Newport Trust Company LLC Decreases Position in Consolidated Edison Inc $ED

Key Points

• Newport Trust Company LLC reduced its Consolidated Edison stake by 2.7% in the fourth quarter, selling 13,747 shares and ending with 489,408 shares valued at about $48.6 million.
• Insider activity also showed selling, as SVP Deneen L. Donnley sold 1,922 shares for about $219,000, trimming her position by 5.59%.
• Consolidated Edison reported Q1 earnings below expectations with EPS of $2.18 versus $2.28 expected, while also affirming a quarterly dividend of $0.8875 per share and FY 2026 EPS guidance of 6.00 to 6.20.

Newport Trust Company LLC cut its stake in Consolidated Edison Inc (NYSE:ED - Free Report) by 2.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 489,408 shares of the utilities provider's stock after selling 13,747 shares during the quarter. Newport Trust Company LLC owned approximately 0.14% of Consolidated Edison worth $48,608,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Global Retirement Partners LLC lifted its stake in Consolidated Edison by 42.7% in the 4th quarter. Global Retirement Partners LLC now owns 4,702 shares of the utilities provider's stock valued at $467,000 after buying an additional 1,407 shares in the last quarter. ABN Amro Investment Solutions lifted its stake in Consolidated Edison by 165.1% in the 4th quarter. ABN Amro Investment Solutions now owns 29,536 shares of the utilities provider's stock valued at $2,934,000 after buying an additional 18,394 shares in the last quarter. IFP Advisors Inc lifted its stake in Consolidated Edison by 20.6% in the 4th quarter. IFP Advisors Inc now owns 18,516 shares of the utilities provider's stock valued at $1,839,000 after buying an additional 3,162 shares in the last quarter. Cullen Frost Bankers Inc. lifted its stake in Consolidated Edison by 16.6% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,011 shares of the utilities provider's stock valued at $100,000 after buying an additional 144 shares in the last quarter. Finally, Covestor Ltd lifted its stake in Consolidated Edison by 91.5% in the 4th quarter. Covestor Ltd now owns 1,978 shares of the utilities provider's stock valued at $197,000 after buying an additional 945 shares in the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Deneen L. Donnley sold 1,922 shares of Consolidated Edison stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $113.94, for a total value of $218,992.68. Following the completion of the sale, the senior vice president owned 32,453 shares in the company, 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.

Consolidated Edison Stock Up 1.0%

Shares of NYSE ED opened at $107.37 on Friday. The company has a 50 day simple moving average of $110.52 and a 200-day simple moving average of $105.72. The company has a market capitalization of $39.57 billion, a P/E ratio of 18.08, a P/E/G ratio of 2.70 and a beta of 0.29. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.19 and a quick ratio of 1.09. Consolidated Edison Inc has a 1 year low of $94.96 and a 1 year high of $116.23.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The utilities provider reported $2.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.28 by ($0.10). The firm had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.22 billion. Consolidated Edison had a return on equity of 8.33% and a net margin of 12.52%.During the same quarter in the prior year, the business earned $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, equities research analysts predict that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Wednesday, May 13th will be given a dividend of $0.8875 per share. 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 (DPR) is presently 59.76%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ED. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $118.00 price target on shares of Consolidated Edison in a research note on Friday, January 23rd. Evercore set a $116.00 price objective on shares of Consolidated Edison in a report on Monday, May 11th. Morgan Stanley set a $99.00 price objective on shares of Consolidated Edison in a report on Thursday. JPMorgan Chase & Co. increased their price objective on shares of Consolidated Edison from $107.00 to $113.00 and gave the company an "underweight" rating in a report on Thursday, March 12th. Finally, Barclays cut their price objective on shares of Consolidated Edison from $110.00 to $107.00 and set an "underweight" rating for the company in a report on Monday, May 11th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Reduce" and an average price target of $108.71.

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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