Assenagon Asset Management S.A. Sells 747,714 Shares of Consolidated Edison Inc $ED

Assenagon Asset Management S.A. lowered its position in Consolidated Edison Inc (NYSE:ED) by 83.8% during the first quarter, Holdings Channel reports. The firm owned 144,181 shares of the utilities provider’s stock after selling 747,714 shares during the period. Assenagon Asset Management S.A.’s holdings in Consolidated Edison were worth $16,318,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. GW&K Investment Management LLC increased its position in shares of Consolidated Edison by 28.5% during the fourth quarter. GW&K Investment Management LLC now owns 419 shares of the utilities provider’s stock worth $42,000 after buying an additional 93 shares during the period. Meadowbrook Wealth Management LLC boosted its position in shares of Consolidated Edison by 2.2% during the 4th quarter. Meadowbrook Wealth Management LLC now owns 4,687 shares of the utilities provider’s stock valued at $466,000 after purchasing an additional 100 shares in the last quarter. bLong Financial LLC boosted its position in shares of Consolidated Edison by 1.3% during the 4th quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider’s stock valued at $772,000 after purchasing an additional 100 shares in the last quarter. Bridgewater Advisors Inc. boosted its position in shares of Consolidated Edison by 1.6% during the 4th quarter. Bridgewater Advisors Inc. now owns 6,635 shares of the utilities provider’s stock valued at $689,000 after purchasing an additional 105 shares in the last quarter. Finally, Venture Visionary Partners LLC grew its stake in Consolidated Edison by 2.0% during the fourth quarter. Venture Visionary Partners LLC now owns 5,606 shares of the utilities provider’s stock worth $557,000 after purchasing an additional 108 shares during the period. 66.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Evercore set a $116.00 target price on Consolidated Edison in a report on Monday, May 11th. KeyCorp increased their price target on Consolidated Edison from $96.00 to $97.00 and gave the stock an “underweight” rating in a report on Tuesday, April 21st. Barclays reduced their price objective on shares of Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating for the company in a research report on Monday, May 11th. The Goldman Sachs Group reiterated a “sell” rating and set a $105.00 target price on shares of Consolidated Edison in a research report on Thursday, May 14th. Finally, Morgan Stanley reissued an “underweight” rating on shares of Consolidated Edison in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, Consolidated Edison currently has a consensus rating of “Reduce” and a consensus target price of $108.07.

Consolidated Edison Stock Performance

NYSE ED opened at $111.99 on Friday. 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 company has a fifty day simple moving average of $107.58 and a 200 day simple moving average of $107.14. The company has a market cap of $41.27 billion, a P/E ratio of 18.85, a PEG ratio of 2.84 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 released its quarterly earnings results on Thursday, May 7th. The utilities provider reported $2.18 EPS for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.10). The company had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Consolidated Edison had a net margin of 12.52% and a return on equity of 8.33%. During the same period in the previous year, the company posted $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Sell-side 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 announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th were given a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Wednesday, May 13th. Consolidated Edison’s dividend payout ratio (DPR) is currently 59.76%.

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.