Consolidated Edison Inc $ED Shares Sold by Xponance Inc.

Xponance Inc. lessened its stake in shares of Consolidated Edison Inc (NYSE:ED) by 7.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,674 shares of the utilities provider’s stock after selling 5,151 shares during the quarter. Xponance Inc.’s holdings in Consolidated Edison were worth $6,199,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of ED. Mirae Asset Global Investments Co. Ltd. lifted its position in Consolidated Edison by 13.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,819 shares of the utilities provider’s stock valued at $7,320,000 after purchasing an additional 8,562 shares during the period. Bryce Point Capital LLC purchased a new position in shares of Consolidated Edison during the 3rd quarter worth approximately $556,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Consolidated Edison by 3.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,028,686 shares of the utilities provider’s stock worth $103,404,000 after buying an additional 29,606 shares in the last quarter. Nuance Investments LLC acquired a new stake in shares of Consolidated Edison in the 3rd quarter valued at approximately $4,017,000. Finally, Atlantic Union Bankshares Corp boosted its stake in shares of Consolidated Edison by 46.7% in the second quarter. Atlantic Union Bankshares Corp now owns 3,714 shares of the utilities provider’s stock valued at $373,000 after buying an additional 1,183 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Consolidated Edison

In related news, Director John F. Killian sold 2,276 shares of Consolidated Edison stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total transaction of $220,521.64. Following the completion of the transaction, the director directly owned 38,661 shares in the company, valued at $3,745,864.29. The trade was a 5.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Consolidated Edison in a report on Monday, December 29th. Mizuho set a $118.00 target price on shares of Consolidated Edison in a research report on Monday, February 23rd. JPMorgan Chase & Co. lowered their price target on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating on the stock in a research note on Friday, December 12th. Wells Fargo & Company cut their price target on shares of Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating for the company in a report on Tuesday, January 20th. Finally, Citigroup reiterated a “buy” rating on shares of Consolidated Edison in a research note on Monday, February 23rd. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $107.07.

Consolidated Edison Stock Up 1.6%

Consolidated Edison stock opened at $112.49 on Friday. Consolidated Edison Inc has a fifty-two week low of $94.96 and a fifty-two week high of $115.25. The firm has a market capitalization of $40.64 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 3.01 and a beta of 0.38. The stock’s fifty day moving average is $104.99 and its two-hundred day moving average is $101.14. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 1.02.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.03. The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.71 billion. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.The business’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.98 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Wednesday, February 18th will be issued a $0.8875 dividend. This represents a $3.55 annualized dividend and a dividend yield of 3.2%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Wednesday, February 18th. Consolidated Edison’s payout ratio is currently 62.83%.

About Consolidated Edison

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.