DNB Asset Management AS Increases Holdings in Consolidated Edison Inc $ED

DNB Asset Management AS grew its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 52.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 222,920 shares of the utilities provider’s stock after purchasing an additional 76,914 shares during the period. DNB Asset Management AS’s holdings in Consolidated Edison were worth $22,140,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ED. JPL Wealth Management LLC purchased a new stake in Consolidated Edison during the 3rd quarter worth about $26,000. Aventura Private Wealth LLC purchased a new stake in Consolidated Edison during the 4th quarter worth about $27,000. Westfuller Advisors LLC purchased a new stake in Consolidated Edison during the 4th quarter worth about $27,000. Dorato Capital Management purchased a new stake in Consolidated Edison during the 4th quarter worth about $28,000. Finally, WealthCollab LLC lifted its holdings in Consolidated Edison by 68.4% during the 4th quarter. WealthCollab LLC now owns 315 shares of the utilities provider’s stock worth $31,000 after buying an additional 128 shares during the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Stock Performance

Shares of ED stock opened at $105.37 on Friday. The stock has a market capitalization of $38.83 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 2.68 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 stock’s 50-day moving average price is $110.88 and its 200 day moving average price is $105.42. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, May 7th. The utilities provider reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter last year, the firm earned $2.26 EPS. 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 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. Investors of record on Wednesday, May 13th will be given a $0.8875 dividend. This represents a $3.55 annualized dividend and a yield of 3.4%. The ex-dividend date is Wednesday, May 13th. Consolidated Edison’s payout ratio is 59.76%.

Insider Transactions at Consolidated Edison

In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of the business’s 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 transaction, the senior vice president owned 32,453 shares in the company, valued at approximately $3,697,694.82. The trade was a 5.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ED shares. Bank of America reaffirmed an “underperform” rating and set a $104.00 price target on shares of Consolidated Edison in a report on Wednesday, February 25th. Barclays decreased their price target on Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating for the company in a report on Monday, May 11th. Mizuho set a $118.00 price target on Consolidated Edison in a report on Monday, February 23rd. Citigroup reaffirmed a “buy” rating on shares of Consolidated Edison in a report on Monday, February 23rd. Finally, Morgan Stanley decreased their price target on Consolidated Edison from $106.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $109.14.

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.