BNP Paribas Sells 69,756 Shares of Consolidated Edison Inc $ED

BNP Paribas lessened its stake in Consolidated Edison Inc (NYSE:ED) by 69.5% during the fourth quarter, Holdings Channel reports. The firm owned 30,647 shares of the utilities provider’s stock after selling 69,756 shares during the period. BNP Paribas’ holdings in Consolidated Edison were worth $3,045,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Consolidated Edison by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 45,636,041 shares of the utilities provider’s stock valued at $4,532,572,000 after purchasing an additional 461,108 shares in the last quarter. State Street Corp lifted its holdings in shares of Consolidated Edison by 0.3% in the third quarter. State Street Corp now owns 24,050,572 shares of the utilities provider’s stock valued at $2,417,563,000 after purchasing an additional 63,346 shares in the last quarter. Lazard Asset Management LLC lifted its holdings 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 valued at $599,155,000 after purchasing an additional 5,955,653 shares in the last quarter. Norges Bank bought a new position in shares of Consolidated Edison in the fourth quarter valued at approximately $489,806,000. Finally, Legal & General Group Plc lifted its holdings in shares of Consolidated Edison by 1.1% in the fourth quarter. Legal & General Group Plc now owns 4,399,844 shares of the utilities provider’s stock valued at $436,993,000 after purchasing an additional 48,314 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ED. Barclays dropped their target price on Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating on the stock in a report on Monday, May 11th. Scotiabank raised their target price on Consolidated Edison from $113.00 to $117.00 and gave the company a “sector perform” rating in a report on Friday, February 20th. Morgan Stanley set a $99.00 target price on Consolidated Edison in a report on Thursday, May 21st. KeyCorp raised their target price on Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. raised their target price on Consolidated Edison from $107.00 to $113.00 and gave the company an “underweight” rating in a report on Thursday, March 12th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $108.71.

Insider Transactions at Consolidated Edison

In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of the firm’s stock in a transaction on 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 sale, the senior vice president directly owned 32,453 shares of the company’s stock, valued at $3,697,694.82. This trade represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.15% of the stock is owned by corporate insiders.

Consolidated Edison Stock Performance

NYSE:ED opened at $103.69 on Tuesday. 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 business has a fifty day simple moving average of $109.61 and a two-hundred day simple moving average of $106.18. 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 $38.21 billion, a P/E ratio of 17.46, a P/E/G ratio of 2.68 and a beta of 0.27.

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

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th will be given a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, May 13th. 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.