Assenagon Asset Management S.A. Sells 747,714 Shares of Consolidated Edison Inc $ED

Assenagon Asset Management S.A. cut its stake in Consolidated Edison Inc (NYSE:ED) by 83.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,181 shares of the utilities provider’s stock after selling 747,714 shares during the period. Assenagon Asset Management S.A.’s holdings in Consolidated Edison were worth $16,318,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Revolve Wealth Partners LLC lifted its stake in Consolidated Edison by 13.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after purchasing an additional 441 shares during the last quarter. Empowered Funds LLC grew its position in Consolidated Edison by 42.1% in the first quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock valued at $993,000 after acquiring an additional 2,659 shares during the last quarter. Woodline Partners LP grew its position in Consolidated Edison by 40.7% in the first quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock valued at $3,237,000 after acquiring an additional 8,468 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Consolidated Edison during the second quarter worth about $3,256,000. Finally, Baird Financial Group Inc. lifted its holdings in shares of Consolidated Edison by 2.1% in the second quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider’s stock worth $1,473,000 after acquiring an additional 296 shares during the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $111.99 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.19. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $116.23. The firm has a market cap of $41.27 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 2.84 and a beta of 0.27. The firm’s fifty day moving average is $107.58 and its 200-day moving average is $107.14.

Consolidated Edison (NYSE:ED) last posted 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 company 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 company earned $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Sell-side analysts predict that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th were paid a $0.8875 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $3.55 annualized dividend and a dividend yield of 3.2%. Consolidated Edison’s dividend payout ratio is presently 59.76%.

Analysts Set New Price Targets

ED has been the topic of several research reports. Evercore set a $116.00 price target on shares of Consolidated Edison in a report on Monday, May 11th. KeyCorp boosted their target price 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. JPMorgan Chase & Co. increased their price target on Consolidated Edison from $107.00 to $113.00 and gave the company an “underweight” rating in a research note on Thursday, March 12th. Weiss Ratings upgraded Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Finally, Morgan Stanley reaffirmed an “underweight” rating on shares of Consolidated Edison in a report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat, Consolidated Edison currently has an average rating of “Reduce” and a consensus target price of $108.07.

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.