BW Gestao de Investimentos Ltda. Invests $17.98 Million in Consolidated Edison Inc $ED

BW Gestao de Investimentos Ltda. bought a new position in Consolidated Edison Inc (NYSE:ED) in the fourth quarter, HoldingsChannel.com reports. The fund bought 181,065 shares of the utilities provider’s stock, valued at approximately $17,983,000.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Consolidated Edison by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 45,636,041 shares of the utilities provider’s stock worth $4,532,572,000 after buying an additional 461,108 shares in the last quarter. State Street Corp grew its position in Consolidated Edison by 0.3% during the 3rd quarter. State Street Corp now owns 24,050,572 shares of the utilities provider’s stock worth $2,417,563,000 after acquiring an additional 63,346 shares during the last quarter. Lazard Asset Management LLC grew its position in Consolidated Edison by 121,543.9% during the 3rd quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock worth $599,155,000 after acquiring an additional 5,955,653 shares during the last quarter. Norges Bank acquired a new stake in Consolidated Edison during the 4th quarter valued at $489,806,000. Finally, Legal & General Group Plc increased its holdings in Consolidated Edison by 1.1% during the 4th 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. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $103.69 on Tuesday. The company has a market capitalization of $38.21 billion, a PE ratio of 17.46, a PEG ratio of 2.68 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. 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 stock’s fifty day simple moving average is $109.61 and its 200 day simple moving average is $106.18.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, May 7th. The utilities provider reported $2.18 EPS for the quarter, missing the consensus estimate of $2.28 by ($0.10). Consolidated Edison had a return on equity of 8.33% and a net margin of 12.52%.The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period in the previous year, the business posted $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, research analysts predict that Consolidated Edison Inc will post 6.09 EPS for the current 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 paid a $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $3.55 annualized dividend and a dividend yield of 3.4%. Consolidated Edison’s dividend payout ratio (DPR) is currently 59.76%.

Wall Street Analyst Weigh In

ED has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on Consolidated Edison from $107.00 to $113.00 and gave the company an “underweight” rating in a report on Thursday, March 12th. Barclays dropped their price target on Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating for the company in a report on Monday, May 11th. Scotiabank raised their price target on Consolidated Edison from $113.00 to $117.00 and gave the company a “sector perform” rating in a report on Friday, February 20th. TD Cowen raised their price target on Consolidated Edison from $105.00 to $112.00 and gave the company a “hold” rating in a report on Tuesday, February 24th. Finally, Wells Fargo & Company set a $98.00 price target on Consolidated Edison in a report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, Consolidated Edison has an average rating of “Reduce” and a consensus target price of $108.71.

Insider Activity

In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of Consolidated Edison stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $113.94, for a total value of $218,992.68. Following the sale, the senior vice president owned 32,453 shares of the company’s stock, valued at $3,697,694.82. This trade represents a 5.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.15% of the stock is owned by corporate insiders.

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.