Generali Asset Management SPA SGR Purchases 14,524 Shares of Consolidated Edison Inc $ED

Key Points

• Generali Asset Management increased its stake in Consolidated Edison by 36% in the fourth quarter, buying 14,524 additional shares for a total of 54,869 shares valued at about $5.45 million.
• Con Edison reported higher first-quarter net income and revenue on strong electricity, gas, and steam demand, but adjusted earnings and revenue still missed analyst estimates.
• The utility reaffirmed full-year EPS guidance of $6.00 to $6.20 and announced a quarterly dividend of $0.8875 per share, implying a 3.3% annualized yield.

Generali Asset Management SPA SGR grew its position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 36.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,869 shares of the utilities provider's stock after purchasing an additional 14,524 shares during the period. Generali Asset Management SPA SGR's holdings in Consolidated Edison were worth $5,450,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ED. JPL Wealth Management LLC purchased a new stake in shares of Consolidated Edison in the third quarter worth $26,000. Aventura Private Wealth LLC bought a new position in Consolidated Edison in the 4th quarter worth about $27,000. Westfuller Advisors LLC bought a new position in Consolidated Edison in the 4th quarter worth about $27,000. Dorato Capital Management purchased a new stake in shares of Consolidated Edison in the 4th quarter valued at about $28,000. Finally, WealthCollab LLC raised its holdings in shares of Consolidated Edison by 68.4% in the 4th quarter. WealthCollab LLC now owns 315 shares of the utilities provider's stock valued at $31,000 after acquiring an additional 128 shares in the last quarter. 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

Insider Activity

In related 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 transaction, the senior vice president owned 32,453 shares of the company's stock, valued at approximately $3,697,694.82. This trade represents a 5.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ED. Bank of America reissued an "underperform" rating and set a $104.00 price objective on shares of Consolidated Edison in a report on Wednesday, February 25th. Citigroup reiterated a "buy" rating on shares of Consolidated Edison in a research report on Monday, February 23rd. Scotiabank boosted their price target on shares of Consolidated Edison from $113.00 to $117.00 and gave the stock a "sector perform" rating in a research note on Friday, February 20th. UBS Group increased their price target on shares of Consolidated Edison from $108.00 to $112.00 and gave the stock a "neutral" rating in a report on Friday, January 23rd. Finally, KeyCorp raised their price objective on shares of Consolidated Edison from $96.00 to $97.00 and gave the company an "underweight" rating in a research report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $108.92.

Consolidated Edison Stock Performance

Shares of NYSE ED opened at $106.34 on Friday. The stock has a market cap of $39.18 billion, a price-to-earnings ratio of 17.90, a P/E/G ratio of 2.71 and a beta of 0.29. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.23. The stock's 50-day moving average is $111.55 and its 200 day moving average is $105.24.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its earnings results on Thursday, May 7th. The utilities provider reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.10). Consolidated Edison had a return on equity of 8.47% and a net margin of 12.52%.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 prior year, the company earned $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, sell-side analysts anticipate that Consolidated Edison Inc will post 6.08 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

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

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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