KLP Kapitalforvaltning AS Lowers Holdings in Consolidated Edison Inc $ED

KLP Kapitalforvaltning AS trimmed its holdings in Consolidated Edison Inc (NYSE:ED) by 13.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 481,365 shares of the utilities provider’s stock after selling 72,200 shares during the period. KLP Kapitalforvaltning AS’s holdings in Consolidated Edison were worth $47,809,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Revolve Wealth Partners LLC increased its holdings in shares of Consolidated Edison by 13.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after purchasing an additional 441 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Consolidated Edison by 42.1% in the first quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock worth $993,000 after purchasing an additional 2,659 shares during the last quarter. Woodline Partners LP increased its holdings in shares of Consolidated Edison by 40.7% in the first quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock worth $3,237,000 after purchasing an additional 8,468 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Consolidated Edison in the second quarter worth about $3,256,000. Finally, Baird Financial Group Inc. increased its holdings in shares of Consolidated Edison by 2.1% in the second quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider’s stock worth $1,473,000 after purchasing an additional 296 shares during the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Trading Down 1.3%

Shares of NYSE ED opened at $108.24 on Wednesday. The business’s 50 day moving average is $112.15 and its two-hundred day moving average is $104.68. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.02 and a quick ratio of 0.94. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.23. The stock has a market capitalization of $39.88 billion, a P/E ratio of 19.16, a PEG ratio of 2.79 and a beta of 0.34.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data 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 $4 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same period in the previous year, the firm posted $0.98 earnings per share. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, research analysts expect that Consolidated Edison Inc will post 6.07 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders 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 yield of 3.3%. The ex-dividend date of this dividend is Wednesday, May 13th. Consolidated Edison’s payout ratio is presently 62.83%.

Insiders Place Their Bets

In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $113.94, for a total transaction of $218,992.68. Following the sale, the senior vice president directly 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 legal filing with the SEC, which is available through this link. 0.17% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ED shares. UBS Group lifted their target price on Consolidated Edison from $108.00 to $112.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. lifted their target price on Consolidated Edison from $107.00 to $113.00 and gave the stock an “underweight” rating in a report on Thursday, March 12th. Wells Fargo & Company set a $98.00 target price on Consolidated Edison in a report on Tuesday. Citigroup reaffirmed a “buy” rating on shares of Consolidated Edison in a report on Monday, February 23rd. Finally, Scotiabank lifted their target price on Consolidated Edison from $113.00 to $117.00 and gave the stock a “sector perform” rating in a report on Friday, February 20th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $108.50.

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.