62,232 Shares in Consolidated Edison Inc $ED Acquired by Cinctive Capital Management LP

Cinctive Capital Management LP acquired a new position in shares of Consolidated Edison Inc (NYSE:ED) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 62,232 shares of the utilities provider’s stock, valued at approximately $6,181,000.

Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Consolidated Edison by 1.0% during the 4th 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 in the last quarter. State Street Corp raised its stake in shares of Consolidated Edison by 3.6% during the 4th 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 in the last quarter. Lazard Asset Management LLC grew its position in Consolidated Edison by 3.4% during the 4th quarter. Lazard Asset Management LLC now owns 6,165,594 shares of the utilities provider’s stock worth $612,367,000 after purchasing an additional 205,041 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Consolidated Edison by 11.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,200,840 shares of the utilities provider’s stock worth $516,549,000 after purchasing an additional 514,178 shares during the last quarter. Finally, Norges Bank purchased a new stake in Consolidated Edison during the 4th quarter worth approximately $489,806,000. Institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ED. Barclays dropped 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. Citigroup reissued a “buy” rating on shares of Consolidated Edison in a research report on Monday, February 23rd. Bank of America reissued an “underperform” rating and set a $104.00 target price on shares of Consolidated Edison in a research report on Wednesday, February 25th. Scotiabank boosted 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. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $105.00 target price on shares of Consolidated Edison in a research report on Thursday, May 14th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat.com, Consolidated Edison currently has a consensus rating of “Reduce” and an average price target of $107.79.

Consolidated Edison Stock Down 1.2%

ED stock opened at $107.07 on Thursday. The firm’s fifty day simple moving average is $108.15 and its 200-day simple moving average is $106.64. The company has a market capitalization of $39.46 billion, a P/E ratio of 18.03, a price-to-earnings-growth ratio of 2.75 and a beta of 0.27. 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 12 month low of $94.96 and a 12 month high of $116.23.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, May 7th. The utilities provider reported $2.18 EPS for the quarter, missing the consensus estimate of $2.28 by ($0.10). The business had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Consolidated Edison had a net margin of 12.52% and a return on equity of 8.33%. During the same period last year, the company earned $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, equities research analysts forecast that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th were issued a $0.8875 dividend. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was 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.