Ethic Inc. Buys 9,577 Shares of Consolidated Edison Inc $ED

Key Points

• Ethic Inc. increased its stake in Consolidated Edison by 6.6% in the fourth quarter, buying 9,577 additional shares and bringing its total holdings to 153,808 shares valued at about $15.3 million.
• Con Edison’s latest quarter was mixed: revenue and net income rose on strong electricity, gas, and steam demand, but adjusted earnings and revenue still came in below analyst expectations.
• The utility reiterated full-year 2026 EPS guidance of $6.00 to $6.20 and maintained its quarterly dividend of $0.8875 per share, implying an annual yield of roughly 3.3%.

Ethic Inc. grew its position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 6.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 153,808 shares of the utilities provider's stock after acquiring an additional 9,577 shares during the quarter. Ethic Inc.'s holdings in Consolidated Edison were worth $15,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Consolidated Edison by 13.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,819 shares of the utilities provider's stock valued at $7,320,000 after acquiring an additional 8,562 shares during the last quarter. Nuance Investments LLC purchased a new stake in shares of Consolidated Edison during the 3rd quarter worth approximately $4,017,000. Bryce Point Capital LLC bought a new stake in shares of Consolidated Edison in the 3rd quarter worth approximately $556,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Consolidated Edison by 3.0% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,028,686 shares of the utilities provider's stock worth $103,404,000 after purchasing an additional 29,606 shares during the period. Finally, Caprock Group LLC purchased a new position in Consolidated Edison in the third quarter valued at approximately $2,586,000. Institutional investors own 66.29% of the company's stock.

Key Headlines Impacting Consolidated Edison

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

• Positive Sentiment: Con Edison reported higher first-quarter net income and revenue, supported by robust electricity, gas, and steam demand. Reuters article
• Positive Sentiment: The company reiterated full-year EPS guidance of $6.00 to $6.20, which is broadly in line with expectations and signals stable outlook for the regulated utility. PR Newswire article
• Neutral Sentiment: Management continues to highlight long-term investment plans, including a large capital spending program, which could support future rate base growth but will also require significant spending. MSN article
• Negative Sentiment: Adjusted quarterly earnings missed analysts’ estimates, reflecting higher expenses and softer-than-expected profitability. Zacks article
• Negative Sentiment: Revenue also came in below consensus, reinforcing concerns that near-term results may not be as strong as investors had hoped. MarketWatch article

Consolidated Edison Trading Down 0.0%

NYSE:ED opened at $106.34 on Friday. The company has a market cap of $39.18 billion, a P/E ratio of 17.90, a P/E/G ratio of 2.71 and a beta of 0.29. The stock's fifty day moving average price is $111.55 and its two-hundred day moving average price is $105.24. 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 1.06, a current ratio of 1.02 and a quick ratio of 0.94.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The utilities provider reported $2.18 earnings per share 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 8.47%. The company had revenue of $5.10 billion during the quarter, compared to analysts' expectations of $5.22 billion. During the same quarter last year, the firm posted $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, analysts expect that Consolidated Edison Inc will post 6.08 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th will be issued a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, May 13th. Consolidated Edison's payout ratio is presently 62.83%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ED. Scotiabank raised their target price on Consolidated Edison from $113.00 to $117.00 and gave the stock a "sector perform" rating in a research report on Friday, February 20th. Barclays upped their price target on Consolidated Edison from $100.00 to $110.00 and gave the company an "underweight" rating in a research report on Tuesday, February 24th. Citigroup reiterated a "buy" rating on shares of Consolidated Edison in a research note on Monday, February 23rd. Wells Fargo & Company set a $98.00 price objective on Consolidated Edison in a research note on Tuesday, April 21st. Finally, UBS Group upped their price objective on shares of Consolidated Edison from $108.00 to $112.00 and gave the company a "neutral" rating in a report on Friday, January 23rd. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, Consolidated Edison has a consensus rating of "Reduce" and an average price target of $108.92.

Insider Buying and Selling at Consolidated Edison

In other news, SVP Deneen L. Donnley sold 1,922 shares of the company's stock in a transaction dated Thursday, March 12th. The stock was 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 in the company, valued at $3,697,694.82. This represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.15% of the stock is currently owned by corporate insiders.

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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