Sienna Gestion Increases Stock Holdings in Consolidated Edison Inc $ED

Key Points

• Sienna Gestion increased its stake in Consolidated Edison by 30.8% in the fourth quarter, buying 18,188 more shares and bringing its total to 77,327 shares worth about $7.69 million.
• Consolidated Edison reported Q1 earnings of $2.18 per share, missing analyst expectations of $2.28, while revenue of $5.10 billion also came in below estimates. The company reaffirmed FY 2026 guidance of $6.00 to $6.20 EPS.
• The utility recently paid a quarterly dividend of $0.8875, equal to an annualized yield of about 3.3%. Analysts remain cautious overall, with a consensus rating of “Reduce” and an average price target of $107.79.

Sienna Gestion raised its stake in Consolidated Edison Inc (NYSE:ED - Free Report) by 30.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 77,327 shares of the utilities provider's stock after purchasing an additional 18,188 shares during the period. Sienna Gestion's holdings in Consolidated Edison were worth $7,686,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of 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 acquiring an additional 461,108 shares during the last quarter. State Street Corp grew its position in shares of Consolidated Edison by 3.6% during the fourth quarter. State Street Corp now owns 24,905,440 shares of the utilities provider's stock worth $2,473,608,000 after acquiring an additional 854,868 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of 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 acquiring an additional 5,955,653 shares during the last quarter. Norges Bank purchased a new position in shares of Consolidated Edison during the fourth quarter worth approximately $489,806,000. Finally, Legal & General Group Plc grew its position in shares of 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 acquiring an additional 48,314 shares during the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Stock Performance

NYSE:ED opened at $107.70 on Tuesday. The firm's fifty day moving average price is $108.44 and its 200 day moving average price is $106.54. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.23. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.19 and a quick ratio of 1.09. The firm has a market cap of $39.69 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 2.74 and a beta of 0.27.

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 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 8.33%. The firm had revenue of $5.10 billion during the quarter, compared to analysts' expectations of $5.22 billion. During the same quarter last year, the business 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 expect that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Wednesday, May 13th were given a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Wednesday, May 13th. Consolidated Edison's dividend payout ratio (DPR) is 59.76%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ED shares. Barclays lowered their target price on shares of Consolidated Edison from $110.00 to $107.00 and set an "underweight" rating on the stock in a research report on Monday, May 11th. Morgan Stanley set a $99.00 target price on shares of Consolidated Edison in a research report on Thursday, May 21st. The Goldman Sachs Group restated a "sell" rating and set a $105.00 target price on shares of Consolidated Edison in a research report on Thursday, May 14th. Bank of America restated an "underperform" rating and set a $104.00 target price on shares of Consolidated Edison in a research report on Wednesday, February 25th. Finally, Scotiabank raised 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. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Consolidated Edison currently has a consensus rating of "Reduce" and an average price target of $107.79.

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.

Want to see what other hedge funds are holding ED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Consolidated Edison Inc (NYSE:ED - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.