Prudential PLC Purchases 27,495 Shares of Consolidated Edison Inc $ED

Prudential PLC raised its position in shares of Consolidated Edison Inc (NYSE:ED) by 58.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 74,703 shares of the utilities provider’s stock after purchasing an additional 27,495 shares during the quarter. Prudential PLC’s holdings in Consolidated Edison were worth $7,420,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ED. Lazard Asset Management LLC grew its stake in shares of Consolidated Edison by 121,543.9% in the third quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock worth $599,155,000 after acquiring an additional 5,955,653 shares during the period. Norges Bank bought a new stake in shares of Consolidated Edison in the fourth quarter worth approximately $489,806,000. PFA Pension Forsikringsaktieselskab bought a new stake in shares of Consolidated Edison in the fourth quarter worth approximately $113,977,000. AQR Capital Management LLC grew its stake in shares of Consolidated Edison by 104.6% in the third quarter. AQR Capital Management LLC now owns 1,905,678 shares of the utilities provider’s stock worth $190,530,000 after acquiring an additional 974,419 shares during the period. Finally, Qube Research & Technologies Ltd grew its stake in shares of Consolidated Edison by 94.7% in the third quarter. Qube Research & Technologies Ltd now owns 1,904,876 shares of the utilities provider’s stock worth $191,478,000 after acquiring an additional 926,716 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Performance

Shares of NYSE ED opened at $106.31 on Friday. The firm has a 50 day moving average of $109.20 and a 200 day moving average of $106.24. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $39.18 billion, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 2.70 and a beta of 0.27. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $116.23.

Consolidated Edison (NYSE:ED) last announced its 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). The business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.22 billion. Consolidated Edison had a net margin of 12.52% and a return on equity of 8.33%. During the same quarter last year, the firm posted $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, research analysts anticipate that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Wednesday, May 13th will be given a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a yield of 3.3%. The ex-dividend date is Wednesday, May 13th. Consolidated Edison’s payout ratio is 59.76%.

Insider Transactions at Consolidated Edison

In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of Consolidated Edison 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 transaction, the senior vice president owned 32,453 shares of the company’s stock, valued at $3,697,694.82. The trade was a 5.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ED shares. Weiss Ratings upgraded shares of Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. TD Cowen lifted their price target on shares of Consolidated Edison from $105.00 to $112.00 and gave the stock a “hold” rating in a research note on Tuesday, February 24th. Evercore set a $116.00 price target on shares of Consolidated Edison in a research note on Monday, May 11th. Morgan Stanley set a $99.00 price target on shares of Consolidated Edison in a research note on Thursday, May 21st. Finally, KeyCorp lifted their price target on shares of Consolidated Edison from $96.00 to $97.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Consolidated Edison currently has a consensus rating of “Reduce” and an average price target of $107.79.

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.