Principal Financial Group Inc. Acquires 49,109 Shares of Consolidated Edison Inc $ED

Key Points

• Principal Financial Group increased its stake in Consolidated Edison by 9.9% in the fourth quarter, buying 49,109 additional shares to bring its total holdings to 546,386 shares worth about $54.3 million.
• Consolidated Edison recently reported first-quarter earnings and revenue that missed analyst estimates, with EPS of $2.18 versus expectations of $2.28 and revenue of $5.10 billion versus $5.22 billion.
• The company reaffirmed full-year FY2026 EPS guidance of $6.00 to $6.20 and declared a quarterly dividend of $0.8875 per share, implying an annual yield of about 3.3%.

Principal Financial Group Inc. boosted its holdings in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 9.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 546,386 shares of the utilities provider's stock after purchasing an additional 49,109 shares during the quarter. Principal Financial Group Inc. owned about 0.15% of Consolidated Edison worth $54,267,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Consolidated Edison by 13.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,819 shares of the utilities provider's stock valued at $7,320,000 after purchasing an additional 8,562 shares during the last quarter. Nuance Investments LLC bought a new position in shares of Consolidated Edison during the 3rd quarter valued at approximately $4,017,000. Bryce Point Capital LLC bought a new position in shares of Consolidated Edison during the 3rd quarter valued at approximately $556,000. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Consolidated Edison by 3.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,028,686 shares of the utilities provider's stock valued at $103,404,000 after purchasing an additional 29,606 shares during the last quarter. Finally, Caprock Group LLC bought a new position in shares of Consolidated Edison during the 3rd quarter valued at approximately $2,586,000. Institutional investors own 66.29% of the company's stock.

Insider Buying and Selling at Consolidated Edison

In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of the company's stock in a transaction 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 completion of the sale, the senior vice president directly owned 32,453 shares in the company, valued at approximately $3,697,694.82. This represents a 5.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.15% of the company's stock.

Wall Street Analysts Forecast Growth

ED has been the subject of a number of research analyst reports. Mizuho set a $118.00 price target on Consolidated Edison in a research note on Monday, February 23rd. Weiss Ratings upgraded Consolidated Edison from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, April 24th. Scotiabank boosted their price objective on Consolidated Edison from $113.00 to $117.00 and gave the company a "sector perform" rating in a report on Friday, February 20th. KeyCorp boosted their price objective on Consolidated Edison from $96.00 to $97.00 and gave the company an "underweight" rating in a report on Tuesday, April 21st. Finally, Citigroup restated a "buy" rating on shares of Consolidated Edison in a report on Monday, February 23rd. Three 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. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $108.92.

More Consolidated Edison News

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

Consolidated Edison Price Performance

ED opened at $106.34 on Friday. The business has a fifty day moving average of $111.55 and a 200 day moving average of $105.24. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $116.23. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 1.06. The stock has a market cap of $39.18 billion, a P/E ratio of 17.90, a PEG ratio of 2.71 and a beta of 0.29.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings data 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). Consolidated Edison had a net margin of 12.52% and a return on equity of 8.47%. The business had revenue of $5.10 billion for the quarter, compared to analysts' expectations of $5.22 billion. During the same quarter in the previous year, the firm earned $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, sell-side analysts anticipate that Consolidated Edison Inc will post 6.08 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently announced 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. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Wednesday, May 13th. Consolidated Edison's dividend payout ratio is currently 62.83%.

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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