Consolidated Edison Inc $ED Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund cut its stake in Consolidated Edison Inc (NYSE:ED) by 17.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 210,570 shares of the utilities provider’s stock after selling 45,253 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.06% of Consolidated Edison worth $20,914,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ED. Vanguard Group Inc. raised its holdings 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 valued at $4,532,572,000 after buying an additional 461,108 shares during the period. State Street Corp lifted its position in Consolidated Edison by 0.3% during the 3rd quarter. State Street Corp now owns 24,050,572 shares of the utilities provider’s stock worth $2,417,563,000 after acquiring an additional 63,346 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in Consolidated Edison by 121,543.9% in the 3rd quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock worth $599,155,000 after acquiring an additional 5,955,653 shares during the period. Norges Bank purchased a new position in Consolidated Edison in the 4th quarter worth approximately $489,806,000. Finally, Legal & General Group Plc grew its position in Consolidated Edison by 1.1% in the fourth quarter. Legal & General Group Plc now owns 4,399,844 shares of the utilities provider’s stock valued at $436,993,000 after acquiring an additional 48,314 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Bank of America reiterated an “underperform” rating and set a $104.00 price objective on shares of Consolidated Edison in a research note on Wednesday, February 25th. TD Cowen raised their price target on shares of Consolidated Edison from $105.00 to $112.00 and gave the company a “hold” rating in a report on Tuesday, February 24th. KeyCorp lifted their price target 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. Morgan Stanley set a $99.00 price objective on shares of Consolidated Edison in a report on Thursday, May 21st. Finally, Evercore set a $116.00 price objective on shares of Consolidated Edison in a research report on Monday, May 11th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $107.79.

Consolidated Edison Price Performance

Shares of ED opened at $107.67 on Thursday. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week 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. The firm has a market cap of $39.68 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 2.70 and a beta of 0.27. The stock has a 50 day moving average of $108.84 and a 200-day moving average of $106.36.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data 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 firm had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.22 billion. Consolidated Edison had a return on equity of 8.33% and a net margin of 12.52%.During the same quarter last year, the business earned $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, analysts forecast that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Announces Dividend

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