Norges Bank Buys Shares of 4,931,590 Consolidated Edison Inc $ED

Norges Bank purchased a new stake in Consolidated Edison Inc (NYSE:ED) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,931,590 shares of the utilities provider’s stock, valued at approximately $489,806,000.

A number of other institutional investors and hedge funds also recently modified their holdings of ED. Revolve Wealth Partners LLC increased its stake in shares of Consolidated Edison by 13.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock valued at $332,000 after acquiring an additional 441 shares during the last quarter. Empowered Funds LLC increased its position in shares of Consolidated Edison by 42.1% in the 1st 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 in the last quarter. Woodline Partners LP increased its position in shares of Consolidated Edison by 40.7% in the 1st 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 in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Consolidated Edison in the 2nd quarter valued at $3,256,000. Finally, Baird Financial Group Inc. increased its position in shares of Consolidated Edison by 2.1% in the 2nd quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider’s stock valued at $1,473,000 after buying an additional 296 shares in the last quarter. 66.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Mizuho set a $118.00 price objective on shares of Consolidated Edison in a research report on Monday, February 23rd. TD Cowen upped their price objective 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. Wells Fargo & Company set a $98.00 price objective on shares of Consolidated Edison in a research report on Tuesday, April 21st. Morgan Stanley set a $99.00 price objective on shares of Consolidated Edison in a research report on Thursday, May 21st. Finally, Evercore set a $116.00 target price on Consolidated Edison in a research note on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $108.71.

Insider Buying and Selling at Consolidated Edison

In other news, SVP Deneen L. Donnley sold 1,922 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $113.94, for a total transaction of $218,992.68. Following the completion of the transaction, the senior vice president directly owned 32,453 shares of the company’s stock, valued at $3,697,694.82. This trade represents a 5.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is owned by corporate insiders.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $105.88 on Monday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.19 and a quick ratio of 1.09. The firm has a market cap of $39.02 billion, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 2.68 and a beta of 0.27. The stock’s 50-day moving average is $109.77 and its 200-day moving average is $106.15. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, May 7th. The utilities provider reported $2.18 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($0.10). The firm had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.22 billion. Consolidated Edison had a return on equity of 8.33% and a net margin of 12.52%.During the same period in the prior year, the company earned $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities analysts predict that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th will be paid a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, May 13th. Consolidated Edison’s dividend payout ratio (DPR) is currently 59.76%.

About Consolidated Edison

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.