Nuance Investments LLC Has $4.89 Million Holdings in Consolidated Edison Inc $ED

Nuance Investments LLC increased its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 23.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 49,246 shares of the utilities provider’s stock after acquiring an additional 9,284 shares during the quarter. Nuance Investments LLC’s holdings in Consolidated Edison were worth $4,891,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. SlateStone Wealth LLC raised its stake in Consolidated Edison by 2.7% during the 4th quarter. SlateStone Wealth LLC now owns 19,933 shares of the utilities provider’s stock worth $1,980,000 after buying an additional 517 shares during the period. Prudential PLC raised its stake in Consolidated Edison by 58.2% during the 4th quarter. Prudential PLC now owns 74,703 shares of the utilities provider’s stock worth $7,420,000 after buying an additional 27,495 shares during the period. Vise Technologies Inc. raised its stake in Consolidated Edison by 110.5% during the 4th quarter. Vise Technologies Inc. now owns 20,491 shares of the utilities provider’s stock worth $2,035,000 after buying an additional 10,756 shares during the period. Magellan Asset Management Ltd raised its stake in Consolidated Edison by 6.1% during the 4th quarter. Magellan Asset Management Ltd now owns 313,902 shares of the utilities provider’s stock worth $31,177,000 after buying an additional 18,140 shares during the period. Finally, Continuum Advisory LLC raised its stake in Consolidated Edison by 12.9% during the 4th quarter. Continuum Advisory LLC now owns 7,734 shares of the utilities provider’s stock worth $768,000 after buying an additional 886 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Ratings Changes

ED has been the topic of several research analyst reports. TD Cowen raised their price objective on Consolidated Edison from $105.00 to $112.00 and gave the stock a “hold” rating in a research note on Tuesday, February 24th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $105.00 price objective on shares of Consolidated Edison in a research note on Thursday, May 14th. Wells Fargo & Company set a $98.00 price target on Consolidated Edison in a research note on Tuesday, April 21st. Scotiabank lifted their price target on Consolidated Edison from $113.00 to $117.00 and gave the company a “sector perform” rating in a research note on Friday, February 20th. Finally, Citigroup reissued a “buy” rating on shares of Consolidated Edison in a research note on Monday, February 23rd. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, Consolidated Edison presently has a consensus rating of “Reduce” and an average target price of $107.79.

Consolidated Edison Stock Performance

ED opened at $106.31 on Friday. The business’s 50-day moving average price is $109.20 and its two-hundred day moving average price is $106.24. Consolidated Edison Inc has a 1 year low of $94.96 and a 1 year high of $116.23. The company has a market capitalization of $39.18 billion, a price-to-earnings ratio of 17.90, a P/E/G ratio of 2.64 and a beta of 0.27. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.19 and a quick ratio of 1.09.

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

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th will be issued a $0.8875 dividend. The ex-dividend date is Wednesday, May 13th. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. Consolidated Edison’s dividend payout ratio (DPR) is presently 59.76%.

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 dated Thursday, March 12th. The stock was sold at an average price of $113.94, for a total value of $218,992.68. Following the completion of the transaction, the senior vice president owned 32,453 shares in the company, 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 at the SEC website. 0.15% of the stock is owned by insiders.

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.