Bank of New York Mellon Corp Has $218.32 Million Stake in Consolidated Edison Inc $ED

Bank of New York Mellon Corp reduced its position in shares of Consolidated Edison Inc (NYSE:ED) by 4.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,198,139 shares of the utilities provider’s stock after selling 90,779 shares during the quarter. Bank of New York Mellon Corp’s holdings in Consolidated Edison were worth $218,319,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ED. JPL Wealth Management LLC bought a new stake in Consolidated Edison during the third quarter worth about $26,000. Basepoint Wealth LLC bought a new stake in Consolidated Edison in the fourth quarter valued at approximately $26,000. Aventura Private Wealth LLC bought a new position in shares of Consolidated Edison during the fourth quarter worth approximately $27,000. Westfuller Advisors LLC bought a new position in shares of Consolidated Edison during the fourth quarter worth approximately $27,000. Finally, Dorato Capital Management bought a new position in shares of Consolidated Edison during the fourth quarter worth approximately $28,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Consolidated Edison

In other news, SVP Deneen L. Donnley sold 1,922 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $113.94, for a total transaction of $218,992.68. Following the completion of the transaction, the senior vice president directly owned 32,453 shares of the company’s stock, valued at approximately $3,697,694.82. This represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Mizuho reissued a “neutral” rating and set a $105.00 price target on shares of Consolidated Edison in a research report on Tuesday. 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. Wells Fargo & Company set a $98.00 price target on Consolidated Edison in a research note on Tuesday, April 21st. Weiss Ratings raised Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Finally, Citigroup reaffirmed a “buy” rating on shares of Consolidated Edison in a research report on Monday, February 23rd. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, Consolidated Edison has an average rating of “Reduce” and an average price target of $107.79.

Consolidated Edison Trading Up 2.1%

Shares of ED stock opened at $106.31 on Friday. The company’s fifty day simple moving average is $109.20 and its two-hundred day simple moving average is $106.24. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.19 and a quick ratio of 1.09. 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 $39.18 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 2.64 and a beta of 0.27.

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 firm had revenue of $5.10 billion for 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 quarter last year, the firm earned $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, analysts anticipate that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders 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 dividend payout ratio is presently 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.