Magellan Asset Management Ltd Has $29.73 Million Stock Position in Consolidated Edison Inc $ED

Magellan Asset Management Ltd lifted its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 7.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 295,762 shares of the utilities provider’s stock after purchasing an additional 20,558 shares during the period. Magellan Asset Management Ltd owned 0.08% of Consolidated Edison worth $29,730,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Consolidated Edison during the 2nd quarter worth $462,218,000. Vanguard Group Inc. grew its position in shares of Consolidated Edison by 4.5% in the 2nd quarter. Vanguard Group Inc. now owns 45,040,811 shares of the utilities provider’s stock valued at $4,519,845,000 after buying an additional 1,923,717 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Consolidated Edison by 2,190.9% in the second quarter. Qube Research & Technologies Ltd now owns 978,160 shares of the utilities provider’s stock valued at $98,158,000 after buying an additional 935,463 shares during the period. Rakuten Investment Management Inc. bought a new position in shares of Consolidated Edison during the third quarter worth about $60,497,000. Finally, Geode Capital Management LLC lifted its stake in shares of Consolidated Edison by 6.1% in the second quarter. Geode Capital Management LLC now owns 9,796,782 shares of the utilities provider’s stock worth $979,204,000 after acquiring an additional 566,358 shares during the period. Institutional investors own 66.29% of the company’s stock.

Insider Transactions at Consolidated Edison

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of the firm’s stock in a transaction that occurred 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 owned 38,661 shares of the company’s stock, valued at approximately $3,745,864.29. This trade represents a 5.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

Consolidated Edison Stock Down 1.0%

Shares of NYSE ED opened at $111.02 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 1.06. The firm has a market cap of $40.11 billion, a PE ratio of 19.65, a P/E/G ratio of 3.04 and a beta of 0.38. The company’s fifty day simple moving average is $104.27 and its 200 day simple moving average is $100.96. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $115.25.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.03. The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.71 billion. Consolidated Edison had a net margin of 11.95% and a return on equity of 8.50%. The business’s revenue was up 8.9% compared to the same quarter last year. 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, sell-side 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 declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Wednesday, February 18th will be paid a dividend of $0.8875 per share. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $3.55 dividend on an annualized basis and a yield of 3.2%. Consolidated Edison’s dividend payout ratio (DPR) is currently 62.83%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ED shares. Citigroup reissued a “buy” rating on shares of Consolidated Edison in a research report on Monday. KeyCorp decreased their price objective on shares of Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating for the company in a research report on Friday, December 12th. Wells Fargo & Company lowered their target price on shares of 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. Barclays upped their price target on shares of Consolidated Edison from $100.00 to $110.00 and gave the company an “underweight” rating in a research report on Tuesday. Finally, Mizuho set a $118.00 price target on Consolidated Edison in a report on Monday. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $106.87.

Consolidated Edison 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.