Consolidated Edison Inc $ED Shares Purchased by Cbre Investment Management Listed Real Assets LLC

Key Points

• CBRE Investment Management sharply increased its stake in Consolidated Edison, boosting holdings by 201.7% in the fourth quarter to 508,222 shares worth about $50.5 million.
• Consolidated Edison reported Q1 earnings and revenue below expectations, posting EPS of $2.18 versus the $2.28 estimate and revenue of $5.10 billion versus $5.22 billion expected.
• The company declared a quarterly dividend of $0.8875 per share, equal to an annualized payout of $3.55 and a yield of about 3.4%.

Cbre Investment Management Listed Real Assets LLC boosted its stake in Consolidated Edison Inc (NYSE:ED - Free Report) by 201.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 508,222 shares of the utilities provider's stock after buying an additional 339,790 shares during the period. Cbre Investment Management Listed Real Assets LLC owned 0.14% of Consolidated Edison worth $50,477,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ED. BW Gestao de Investimentos Ltda. acquired a new position in shares of Consolidated Edison during the fourth quarter valued at $17,983,000. COFG Advisors LLC purchased a new position in Consolidated Edison during the 4th quarter valued at about $548,000. New Mexico Educational Retirement Board lifted its position in Consolidated Edison by 2.5% in the 4th quarter. New Mexico Educational Retirement Board now owns 16,702 shares of the utilities provider's stock valued at $1,659,000 after acquiring an additional 400 shares in the last quarter. Ellevest Inc. boosted its holdings in shares of Consolidated Edison by 17.2% during the 4th quarter. Ellevest Inc. now owns 7,110 shares of the utilities provider's stock valued at $706,000 after purchasing an additional 1,044 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its position in Consolidated Edison by 5.4% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,442 shares of the utilities provider's stock worth $243,000 after purchasing an additional 126 shares during the period. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Down 1.8%

Shares of NYSE ED opened at $103.69 on Tuesday. 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 52 week low of $94.96 and a 52 week high of $116.23. The firm has a 50-day moving average price of $109.61 and a 200 day moving average price of $106.18. The stock has a market capitalization of $38.21 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.28 by ($0.10). The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.22 billion. Consolidated Edison had a return on equity of 8.33% and a net margin of 12.52%.During the same quarter in the previous year, the firm posted $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 fiscal year.

Consolidated Edison Dividend Announcement

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

Insider Transactions at Consolidated Edison

In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of the stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $113.94, for a total transaction of $218,992.68. Following the sale, the senior vice president directly owned 32,453 shares of the company's stock, valued at approximately $3,697,694.82. This represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ED. JPMorgan Chase & Co. raised their target price on shares of Consolidated Edison from $107.00 to $113.00 and gave the stock an "underweight" rating in a report on Thursday, March 12th. Scotiabank increased their target price on shares of Consolidated Edison from $113.00 to $117.00 and gave the stock a "sector perform" rating in a report on Friday, February 20th. Wells Fargo & Company set a $98.00 target price on shares of Consolidated Edison in a research report on Tuesday, April 21st. Citigroup reaffirmed a "buy" rating on shares of Consolidated Edison in a research report on Monday, February 23rd. Finally, Morgan Stanley set a $99.00 price target on shares of Consolidated Edison in a research note on Thursday, May 21st. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, Consolidated Edison has a consensus rating of "Reduce" and an average target price of $108.71.

About Consolidated Edison

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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