Legal & General Group Plc Grows Stock Holdings in Consolidated Edison Inc $ED

Legal & General Group Plc lifted its holdings in Consolidated Edison Inc (NYSE:ED) by 1.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 4,351,530 shares of the utilities provider’s stock after acquiring an additional 52,061 shares during the quarter. Legal & General Group Plc’s holdings in Consolidated Edison were worth $437,416,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $118.00 price objective on shares of Consolidated Edison in a research note on Friday, January 23rd. Morgan Stanley restated an “underweight” rating and set a $102.00 price target on shares of Consolidated Edison in a report on Friday, February 20th. UBS Group upped their price target on Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Mizuho set a $118.00 price target on Consolidated Edison in a research note on Monday, February 23rd. Finally, Barclays lifted their price target 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 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 company. According to data from MarketBeat, Consolidated Edison currently has a consensus rating of “Reduce” and an average target price of $107.73.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $111.30 on Wednesday. The company has a 50 day simple moving average of $106.76 and a two-hundred day simple moving average of $101.64. 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 market capitalization of $40.21 billion, a price-to-earnings ratio of 19.70, a P/E/G ratio of 3.00 and a beta of 0.38. 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 quarterly earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.03. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the prior year, the business posted $0.98 EPS. The firm’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. Analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

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

Insider Transactions at Consolidated Edison

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of Consolidated Edison stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $96.89, for a total value of $220,521.64. Following the completion of the transaction, the director directly owned 38,661 shares of the company’s stock, valued at approximately $3,745,864.29. The trade was a 5.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is currently owned by insiders.

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.