Korea Investment CORP Has $27.37 Million Position in Consolidated Edison Inc $ED

Korea Investment CORP raised its stake in shares of Consolidated Edison Inc (NYSE:ED) by 25.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 272,297 shares of the utilities provider’s stock after acquiring an additional 54,777 shares during the quarter. Korea Investment CORP owned approximately 0.08% of Consolidated Edison worth $27,371,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ED. Mirae Asset Global Investments Co. Ltd. grew its stake in Consolidated Edison by 13.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,819 shares of the utilities provider’s stock worth $7,320,000 after buying an additional 8,562 shares during the last quarter. Bryce Point Capital LLC acquired a new stake in shares of Consolidated Edison during the third quarter worth approximately $556,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Consolidated Edison by 3.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,028,686 shares of the utilities provider’s stock valued at $103,404,000 after acquiring an additional 29,606 shares during the last quarter. Nuance Investments LLC acquired a new position in shares of Consolidated Edison in the 3rd quarter worth approximately $4,017,000. Finally, Caprock Group LLC acquired a new position in shares of Consolidated Edison in the 3rd quarter worth approximately $2,586,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Insider Transactions at Consolidated Edison

In other news, Director John F. Killian sold 2,276 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $96.89, for a total value of $220,521.64. Following the transaction, the director owned 38,661 shares of the company’s stock, valued at approximately $3,745,864.29. This trade represents a 5.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ED. UBS Group raised their price target on Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Scotiabank boosted their price objective on Consolidated Edison from $113.00 to $117.00 and gave the stock a “sector perform” rating in a research note on Friday, February 20th. TD Cowen increased their target price on Consolidated Edison from $105.00 to $112.00 and gave the stock a “hold” rating in a report on Tuesday, February 24th. KeyCorp raised their target price on Consolidated Edison from $86.00 to $96.00 and gave the company an “underweight” rating in a research note on Wednesday, March 4th. Finally, Wells Fargo & Company cut their price target on Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating for the company in a report on Tuesday, January 20th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $107.73.

Consolidated Edison Stock Down 0.3%

NYSE:ED opened at $111.89 on Tuesday. The company has a market cap of $40.42 billion, a price-to-earnings ratio of 19.80, a P/E/G ratio of 3.02 and a beta of 0.38. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 1.02. The stock’s fifty day moving average price is $106.53 and its two-hundred day moving average price is $101.57. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $115.25.

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

Consolidated Edison Increases Dividend

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

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.