Consolidated Edison Inc $ED Shares Acquired by Panagora Asset Management Inc.

Panagora Asset Management Inc. lifted its position in shares of Consolidated Edison Inc (NYSE:ED) by 54.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,202,305 shares of the utilities provider’s stock after buying an additional 424,932 shares during the quarter. Panagora Asset Management Inc.’s holdings in Consolidated Edison were worth $119,413,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. GW&K Investment Management LLC raised its stake in shares of Consolidated Edison by 28.5% during the 4th quarter. GW&K Investment Management LLC now owns 419 shares of the utilities provider’s stock worth $42,000 after buying an additional 93 shares during the last quarter. Meadowbrook Wealth Management LLC raised its stake in shares of Consolidated Edison by 2.2% during the 4th quarter. Meadowbrook Wealth Management LLC now owns 4,687 shares of the utilities provider’s stock worth $466,000 after buying an additional 100 shares during the last quarter. bLong Financial LLC raised its stake in shares of Consolidated Edison by 1.3% during the 4th quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider’s stock worth $772,000 after buying an additional 100 shares during the last quarter. Bridgewater Advisors Inc. raised its stake in shares of Consolidated Edison by 1.6% during the 4th quarter. Bridgewater Advisors Inc. now owns 6,635 shares of the utilities provider’s stock worth $689,000 after buying an additional 105 shares during the last quarter. Finally, JFS Wealth Advisors LLC raised its stake in shares of Consolidated Edison by 36.4% during the 3rd quarter. JFS Wealth Advisors LLC now owns 412 shares of the utilities provider’s stock worth $41,000 after buying an additional 110 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Trading Down 0.0%

Shares of ED stock opened at $107.71 on Monday. The firm has a 50-day moving average price of $108.59 and a 200 day moving average price of $106.47. 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 price-to-earnings ratio of 18.13, a PEG ratio of 2.74 and a beta of 0.27. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00.

Consolidated Edison (NYSE:ED) last announced 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 firm had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same period in the previous year, the firm posted $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Research analysts forecast 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 will be paid on Monday, June 15th. Investors of record on Wednesday, May 13th will be paid a $0.8875 dividend. The ex-dividend date of this dividend is 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%.

Analysts Set New Price Targets

ED has been the subject of several research reports. The Goldman Sachs Group reaffirmed a “sell” rating and set a $105.00 price target on shares of Consolidated Edison in a research note on Thursday, May 14th. Wells Fargo & Company set a $98.00 price target on Consolidated Edison in a research note on Tuesday, April 21st. Evercore set a $116.00 price target on Consolidated Edison in a research note on Monday, May 11th. JPMorgan Chase & Co. lifted their price target on Consolidated Edison from $107.00 to $113.00 and gave the stock an “underweight” rating in a research note on Thursday, March 12th. Finally, Citigroup reissued a “buy” rating on shares of Consolidated Edison in a research note on Monday, February 23rd. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $107.79.

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.