Sienna Gestion Boosts Holdings in Consolidated Edison Inc $ED

Sienna Gestion raised its holdings in Consolidated Edison Inc (NYSE:ED) by 30.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 77,327 shares of the utilities provider’s stock after acquiring an additional 18,188 shares during the quarter. Sienna Gestion’s holdings in Consolidated Edison were worth $7,686,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ED. Lazard Asset Management LLC lifted its holdings in Consolidated Edison by 121,543.9% in the third quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock valued at $599,155,000 after acquiring an additional 5,955,653 shares during the period. Norges Bank acquired a new stake in Consolidated Edison in the fourth quarter valued at $489,806,000. Deutsche Bank AG lifted its holdings in Consolidated Edison by 101.4% in the fourth quarter. Deutsche Bank AG now owns 3,617,361 shares of the utilities provider’s stock valued at $359,276,000 after acquiring an additional 1,820,877 shares during the period. PFA Pension Forsikringsaktieselskab acquired a new stake in Consolidated Edison in the fourth quarter valued at $113,977,000. Finally, AQR Capital Management LLC lifted its holdings in Consolidated Edison by 104.6% in the third quarter. AQR Capital Management LLC now owns 1,905,678 shares of the utilities provider’s stock valued at $190,530,000 after acquiring an additional 974,419 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

ED has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their target price on Consolidated Edison from $107.00 to $113.00 and gave the company an “underweight” rating in a report on Thursday, March 12th. Wells Fargo & Company set a $98.00 target price on Consolidated Edison in a report on Tuesday, April 21st. Morgan Stanley set a $99.00 target price on Consolidated Edison in a report on Thursday, May 21st. Scotiabank boosted their price objective 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 issued a $105.00 price objective on shares of Consolidated Edison in a research note 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. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $107.79.

Consolidated Edison Stock Performance

NYSE:ED opened at $107.70 on Tuesday. 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 50-day moving average price of $108.44 and a two-hundred day moving average price of $106.54. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23. The company has a market capitalization of $39.69 billion, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 2.74 and a beta of 0.27.

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

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Wednesday, May 13th were paid a $0.8875 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $3.55 annualized dividend and a yield of 3.3%. Consolidated Edison’s payout ratio is presently 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.