi boosted its stake in Consolidated Edison by 66.2% during the 1st quarter. Amundi now owns 3,872,404 shares of the utilities provider's stock valued at $438,272,000 after purchasing an additional 1,543,069 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ED has been the topic of several research analyst reports. Wells Fargo & Company lifted their price target on Consolidated Edison from $106.00 to $108.00 and gave the company an "equal weight" rating in a research report on Friday, August 7th. Jefferies Financial Group restated a "hold" rating and issued a $105.00 price objective on shares of Consolidated Edison in a report on Tuesday, October 6th. Barclays cut their price objective on Consolidated Edison from $112.00 to $106.00 and set an "underweight" rating for the company in a report on Friday, August 7th. Mizuho set a $108.00 target price on Consolidated Edison in a research note on Wednesday, October 7th. Finally, HSBC began coverage on Consolidated Edison in a report on Thursday. They set a "hold" rating and a $104.00 target price on the stock. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $107.50.

Consolidated Edison Stock Down 0.4%

NYSE ED opened at $115.82 on Friday. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $116.50. The company has a market capitalization of $42.83 billion, a P/E ratio of 19.02, a PEG ratio of 4.01 and a beta of 0.26. The company's 50 day simple moving average is $107.03 and its 200 day simple moving average is $108.44. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.27 and a quick ratio of 1.17.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.07. The firm had revenue of $4.07 billion during the quarter, compared to analysts' expectations of $3.60 billion. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. During the same period last year, the firm posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities research analysts expect that Consolidated Edison Inc will post 6.10 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Wednesday, November 18th will be issued a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date 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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