Geode Capital Management LLC Boosts Stock Position in Consolidated Edison Inc $ED

Key Points

• Geode Capital Management slightly increased its stake in Consolidated Edison by 0.2% in the fourth quarter, ending with about 9.99 million shares worth roughly $988.4 million.
• Consolidated Edison’s latest quarterly results missed analyst expectations, with EPS of $2.18 versus the $2.28 consensus and revenue of $5.10 billion versus $5.22 billion expected.
• The company announced a quarterly dividend of $0.8875 per share, implying an annualized yield of about 3.4%; meanwhile, analysts currently have an average rating of "Reduce" with a consensus price target of $108.71.

Geode Capital Management LLC raised its stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 0.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,988,113 shares of the utilities provider's stock after buying an additional 17,294 shares during the quarter. Geode Capital Management LLC owned about 2.77% of Consolidated Edison worth $988,380,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ED. JPL Wealth Management LLC bought a new position in shares of Consolidated Edison during the third quarter valued at $26,000. Aventura Private Wealth LLC bought a new stake in Consolidated Edison during the 4th quarter valued at about $27,000. Westfuller Advisors LLC purchased a new position in Consolidated Edison in the fourth quarter worth about $27,000. Dorato Capital Management bought a new position in shares of Consolidated Edison in the fourth quarter worth approximately $28,000. Finally, WealthCollab LLC grew its holdings in shares of Consolidated Edison by 68.4% during the fourth quarter. WealthCollab LLC now owns 315 shares of the utilities provider's stock valued at $31,000 after buying an additional 128 shares during the last quarter. 66.29% of the stock is owned by institutional investors.

Insider Activity at Consolidated Edison

In related news, SVP Deneen L. Donnley sold 1,922 shares of the company's 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Weiss Ratings raised Consolidated Edison from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, April 24th. TD Cowen boosted their price objective on shares of Consolidated Edison from $105.00 to $112.00 and gave the company a "hold" rating in a report on Tuesday, February 24th. Scotiabank lifted their target price on shares of Consolidated Edison from $113.00 to $117.00 and gave the stock a "sector perform" rating in a research report on Friday, February 20th. Evercore set a $116.00 price target on Consolidated Edison in a report on Monday, May 11th. Finally, KeyCorp lifted their price objective on Consolidated Edison from $96.00 to $97.00 and gave the stock an "underweight" rating in a report on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat.com, Consolidated Edison has an average rating of "Reduce" and a consensus target price of $108.71.

Consolidated Edison Trading Down 0.4%

Shares of 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 P/E/G ratio of 2.70 and a beta of 0.29. The company has a fifty day moving average of $109.77 and a 200 day moving average of $106.10.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The utilities provider reported $2.18 EPS for the quarter, missing the consensus estimate of $2.28 by ($0.10). The business had revenue of $5.10 billion during the quarter, compared to analysts' expectations of $5.22 billion. Consolidated Edison had a net margin of 12.52% and a return on equity of 8.33%. During the same quarter 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. On average, sell-side analysts anticipate 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. The ex-dividend date is Wednesday, May 13th. This represents a $3.55 annualized dividend and a dividend yield of 3.4%. Consolidated Edison's dividend payout ratio (DPR) is presently 59.76%.

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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