Kettle Hill Capital Management LLC Cuts Stock Holdings in Consolidated Edison Inc $ED

Kettle Hill Capital Management LLC lessened its holdings in Consolidated Edison Inc (NYSE:ED) by 57.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 61,036 shares of the utilities provider’s stock after selling 82,078 shares during the quarter. Consolidated Edison makes up about 1.4% of Kettle Hill Capital Management LLC’s holdings, making the stock its 28th largest holding. Kettle Hill Capital Management LLC’s holdings in Consolidated Edison were worth $6,135,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Lazard Asset Management LLC increased its holdings in Consolidated Edison by 121,543.9% during the third quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock valued at $599,155,000 after buying an additional 5,955,653 shares during the period. Norges Bank purchased a new stake in Consolidated Edison during the second quarter worth $462,218,000. Vanguard Group Inc. lifted its holdings in Consolidated Edison by 4.5% during the second quarter. Vanguard Group Inc. now owns 45,040,811 shares of the utilities provider’s stock worth $4,519,845,000 after buying an additional 1,923,717 shares during the period. AQR Capital Management LLC boosted its position in Consolidated Edison by 104.6% during the 3rd quarter. AQR Capital Management LLC now owns 1,905,678 shares of the utilities provider’s stock valued at $190,530,000 after acquiring an additional 974,419 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its position in Consolidated Edison by 2,190.9% during the 2nd quarter. Qube Research & Technologies Ltd now owns 978,160 shares of the utilities provider’s stock valued at $98,158,000 after acquiring an additional 935,463 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on ED shares. Royal Bank Of Canada reissued a “sector perform” rating and issued a $118.00 price target on shares of Consolidated Edison in a research report on Friday, January 23rd. Morgan Stanley reaffirmed an “underweight” rating and set a $102.00 price objective on shares of Consolidated Edison in a research report on Friday, February 20th. Mizuho set a $118.00 target price on Consolidated Edison in a research note on Monday, February 23rd. Wells Fargo & Company reduced 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 report on Tuesday, January 20th. Finally, TD Cowen increased their price target on shares of Consolidated Edison from $105.00 to $112.00 and gave the company a “hold” rating in a research report on Tuesday, February 24th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $108.80.

Insider Activity

In other news, SVP Deneen L. Donnley sold 1,922 shares of the company’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 transaction, the senior vice president owned 32,453 shares in the company, valued at $3,697,694.82. This represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.17% of the stock is currently owned by company insiders.

Consolidated Edison Stock Performance

Shares of ED stock opened at $114.85 on Monday. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $115.37. The business’s fifty day simple moving average is $107.57 and its 200-day simple moving average is $101.92. 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 company has a market cap of $41.49 billion, a PE ratio of 20.33, a PEG ratio of 3.08 and a beta of 0.38.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, February 19th. The utilities provider reported $0.89 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter last year, the firm earned $0.98 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Analysts expect that Consolidated Edison Inc will post 5.62 earnings per share 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. Stockholders of record on Wednesday, February 18th will be paid a dividend of $0.8875 per share. The ex-dividend date is Wednesday, February 18th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.85. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.1%. Consolidated Edison’s payout ratio is presently 62.83%.

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.