PFA Pension Forsikringsaktieselskab Invests $113.98 Million in Consolidated Edison Inc $ED

PFA Pension Forsikringsaktieselskab purchased a new position in shares of Consolidated Edison Inc (NYSE:ED) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,141,023 shares of the utilities provider’s stock, valued at approximately $113,977,000.

A number of other large investors have also recently made changes to their positions in ED. JPL Wealth Management LLC purchased a new stake in shares of Consolidated Edison during the third quarter worth approximately $26,000. Aventura Private Wealth LLC purchased a new stake in shares of Consolidated Edison during the fourth quarter worth approximately $27,000. Westfuller Advisors LLC purchased a new stake in shares of Consolidated Edison during the fourth quarter worth approximately $27,000. Dorato Capital Management purchased a new stake in shares of Consolidated Edison during the fourth quarter worth approximately $28,000. Finally, Salomon & Ludwin LLC increased its stake in shares of Consolidated Edison by 270.4% during the third quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock worth $30,000 after buying an additional 219 shares during the period. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ED has been the topic of a number of recent research reports. TD Cowen upped their target price on shares of Consolidated Edison from $105.00 to $112.00 and gave the stock a “hold” rating in a research note on Tuesday, February 24th. KeyCorp upped their target price on shares of Consolidated Edison from $96.00 to $97.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 21st. UBS Group upped their target price on shares of Consolidated Edison from $108.00 to $112.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. Scotiabank upped 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 note on Friday, February 20th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $118.00 target price on shares of Consolidated Edison in a research note on Friday, January 23rd. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $108.92.

Insider Buying and Selling

In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $113.94, for a total value of $218,992.68. Following the transaction, the senior vice president directly owned 32,453 shares in the company, valued at $3,697,694.82. This represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.15% of the stock is owned by corporate insiders.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $110.61 on Friday. The firm has a market capitalization of $40.75 billion, a P/E ratio of 19.58, a P/E/G ratio of 2.84 and a beta of 0.29. 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 firm’s 50 day moving average is $111.76 and its two-hundred day moving average is $105.06.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, February 19th. The utilities provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.86 by $0.03. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $3.71 billion. Consolidated Edison had a net margin of 11.95% and a return on equity of 8.50%. The firm’s revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.98 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Research analysts forecast that Consolidated Edison Inc will post 6.08 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th will be paid a $0.8875 dividend. This represents a $3.55 annualized dividend and a yield of 3.2%. The ex-dividend date is Wednesday, May 13th. Consolidated Edison’s dividend payout ratio is currently 62.83%.

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.