Eurizon Capital SGR S.p.A. Takes Position in Consolidated Edison Inc $ED

Key Points

• Eurizon Capital SGR S.p.A. opened a new position in Consolidated Edison during the fourth quarter, buying 351,450 shares valued at about $34.9 million.
• Consolidated Edison reported quarterly earnings of $2.18 per share, missing analysts’ estimate of $2.28, while revenue of $5.10 billion also came in below expectations.
• The utility declared a quarterly dividend of $0.8875 per share, implying a 3.4% annualized yield, even as analysts currently hold a consensus rating of “Reduce” on the stock.

Eurizon Capital SGR S.p.A. acquired a new stake in Consolidated Edison Inc (NYSE:ED - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 351,450 shares of the utilities provider's stock, valued at approximately $34,912,000. Eurizon Capital SGR S.p.A. owned approximately 0.10% of Consolidated Edison at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ED. Vanguard Group Inc. grew its stake in Consolidated Edison by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 45,636,041 shares of the utilities provider's stock worth $4,532,572,000 after purchasing an additional 461,108 shares in the last quarter. State Street Corp grew its stake in Consolidated Edison by 0.3% during the 3rd quarter. State Street Corp now owns 24,050,572 shares of the utilities provider's stock worth $2,417,563,000 after purchasing an additional 63,346 shares in the last quarter. Lazard Asset Management LLC grew its stake in Consolidated Edison by 121,543.9% during the 3rd quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider's stock worth $599,155,000 after purchasing an additional 5,955,653 shares in the last quarter. Legal & General Group Plc grew its stake in Consolidated Edison by 1.1% during the 4th quarter. Legal & General Group Plc now owns 4,399,844 shares of the utilities provider's stock worth $436,993,000 after purchasing an additional 48,314 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Consolidated Edison by 1.4% during the 3rd quarter. Northern Trust Corp now owns 4,128,793 shares of the utilities provider's stock worth $415,026,000 after purchasing an additional 57,365 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Down 0.4%

Consolidated Edison stock opened at $105.88 on Friday. Consolidated Edison Inc has a fifty-two week low of $94.96 and a fifty-two week high of $116.23. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.19. The company has a market capitalization of $39.02 billion, a P/E ratio of 17.82, a PEG ratio of 2.68 and a beta of 0.29. The stock has a 50-day simple moving average of $109.77 and a 200-day simple moving average of $106.10.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its 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 8.33%. The firm had revenue of $5.10 billion during the quarter, compared to analysts' expectations of $5.22 billion. During the same period in the previous year, the firm posted $2.26 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 6.09 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th will be issued a $0.8875 dividend. This represents a $3.55 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, May 13th. Consolidated Edison's payout ratio is presently 59.76%.

Wall Street Analyst Weigh In

ED has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on Consolidated Edison from $107.00 to $113.00 and gave the stock an "underweight" rating in a research note on Thursday, March 12th. TD Cowen boosted their target price on Consolidated Edison from $105.00 to $112.00 and gave the stock a "hold" rating in a research note on Tuesday, February 24th. Evercore set a $116.00 target price on Consolidated Edison in a research note on Monday, May 11th. Morgan Stanley set a $99.00 target price on Consolidated Edison in a research note on Thursday, May 21st. Finally, Bank of America reissued an "underperform" rating and set a $104.00 target price on shares of Consolidated Edison in a research note on Wednesday, February 25th. 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 company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average target price of $108.71.

Insider Buying and Selling

In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of the company's stock in a transaction that occurred 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 directly owned 32,453 shares of the company's stock, valued at $3,697,694.82. This represents a 5.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is currently owned by corporate insiders.

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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