American Century Companies Inc. Boosts Stake in Consolidated Edison Inc $ED

American Century Companies Inc. grew its position in shares of Consolidated Edison Inc (NYSE:ED) by 55.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 259,650 shares of the utilities provider’s stock after acquiring an additional 92,142 shares during the quarter. American Century Companies Inc. owned about 0.07% of Consolidated Edison worth $26,100,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its position 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 valued at $7,320,000 after buying an additional 8,562 shares in the last quarter. Bryce Point Capital LLC acquired a new stake in shares of Consolidated Edison in the third quarter worth $556,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Consolidated Edison by 3.0% in the 3rd 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 period. Nuance Investments LLC acquired a new position in shares of Consolidated Edison during the 3rd quarter valued at $4,017,000. Finally, Atlantic Union Bankshares Corp lifted its holdings in shares of Consolidated Edison by 46.7% during the 2nd quarter. Atlantic Union Bankshares Corp now owns 3,714 shares of the utilities provider’s stock valued at $373,000 after acquiring an additional 1,183 shares in the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ED. KeyCorp increased their price target on Consolidated Edison from $86.00 to $96.00 and gave the company an “underweight” rating in a report on Wednesday, March 4th. Citigroup reaffirmed a “buy” rating on shares of Consolidated Edison in a research report on Monday, February 23rd. Mizuho set a $118.00 target price on Consolidated Edison in a research note on Monday, February 23rd. Wells Fargo & Company dropped their target price on Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 20th. Finally, UBS Group boosted their price target on Consolidated Edison from $108.00 to $112.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $107.73.

Consolidated Edison Stock Performance

NYSE:ED opened at $112.43 on Monday. The firm has a 50-day moving average of $106.28 and a two-hundred day moving average of $101.50. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.02 and a quick ratio of 0.94. The stock has a market cap of $40.62 billion, a P/E ratio of 19.90, a PEG ratio of 3.02 and a beta of 0.38. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $115.25.

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

Consolidated Edison Increases Dividend

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

Insider Activity

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were 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 of the company’s stock, valued at $3,745,864.29. The trade was a 5.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.17% of the company’s stock.

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.