Allianz Asset Management GmbH Buys 110,202 Shares of Consolidated Edison Inc $ED

Allianz Asset Management GmbH grew its stake in Consolidated Edison Inc (NYSE:ED) by 14.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 853,470 shares of the utilities provider’s stock after acquiring an additional 110,202 shares during the quarter. Allianz Asset Management GmbH’s holdings in Consolidated Edison were worth $84,767,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. GW&K Investment Management LLC increased its stake in shares of Consolidated Edison by 28.5% in the 4th quarter. GW&K Investment Management LLC now owns 419 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 93 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in Consolidated Edison during the 4th quarter worth approximately $378,000. TIAA Trust National Association increased its stake in Consolidated Edison by 1.8% during the 4th quarter. TIAA Trust National Association now owns 21,610 shares of the utilities provider’s stock worth $2,146,000 after purchasing an additional 376 shares in the last quarter. Cerity Partners LLC increased its stake in Consolidated Edison by 10.9% during the 4th quarter. Cerity Partners LLC now owns 128,858 shares of the utilities provider’s stock worth $12,798,000 after purchasing an additional 12,707 shares in the last quarter. Finally, LPL Financial LLC increased its stake in Consolidated Edison by 21.5% during the 4th quarter. LPL Financial LLC now owns 932,679 shares of the utilities provider’s stock worth $92,634,000 after purchasing an additional 164,882 shares in the last quarter. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Trading Up 1.2%

NYSE:ED opened at $107.67 on Thursday. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00. The business has a 50 day moving average price of $108.84 and a two-hundred day moving average price of $106.36. The company has a market cap of $39.68 billion, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 2.70 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 earnings per share 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 for the quarter, compared to analyst estimates of $5.22 billion. During the same period last year, the company earned $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, analysts expect that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company 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. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $3.55 dividend on an annualized basis and a yield of 3.3%. Consolidated Edison’s dividend payout ratio is 59.76%.

Analyst Ratings Changes

A number of analysts recently issued reports on ED shares. Mizuho reissued a “neutral” rating and set a $105.00 target price on shares of Consolidated Edison in a research note on Tuesday, June 2nd. TD Cowen increased their target price on Consolidated Edison from $105.00 to $112.00 and gave the stock a “hold” rating in a research note on Tuesday, February 24th. KeyCorp increased their target price on Consolidated Edison from $96.00 to $97.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 21st. Evercore set a $116.00 target price on Consolidated Edison in a research note on Monday, May 11th. Finally, Weiss Ratings raised Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Two 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 presently has an average rating of “Reduce” and an average target price of $107.79.

Consolidated Edison 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.