Dougherty & Associates LLC Buys Shares of 19,784 Consolidated Edison Inc $ED

Key Points

• Dougherty & Associates LLC initiated a new position in Consolidated Edison, buying 19,784 shares valued at about $1.97 million in the fourth quarter. The stock now ranks as the firm’s 19th-largest holding.
• Several other institutional investors also adjusted their ED stakes, and 66.29% of Consolidated Edison shares are now owned by institutions and hedge funds.
• Analysts remain mixed on the stock: the consensus rating is “Reduce” with an average price target of $109.14, while the company recently reported earnings and revenue that both missed expectations.

Dougherty & Associates LLC bought a new stake in Consolidated Edison Inc (NYSE:ED - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 19,784 shares of the utilities provider's stock, valued at approximately $1,965,000. Consolidated Edison comprises 1.8% of Dougherty & Associates LLC's holdings, making the stock its 19th biggest holding.

A number of other large investors also recently modified their holdings of ED. Revolve Wealth Partners LLC increased its holdings in shares of Consolidated Edison by 13.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider's stock valued at $332,000 after purchasing an additional 441 shares during the period. Empowered Funds LLC increased its holdings in shares of Consolidated Edison by 42.1% during the first quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider's stock valued at $993,000 after purchasing an additional 2,659 shares during the period. Woodline Partners LP increased its holdings in shares of Consolidated Edison by 40.7% during the first quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider's stock valued at $3,237,000 after purchasing an additional 8,468 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Consolidated Edison during the second quarter valued at $3,256,000. Finally, Baird Financial Group Inc. increased its holdings in shares of Consolidated Edison by 2.1% during the second quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider's stock valued at $1,473,000 after purchasing an additional 296 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Consolidated Edison

In other news, SVP Deneen L. Donnley sold 1,922 shares of the stock in a transaction 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 approximately $3,697,694.82. This represents a 5.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ED. KeyCorp raised their price target on Consolidated Edison from $96.00 to $97.00 and gave the company an "underweight" rating in a report on Tuesday, April 21st. Evercore set a $116.00 price target on Consolidated Edison in a report on Monday, May 11th. TD Cowen raised their price target on Consolidated Edison from $105.00 to $112.00 and gave the company a "hold" rating in a report on Tuesday, February 24th. Bank of America reissued an "underperform" rating and set a $104.00 price target on shares of Consolidated Edison in a report on Wednesday, February 25th. Finally, Mizuho set a $118.00 price target on Consolidated Edison in a report on Monday, February 23rd. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus price target of $109.14.

Consolidated Edison Price Performance

NYSE:ED opened at $105.37 on Monday. The business's 50-day moving average price is $110.88 and its 200 day moving average price is $105.46. The firm has a market cap of $38.83 billion, a P/E ratio of 17.74, a PEG ratio of 2.68 and a beta of 0.29. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $116.23. 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 (NYSE:ED - Get Free Report) last released 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 firm 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 period in the previous year, the firm earned $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, sell-side analysts predict that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th 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 3.4%. The ex-dividend date is Wednesday, May 13th. Consolidated Edison's dividend payout ratio is 59.76%.

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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