Bank of Montreal Can Has $59.72 Million Position in Consolidated Edison Inc $ED

Bank of Montreal Can increased its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 1.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 594,109 shares of the utilities provider’s stock after purchasing an additional 11,336 shares during the period. Bank of Montreal Can owned approximately 0.16% of Consolidated Edison worth $59,720,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Legal & General Group Plc boosted its holdings in shares of Consolidated Edison by 1.2% in the third quarter. Legal & General Group Plc now owns 4,351,530 shares of the utilities provider’s stock valued at $437,416,000 after buying an additional 52,061 shares during the period. LGT Fund Management Co Ltd. acquired a new position in Consolidated Edison in the 3rd quarter worth $491,000. Russell Investments Group Ltd. boosted its stake in Consolidated Edison by 26.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 610,599 shares of the utilities provider’s stock worth $61,350,000 after purchasing an additional 126,304 shares during the period. Private Advisor Group LLC increased its holdings in Consolidated Edison by 3.7% during the 3rd quarter. Private Advisor Group LLC now owns 48,992 shares of the utilities provider’s stock worth $4,925,000 after purchasing an additional 1,747 shares in the last quarter. Finally, Vinva Investment Management Ltd raised its stake in shares of Consolidated Edison by 219.0% in the 3rd quarter. Vinva Investment Management Ltd now owns 44,077 shares of the utilities provider’s stock valued at $4,389,000 after purchasing an additional 30,258 shares during the period. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Price Performance

NYSE:ED opened at $112.95 on Friday. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year 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 firm has a fifty day simple moving average of $107.28 and a 200 day simple moving average of $101.79. The stock has a market capitalization of $40.80 billion, a PE ratio of 19.99, a P/E/G ratio of 3.00 and a beta of 0.38.

Consolidated Edison (NYSE:ED) last posted 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 firm had revenue of $4 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period in the prior year, the firm posted $0.98 earnings per share. The company’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 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The firm 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. The ex-dividend date is Wednesday, February 18th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.85. This represents a $3.55 dividend on an annualized basis and a yield of 3.1%. Consolidated Edison’s dividend payout ratio is 62.83%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Royal Bank Of Canada restated a “sector perform” rating and issued a $118.00 price target on shares of Consolidated Edison in a report on Friday, January 23rd. KeyCorp lifted their target price on Consolidated Edison from $86.00 to $96.00 and gave the company an “underweight” rating in a research report on Wednesday, March 4th. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a research note on Monday, December 29th. Morgan Stanley reaffirmed an “underweight” rating and set a $102.00 price target on shares of Consolidated Edison in a research report on Friday, February 20th. Finally, Barclays lifted their price objective on shares of Consolidated Edison from $100.00 to $110.00 and gave the company an “underweight” rating in a report on Tuesday, February 24th. 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 company. According to data from MarketBeat.com, Consolidated Edison presently has a consensus 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.