Consolidated Edison Inc $ED Shares Acquired by Bleakley Financial Group LLC

Bleakley Financial Group LLC lifted its holdings in Consolidated Edison Inc (NYSE:ED) by 44.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,126 shares of the utilities provider’s stock after purchasing an additional 6,527 shares during the quarter. Bleakley Financial Group LLC’s holdings in Consolidated Edison were worth $2,124,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Consolidated Edison by 0.3% during the third quarter. Vanguard Group Inc. now owns 45,174,933 shares of the utilities provider’s stock valued at $4,540,984,000 after acquiring an additional 134,122 shares in the last quarter. Geode Capital Management LLC grew its position in Consolidated Edison by 6.1% during the 2nd quarter. Geode Capital Management LLC now owns 9,796,782 shares of the utilities provider’s stock worth $979,204,000 after purchasing an additional 566,358 shares during the last quarter. Norges Bank acquired a new position in Consolidated Edison during the 2nd quarter valued at approximately $462,218,000. ATLAS Infrastructure Partners UK Ltd. raised its holdings in shares of Consolidated Edison by 4.8% in the second quarter. ATLAS Infrastructure Partners UK Ltd. now owns 2,409,288 shares of the utilities provider’s stock worth $241,772,000 after buying an additional 110,666 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Consolidated Edison by 4.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,376,237 shares of the utilities provider’s stock worth $238,455,000 after buying an additional 104,643 shares during the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Consolidated Edison

In other news, Director John F. Killian sold 2,276 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total transaction of $220,521.64. Following the transaction, the director owned 38,661 shares in the company, valued at $3,745,864.29. This trade represents a 5.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.17% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ED has been the topic of several research reports. Royal Bank Of Canada reissued a “sector perform” rating and issued a $118.00 target price on shares of Consolidated Edison in a research report on Friday, January 23rd. Wells Fargo & Company reduced their price objective on Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 20th. Citigroup reiterated a “buy” rating on shares of Consolidated Edison in a research report on Monday. Mizuho set a $118.00 price objective on shares of Consolidated Edison in a research note on Monday. Finally, JPMorgan Chase & Co. cut their price objective on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating on the stock in a research note on Friday, December 12th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat, Consolidated Edison presently has a consensus rating of “Reduce” and a consensus target price of $105.73.

Consolidated Edison Stock Up 2.0%

ED opened at $112.01 on Tuesday. The company has a fifty day moving average of $104.03 and a two-hundred day moving average of $100.91. The stock has a market capitalization of $40.46 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 2.98 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 $115.25. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 1.02.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, February 19th. The utilities provider reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.03. The firm 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 company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the firm earned $0.98 EPS. 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 year.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Wednesday, February 18th will be paid a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, February 18th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.85. Consolidated Edison’s dividend payout ratio is currently 62.83%.

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.