Bank of Nova Scotia Has $50.08 Million Stock Position in Consolidated Edison Inc $ED

Bank of Nova Scotia increased its stake in Consolidated Edison Inc (NYSE:ED) by 569.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 498,215 shares of the utilities provider’s stock after purchasing an additional 423,814 shares during the period. Bank of Nova Scotia owned approximately 0.14% of Consolidated Edison worth $50,081,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ED. Salomon & Ludwin LLC increased its holdings in Consolidated Edison by 270.4% in the 3rd quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock valued at $30,000 after buying an additional 219 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Consolidated Edison during the 3rd quarter worth approximately $38,000. JFS Wealth Advisors LLC boosted 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 worth $41,000 after acquiring an additional 110 shares in the last quarter. True Wealth Design LLC boosted its position 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 worth $50,000 after acquiring an additional 396 shares in the last quarter. Finally, Webster Bank N. A. increased its stake in Consolidated Edison by 67.8% in the third 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 last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Insider Transactions at Consolidated Edison

In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $113.94, for a total value of $218,992.68. Following the completion of the transaction, the senior vice president directly owned 32,453 shares in the company, valued at approximately $3,697,694.82. This trade represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is currently owned by insiders.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $114.85 on Monday. The company’s 50 day moving average price is $107.57 and its two-hundred day moving average price is $101.92. The firm has a market capitalization of $41.49 billion, a P/E ratio of 20.33, a P/E/G ratio of 3.08 and a beta of 0.38. Consolidated Edison Inc has a fifty-two week low of $94.96 and a fifty-two week high of $115.37. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.02 and a quick ratio of 0.94.

Consolidated Edison (NYSE:ED) last announced 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. Consolidated Edison had a net margin of 11.95% and a return on equity of 8.50%. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the prior year, the business earned $0.98 earnings per share. The company’s revenue for the quarter 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, equities analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend 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%.

Analysts Set New Price Targets

Several brokerages have commented on ED. TD Cowen boosted their price objective on shares of Consolidated Edison from $105.00 to $112.00 and gave the company a “hold” rating in a research report on Tuesday, February 24th. Barclays raised their target price on Consolidated Edison from $100.00 to $110.00 and gave the company an “underweight” rating in a report on Tuesday, February 24th. UBS Group boosted their price target on Consolidated Edison from $108.00 to $112.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Citigroup restated a “buy” rating on shares of Consolidated Edison in a research report on Monday, February 23rd. Finally, KeyCorp raised their price objective on Consolidated Edison from $86.00 to $96.00 and gave the company an “underweight” rating in a research note on Wednesday, March 4th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $108.80.

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.