Consolidated Edison Inc $ED Shares Acquired by Sterling Capital Management LLC

Sterling Capital Management LLC increased its position in shares of Consolidated Edison Inc (NYSE:ED) by 251.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 40,649 shares of the utilities provider’s stock after buying an additional 29,090 shares during the quarter. Sterling Capital Management LLC’s holdings in Consolidated Edison were worth $4,155,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ED. Inspire Investing LLC lifted its holdings in shares of Consolidated Edison by 8.2% in the 3rd quarter. Inspire Investing LLC now owns 19,618 shares of the utilities provider’s stock worth $2,005,000 after purchasing an additional 1,492 shares in the last quarter. MBL Wealth LLC acquired a new stake in Consolidated Edison in the 3rd quarter valued at $239,000. Curry Webb Wealth Management LLC acquired a new stake in Consolidated Edison in the 3rd quarter valued at $89,000. Brookstone Capital Management increased its stake in Consolidated Edison by 4.4% during the 3rd quarter. Brookstone Capital Management now owns 27,574 shares of the utilities provider’s stock valued at $2,818,000 after purchasing an additional 1,151 shares in the last quarter. Finally, Root Financial Partners LLC bought a new stake in Consolidated Edison during the 3rd quarter valued at $160,000. Institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Evercore reiterated a “positive” rating and set a $112.00 price objective on shares of Consolidated Edison in a report on Monday, August 17th. Morgan Stanley decreased their target price on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a research report on Friday, September 18th. Mizuho set a $108.00 price target on Consolidated Edison in a report on Wednesday, October 7th. Finally, KeyCorp decreased their target price on Consolidated Edison from $94.00 to $87.00 and set an “underweight” rating for the company in a research report on Tuesday, October 13th. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $107.50.

Consolidated Edison Stock Down 0.4%

ED stock opened at $115.82 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 1.04. The company’s 50 day moving average is $107.03 and its 200 day moving average is $108.44. The stock has a market cap of $42.83 billion, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 4.01 and a beta of 0.26. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.50.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. The business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $3.60 billion. During the same period in the previous year, the business posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Sell-side analysts predict that Consolidated Edison Inc will post 6.10 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Wednesday, November 18th will be issued a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Wednesday, November 18th. Consolidated Edison’s payout ratio is currently 58.29%.

Consolidated Edison Profile

Consolidated Edison, Inc is a diversified energy company headquartered in New York City. Through its regulated utility subsidiaries, the company delivers electricity, natural gas and steam to residential, commercial and industrial customers.

Its principal subsidiary, Consolidated Edison Company of New York, provides electric service throughout New York City and Westchester County, along with gas service in Manhattan, the Bronx, parts of Queens and Westchester County, and steam service in parts of Manhattan.