Consolidated Edison Inc $ED Shares Acquired by Lansforsakringar Fondforvaltning AB publ

Lansforsakringar Fondforvaltning AB publ grew its holdings in Consolidated Edison Inc (NYSE:ED) by 25.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 155,717 shares of the utilities provider’s stock after acquiring an additional 31,660 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Consolidated Edison were worth $17,624,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Next Level Private LLC acquired a new stake in shares of Consolidated Edison during the 1st quarter worth about $224,000. Apollon Wealth Management LLC increased its stake in Consolidated Edison by 12.2% in the first quarter. Apollon Wealth Management LLC now owns 10,294 shares of the utilities provider’s stock valued at $1,165,000 after purchasing an additional 1,119 shares during the last quarter. Riverbend Wealth Management LLC raised its holdings in Consolidated Edison by 8.9% during the first quarter. Riverbend Wealth Management LLC now owns 2,790 shares of the utilities provider’s stock worth $316,000 after purchasing an additional 229 shares in the last quarter. Red Door Wealth Management LLC acquired a new stake in Consolidated Edison during the first quarter worth approximately $238,000. Finally, Patriot Financial Group Insurance Agency LLC lifted its position in shares of Consolidated Edison by 102.0% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 7,710 shares of the utilities provider’s stock worth $873,000 after buying an additional 3,894 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ED shares. JPMorgan Chase & Co. upped their target price on shares of Consolidated Edison from $107.00 to $113.00 and gave the company an “underweight” rating in a report on Thursday, March 12th. Morgan Stanley reaffirmed an “underweight” rating on shares of Consolidated Edison in a report on Wednesday, June 24th. Wells Fargo & Company set a $98.00 target price on Consolidated Edison in a research report on Tuesday, April 21st. Argus set a $112.00 target price on Consolidated Edison in a report on Tuesday, June 23rd. Finally, KeyCorp upped their target price on Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a research report on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat.com, Consolidated Edison has an average rating of “Reduce” and a consensus target price of $108.07.

Consolidated Edison Stock Performance

Shares of ED stock opened at $110.73 on Wednesday. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $116.23. 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 capitalization of $40.81 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 2.85 and a beta of 0.27. The business has a 50 day simple moving average of $107.62 and a 200 day simple moving average of $107.44.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, May 7th. The utilities provider reported $2.18 earnings per share for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.10). The company had revenue of $5.09 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 in the prior year, the firm earned $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, equities research analysts anticipate that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Wednesday, May 13th were paid a dividend of $0.8875 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $3.55 annualized dividend and a yield of 3.2%. 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.