CIBC Asset Management Inc Has $20.72 Million Stock Position in Consolidated Edison Inc $ED

CIBC Asset Management Inc raised its holdings in Consolidated Edison Inc (NYSE:ED) by 20.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 208,733 shares of the utilities provider’s stock after buying an additional 35,709 shares during the quarter. CIBC Asset Management Inc owned 0.06% of Consolidated Edison worth $20,716,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. JPL Wealth Management LLC acquired a new position in shares of Consolidated Edison during the 3rd quarter valued at $26,000. Basepoint Wealth LLC acquired a new stake in Consolidated Edison in the fourth quarter worth $26,000. Aventura Private Wealth LLC acquired a new stake in Consolidated Edison in the fourth quarter worth $27,000. Westfuller Advisors LLC bought a new stake in Consolidated Edison in the fourth quarter valued at $27,000. Finally, Dorato Capital Management acquired a new position in shares of Consolidated Edison during the fourth quarter valued at about $28,000. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Up 0.7%

Shares of NYSE ED opened at $104.16 on Friday. 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 company has a 50-day moving average price of $109.28 and a 200-day moving average price of $106.24. The stock has a market capitalization of $38.39 billion, a P/E ratio of 17.54, a P/E/G ratio of 2.63 and a beta of 0.27. Consolidated Edison Inc has a 1 year low of $94.96 and a 1 year high of $116.23.

Consolidated Edison (NYSE:ED) last posted its 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 business had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the prior year, the company earned $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, equities research analysts forecast that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th will be issued a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Wednesday, May 13th. Consolidated Edison’s dividend payout ratio (DPR) is currently 59.76%.

Analyst Ratings Changes

ED has been the topic of a number of research analyst reports. Wells Fargo & Company set a $98.00 price objective on shares of Consolidated Edison in a research report on Tuesday, April 21st. Bank of America reaffirmed an “underperform” rating and set a $104.00 price target on shares of Consolidated Edison in a research note on Wednesday, February 25th. Scotiabank increased their price target on Consolidated Edison from $113.00 to $117.00 and gave the stock a “sector perform” rating in a report on Friday, February 20th. KeyCorp raised their price objective on Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a research note on Tuesday, April 21st. Finally, Evercore set a $116.00 price objective on Consolidated Edison in a report on Monday, May 11th. Two investment 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, the company currently has a consensus rating of “Reduce” and a consensus price target of $107.79.

Insider Activity

In related news, SVP Deneen L. Donnley sold 1,922 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $113.94, for a total transaction of $218,992.68. Following the completion of the sale, the senior vice president owned 32,453 shares in the company, 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 filing with the SEC, which can be accessed through this link. 0.15% of the stock is currently owned by insiders.

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.