Natixis Advisors LLC Sells 17,204 Shares of Consolidated Edison Inc $ED

Key Points

• Natixis Advisors LLC reduced its stake in Consolidated Edison by 11.6% in the fourth quarter, selling 17,204 shares and leaving it with 131,662 shares valued at about $13.1 million.
• Consolidated Edison reported weaker-than-expected quarterly results, with EPS of $2.18 versus estimates of $2.28 and revenue of $5.10 billion versus expectations of $5.22 billion.
• The company maintained its quarterly dividend, set at $0.8875 per share, equal to an annualized dividend of $3.55 and a yield of about 3.3%.

Natixis Advisors LLC decreased its position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 11.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 131,662 shares of the utilities provider's stock after selling 17,204 shares during the quarter. Natixis Advisors LLC's holdings in Consolidated Edison were worth $13,077,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Consolidated Edison by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 45,636,041 shares of the utilities provider's stock worth $4,532,572,000 after buying an additional 461,108 shares in the last quarter. State Street Corp grew its holdings in Consolidated Edison by 0.3% during the third quarter. State Street Corp now owns 24,050,572 shares of the utilities provider's stock worth $2,417,563,000 after buying an additional 63,346 shares in the last quarter. Lazard Asset Management LLC grew its holdings in Consolidated Edison by 121,543.9% during the third quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider's stock worth $599,155,000 after buying an additional 5,955,653 shares in the last quarter. Norges Bank bought a new stake in Consolidated Edison during the fourth quarter worth $489,806,000. Finally, Legal & General Group Plc grew its holdings in Consolidated Edison by 1.1% during the fourth quarter. Legal & General Group Plc now owns 4,399,844 shares of the utilities provider's stock worth $436,993,000 after buying an additional 48,314 shares in the last quarter. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Stock Performance

NYSE:ED opened at $106.31 on Friday. The business's 50-day moving average price is $109.20 and its two-hundred day moving average price is $106.24. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23. The stock has a market cap of $39.18 billion, a P/E ratio of 17.90, a PEG ratio of 2.70 and a beta of 0.27. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00.

Consolidated Edison (NYSE:ED - Get Free Report) last released 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 8.33%. The business 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 business earned $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, equities analysts predict that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th will be issued a $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. Consolidated Edison's dividend payout ratio (DPR) is presently 59.76%.

Analyst Ratings Changes

Several brokerages recently issued reports on ED. TD Cowen upped their price target on Consolidated Edison from $105.00 to $112.00 and gave the stock a "hold" rating in a report on Tuesday, February 24th. Wells Fargo & Company set a $98.00 price target on Consolidated Edison in a report on Tuesday, April 21st. KeyCorp upped their price target on Consolidated Edison from $96.00 to $97.00 and gave the stock an "underweight" rating in a report on Tuesday, April 21st. The Goldman Sachs Group reiterated a "sell" rating and set a $105.00 price target on shares of Consolidated Edison in a report on Thursday, May 14th. Finally, Barclays decreased their price target on Consolidated Edison from $110.00 to $107.00 and set an "underweight" rating for the company in a report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $107.79.

Insider Buying and Selling at Consolidated Edison

In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $3,697,694.82. This trade represents a 5.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.15% of the stock is currently owned by 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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