BI Asset Management Fondsmaeglerselskab A S Increases Holdings in Consolidated Edison Inc $ED

BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Consolidated Edison Inc (NYSE:ED) by 76.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,888 shares of the utilities provider’s stock after buying an additional 9,890 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Consolidated Edison were worth $2,590,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. IFP Advisors Inc boosted its position in shares of Consolidated Edison by 194.5% during the 3rd quarter. IFP Advisors Inc now owns 15,208 shares of the utilities provider’s stock worth $1,559,000 after purchasing an additional 10,044 shares during the period. Strive Asset Management LLC acquired a new position in Consolidated Edison during the 3rd quarter worth about $1,005,000. North Dakota State Investment Board purchased a new position in Consolidated Edison during the 4th quarter valued at about $1,228,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Consolidated Edison by 5.6% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 776,533 shares of the utilities provider’s stock valued at $78,057,000 after acquiring an additional 40,838 shares during the period. Finally, AIA Group Ltd lifted its position in shares of Consolidated Edison by 99.5% during the third quarter. AIA Group Ltd now owns 46,786 shares of the utilities provider’s stock worth $4,703,000 after purchasing an additional 23,337 shares in the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. KeyCorp boosted their price target on shares of Consolidated Edison from $96.00 to $97.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 21st. Bank of America reiterated an “underperform” rating and issued a $104.00 target price on shares of Consolidated Edison in a report on Wednesday, February 25th. Weiss Ratings raised Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. JPMorgan Chase & Co. upped their price target on Consolidated Edison from $107.00 to $113.00 and gave the stock an “underweight” rating in a report on Thursday, March 12th. Finally, Wells Fargo & Company set a $98.00 price target on Consolidated Edison in a research report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Consolidated Edison has an average rating of “Reduce” and a consensus target price of $108.07.

Consolidated Edison Trading Up 1.8%

Shares of NYSE:ED opened at $108.82 on Wednesday. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $116.23. The company’s 50 day moving average is $107.58 and its two-hundred day moving average is $106.90. 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 company has a market cap of $40.10 billion, a PE ratio of 18.32, a P/E/G ratio of 2.71 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data 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). The firm had revenue of $5.09 billion during the quarter, compared to analyst estimates 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 in the previous year, the business posted $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities analysts predict that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th were paid a $0.8875 dividend. The ex-dividend date was 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 (DPR) is currently 59.76%.

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.