Danske Bank A S Purchases Shares of 469,391 Consolidated Edison Inc $ED

Danske Bank A S acquired a new position in Consolidated Edison Inc (NYSE:ED) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 469,391 shares of the utilities provider’s stock, valued at approximately $47,183,000. Danske Bank A S owned about 0.13% of Consolidated Edison as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Revolve Wealth Partners LLC raised its position in Consolidated Edison by 13.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after buying an additional 441 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Consolidated Edison by 42.1% in the 1st quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock valued at $993,000 after acquiring an additional 2,659 shares during the last quarter. Woodline Partners LP boosted its holdings in shares of Consolidated Edison by 40.7% in the 1st quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock valued at $3,237,000 after acquiring an additional 8,468 shares during the last quarter. Creative Planning increased its stake in shares of Consolidated Edison by 12.2% in the second quarter. Creative Planning now owns 121,394 shares of the utilities provider’s stock worth $12,182,000 after acquiring an additional 13,174 shares during the period. Finally, Cetera Investment Advisers increased its stake in shares of Consolidated Edison by 3.7% in the second quarter. Cetera Investment Advisers now owns 97,050 shares of the utilities provider’s stock worth $9,739,000 after acquiring an additional 3,494 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Down 1.2%

Consolidated Edison stock opened at $113.50 on Thursday. 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 capitalization of $41.00 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 2.93 and a beta of 0.38. The business has a 50 day simple moving average of $108.50 and a 200-day simple moving average of $102.24. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $116.23.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.03. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.71 billion. Consolidated Edison had a net margin of 11.95% and a return on equity of 8.50%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 EPS. 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 fiscal year.

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Wednesday, February 18th were given a $0.8875 dividend. This represents a $3.55 annualized dividend and a dividend yield of 3.1%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.85. The ex-dividend date was Wednesday, February 18th. Consolidated Edison’s dividend payout ratio (DPR) is 62.83%.

Insider Activity at Consolidated Edison

In other news, SVP Deneen L. Donnley sold 1,922 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $113.94, for a total transaction of $218,992.68. Following the completion of the sale, the senior vice president owned 32,453 shares of the company’s stock, valued at $3,697,694.82. The trade was a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ED has been the subject of a number of research reports. KeyCorp boosted their target price on shares of Consolidated Edison from $86.00 to $96.00 and gave the company an “underweight” rating in a research report on Wednesday, March 4th. UBS Group lifted their price objective on Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. Morgan Stanley reiterated an “underweight” rating and set a $102.00 price objective on shares of Consolidated Edison in a research note on Friday, February 20th. Weiss Ratings reissued a “buy (b-)” rating on shares of Consolidated Edison in a report on Monday, December 29th. Finally, 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. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, Consolidated Edison has an average rating of “Reduce” and an average price target of $108.80.

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.