ING Groep NV Has $3.15 Million Position in Consolidated Edison Inc $ED

Key Points

• ING Groep NV cut its Consolidated Edison stake by 32.1% in the fourth quarter, selling 14,978 shares and leaving it with 31,709 shares valued at about $3.15 million.
• Consolidated Edison reported mixed quarterly results, posting EPS of $2.18 versus the $2.28 consensus and revenue of $5.10 billion versus the expected $5.22 billion.
• The company declared a quarterly dividend of $0.8875 per share, translating to an annualized yield of about 3.4%; meanwhile, analysts currently have an average rating of “Reduce” with an average target price of $107.79.

ING Groep NV decreased its position in Consolidated Edison Inc (NYSE:ED - Free Report) by 32.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 31,709 shares of the utilities provider's stock after selling 14,978 shares during the period. ING Groep NV's holdings in Consolidated Edison were worth $3,149,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Los Angeles Capital Management LLC lifted its stake in Consolidated Edison by 9.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 253,230 shares of the utilities provider's stock valued at $24,865,000 after acquiring an additional 20,972 shares in the last quarter. XML Financial LLC bought a new stake in Consolidated Edison in the 4th quarter valued at approximately $303,000. Havemeyer Place LP acquired a new position in Consolidated Edison during the fourth quarter valued at approximately $1,046,000. Pinebridge Investments LLC acquired a new position in Consolidated Edison during the fourth quarter valued at approximately $2,213,000. Finally, PBU The Pension Fund of Early Childhood & Youth Educators acquired a new position in Consolidated Edison during the fourth quarter valued at approximately $7,944,000. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Price Performance

NYSE:ED opened at $104.37 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00. The stock's 50 day moving average price is $109.06 and its two-hundred day moving average price is $106.27. The firm has a market capitalization of $38.46 billion, a price-to-earnings ratio of 17.57, a P/E/G ratio of 2.70 and a beta of 0.27. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $116.23.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $5.10 billion during the quarter, compared to the consensus estimate 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 prior year, the company earned $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, analysts anticipate that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently commented on ED shares. Bank of America reissued an "underperform" rating and set a $104.00 price target on shares of Consolidated Edison in a research report on Wednesday, February 25th. TD Cowen increased their price target on Consolidated Edison from $105.00 to $112.00 and gave the company a "hold" rating in a research report on Tuesday, February 24th. Weiss Ratings raised Consolidated Edison from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, April 24th. Wells Fargo & Company set a $98.00 price target on Consolidated Edison in a research report on Tuesday, April 21st. Finally, Mizuho reissued a "neutral" rating and set a $105.00 price target on shares of Consolidated Edison in a research report on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $107.79.

Insider Transactions at Consolidated Edison

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 value of $218,992.68. Following the sale, the senior vice president 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is owned by corporate insiders.

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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