First Trust Advisors LP Boosts Stake in Consolidated Edison Inc $ED

First Trust Advisors LP increased its stake in Consolidated Edison Inc (NYSE:ED) by 9.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,116,489 shares of the utilities provider’s stock after purchasing an additional 96,392 shares during the quarter. First Trust Advisors LP owned approximately 0.31% of Consolidated Edison worth $112,229,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Salomon & Ludwin LLC increased its position in Consolidated Edison by 270.4% in the third quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock worth $30,000 after buying an additional 219 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Consolidated Edison during the 3rd quarter valued at about $38,000. JFS Wealth Advisors LLC lifted its position 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 valued at $41,000 after buying an additional 110 shares in the last quarter. Webster Bank N. A. grew its stake in shares of Consolidated Edison by 67.8% during the 3rd quarter. Webster Bank N. A. now owns 495 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 200 shares during the period. Finally, True Wealth Design LLC grew its stake in shares of Consolidated Edison by 392.1% during the 3rd quarter. True Wealth Design LLC now owns 497 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 396 shares during the period. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Consolidated Edison

In related news, Director John F. Killian sold 2,276 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total value of $220,521.64. Following the completion of the sale, the director directly owned 38,661 shares in the company, valued at $3,745,864.29. This trade represents a 5.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on ED shares. TD Cowen raised their target price on shares of Consolidated Edison from $105.00 to $112.00 and gave the stock a “hold” rating in a research note on Tuesday, February 24th. KeyCorp upped their price target on shares of Consolidated Edison from $86.00 to $96.00 and gave the stock an “underweight” rating in a research report on Wednesday, March 4th. Wells Fargo & Company decreased their price objective on shares of Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 20th. Barclays lifted their target price on shares of Consolidated Edison from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Tuesday, February 24th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $102.00 target price on shares of Consolidated Edison in a report on Friday, February 20th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $107.73.

Consolidated Edison Stock Up 1.6%

Shares of NYSE:ED opened at $112.43 on Monday. The company has a market cap of $40.62 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 3.02 and a beta of 0.38. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $115.25. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. The company has a 50-day moving average price of $106.28 and a 200 day moving average price of $101.50.

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

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Wednesday, February 18th will be issued a dividend of $0.8875 per share. This represents a $3.55 annualized dividend 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 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.