Consolidated Edison Inc $ED Shares Bought by Swedbank AB

Swedbank AB grew its holdings in Consolidated Edison Inc (NYSE:ED) by 1.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 331,793 shares of the utilities provider’s stock after buying an additional 6,112 shares during the period. Swedbank AB’s holdings in Consolidated Edison were worth $32,954,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ED. Lazard Asset Management LLC raised its holdings in shares of Consolidated Edison by 121,543.9% in the third quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock valued at $599,155,000 after buying an additional 5,955,653 shares during the last quarter. PFA Pension Forsikringsaktieselskab purchased a new stake in Consolidated Edison during the 4th quarter valued at approximately $113,977,000. AQR Capital Management LLC lifted its position in Consolidated Edison by 104.6% during the 3rd quarter. AQR Capital Management LLC now owns 1,905,678 shares of the utilities provider’s stock worth $190,530,000 after acquiring an additional 974,419 shares during the period. Qube Research & Technologies Ltd lifted its position in Consolidated Edison by 94.7% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,904,876 shares of the utilities provider’s stock worth $191,478,000 after acquiring an additional 926,716 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in Consolidated Edison by 344.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 891,895 shares of the utilities provider’s stock worth $88,583,000 after acquiring an additional 691,304 shares during the period. 66.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on ED. Bank of America reaffirmed an “underperform” rating and set a $104.00 price objective on shares of Consolidated Edison in a research report on Wednesday, February 25th. Citigroup reiterated a “buy” rating on shares of Consolidated Edison in a research report on Monday, February 23rd. The Goldman Sachs Group reissued a “sell” rating and issued a $105.00 price objective on shares of Consolidated Edison in a research note on Thursday, May 14th. TD Cowen boosted their price objective on shares of Consolidated Edison from $105.00 to $112.00 and gave the company a “hold” rating in a research note on Tuesday, February 24th. Finally, Barclays dropped their price objective on shares of Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating on the stock in a research note on Monday, May 11th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Consolidated Edison has an average rating of “Reduce” and a consensus price target of $108.71.

Insider Activity

In other news, SVP Deneen L. Donnley sold 1,922 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $113.94, for a total transaction of $218,992.68. Following the completion of the transaction, the senior vice president directly owned 32,453 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. Company insiders own 0.15% of the company’s stock.

Consolidated Edison Stock Performance

Shares of ED stock opened at $108.66 on Monday. The company has a market cap of $40.04 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 2.76 and a beta of 0.29. The stock has a 50 day simple moving average of $110.46 and a 200-day simple moving average of $105.80. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $116.23. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00.

Consolidated Edison (NYSE:ED) last issued its 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 business had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Consolidated Edison had a return on equity of 8.33% and a net margin of 12.52%.During the same period last year, the company posted $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, equities analysts forecast that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th will be paid a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, May 13th. Consolidated Edison’s dividend payout ratio is 59.76%.

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.