Te Ahumairangi Investment Management Ltd Acquires 13,223 Shares of Consolidated Edison Inc $ED

Te Ahumairangi Investment Management Ltd lifted its holdings in Consolidated Edison Inc (NYSE:ED) by 19.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 79,983 shares of the utilities provider’s stock after acquiring an additional 13,223 shares during the period. Consolidated Edison makes up approximately 1.4% of Te Ahumairangi Investment Management Ltd’s investment portfolio, making the stock its 20th largest position. Te Ahumairangi Investment Management Ltd’s holdings in Consolidated Edison were worth $8,040,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Revolve Wealth Partners LLC increased its holdings in shares of Consolidated Edison by 13.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after purchasing an additional 441 shares during the period. Empowered Funds LLC boosted its stake in shares of Consolidated Edison by 42.1% in the first quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock valued at $993,000 after buying an additional 2,659 shares during the period. Woodline Partners LP boosted its stake in shares of Consolidated Edison by 40.7% in the first quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock valued at $3,237,000 after buying an additional 8,468 shares during the period. Savant Capital LLC grew its position in Consolidated Edison by 18.9% during the second quarter. Savant Capital LLC now owns 12,493 shares of the utilities provider’s stock worth $1,254,000 after buying an additional 1,990 shares in the last quarter. Finally, AE Wealth Management LLC grew its position in Consolidated Edison by 38.1% during the second quarter. AE Wealth Management LLC now owns 9,297 shares of the utilities provider’s stock worth $933,000 after buying an additional 2,567 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

ED has been the topic of a number of recent research reports. Bank of America restated an “underperform” rating and set a $104.00 price objective on shares of Consolidated Edison in a research note on Wednesday, February 25th. Barclays upped their target price on Consolidated Edison from $100.00 to $110.00 and gave the company an “underweight” rating in a research report on Tuesday, February 24th. Royal Bank Of Canada restated a “sector perform” rating and issued a $118.00 price target on shares of Consolidated Edison in a research report on Friday, January 23rd. KeyCorp boosted their price target on Consolidated Edison from $86.00 to $96.00 and gave the company an “underweight” rating in a research note on Wednesday, March 4th. Finally, Citigroup reaffirmed a “buy” rating on shares of Consolidated Edison in a research report on Monday, February 23rd. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $108.80.

Consolidated Edison Price Performance

ED traded up $1.48 during trading on Friday, hitting $114.61. 259,038 shares of the stock traded hands, compared to its average volume of 2,225,959. The business has a 50 day moving average price of $107.28 and a 200 day moving average price of $101.79. 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 Inc has a twelve month low of $94.96 and a twelve month high of $115.25. The company has a market cap of $41.40 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 3.00 and a beta of 0.38.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.03. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter last year, the business posted $0.98 EPS. The company’s 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. Equities research analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Wednesday, February 18th will be given a $0.8875 dividend. This is a boost 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%. The ex-dividend date is Wednesday, February 18th. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.83%.

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.