Nuance Investments LLC increased its holdings in shares of Consolidated Edison Inc (NYSE:ED – Free Report) by 23.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,246 shares of the utilities provider’s stock after acquiring an additional 9,284 shares during the period. Nuance Investments LLC’s holdings in Consolidated Edison were worth $4,891,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the business. JPL Wealth Management LLC bought a new position in Consolidated Edison in the 3rd quarter valued at $26,000. Basepoint Wealth LLC bought a new position in Consolidated Edison in the 4th quarter valued at $26,000. Aventura Private Wealth LLC bought a new position in Consolidated Edison in the 4th quarter valued at $27,000. Westfuller Advisors LLC bought a new position in Consolidated Edison in the 4th quarter valued at $27,000. Finally, Dorato Capital Management bought a new position in Consolidated Edison in the 4th quarter valued at $28,000. 66.29% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of brokerages have commented on ED. Wells Fargo & Company set a $98.00 price objective on Consolidated Edison in a research report on Tuesday, April 21st. KeyCorp increased their price objective on Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a research report on Tuesday, April 21st. TD Cowen increased their price objective on Consolidated Edison from $105.00 to $112.00 and gave the company a “hold” rating in a research report on Tuesday, February 24th. Morgan Stanley set a $99.00 price objective on Consolidated Edison in a research report on Thursday, May 21st. Finally, Bank of America reiterated an “underperform” rating and issued a $104.00 price objective on shares of Consolidated Edison in a research report on Wednesday, February 25th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $107.79.
Insider Buying and Selling at Consolidated Edison
In other news, SVP Deneen L. Donnley sold 1,922 shares of the 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 transaction, the senior vice president owned 32,453 shares of the company’s stock, valued at $3,697,694.82. This represents a 5.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.15% of the stock is currently owned by company insiders.
Consolidated Edison Stock Performance
ED stock opened at $106.31 on Friday. The business’s fifty day moving average is $109.20 and its 200-day moving average is $106.24. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00. The company has a market cap of $39.18 billion, a P/E ratio of 17.90, a price-to-earnings-growth ratio of 2.64 and a beta of 0.27. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23.
Consolidated Edison (NYSE:ED – Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $5.10 billion during the quarter, compared to analyst estimates 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 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities research analysts forecast that Consolidated Edison Inc will post 6.09 EPS for the current year.
Consolidated Edison Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th will be paid a $0.8875 dividend. 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 is 59.76%.
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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