Magellan Asset Management Ltd Has $29.73 Million Stock Holdings in Consolidated Edison Inc $ED

Magellan Asset Management Ltd raised its holdings in Consolidated Edison Inc (NYSE:ED) by 7.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 295,762 shares of the utilities provider’s stock after buying an additional 20,558 shares during the period. Magellan Asset Management Ltd’s holdings in Consolidated Edison were worth $29,730,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Consolidated Edison by 13.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,819 shares of the utilities provider’s stock worth $7,320,000 after purchasing an additional 8,562 shares during the last quarter. Bryce Point Capital LLC purchased a new position in shares of Consolidated Edison during the third quarter valued at approximately $556,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in Consolidated Edison by 3.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,028,686 shares of the utilities provider’s stock worth $103,404,000 after buying an additional 29,606 shares in the last quarter. Nuance Investments LLC purchased a new stake in Consolidated Edison in the 3rd quarter valued at $4,017,000. Finally, Atlantic Union Bankshares Corp lifted its stake in Consolidated Edison by 46.7% during the 2nd quarter. Atlantic Union Bankshares Corp now owns 3,714 shares of the utilities provider’s stock valued at $373,000 after acquiring an additional 1,183 shares in the last quarter. 66.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on ED shares. KeyCorp reduced their target price on shares of Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating for the company in a research note on Friday, December 12th. JPMorgan Chase & Co. cut their price target on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating on the stock in a report on Friday, December 12th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Consolidated Edison in a research report on Monday, December 29th. TD Cowen lifted their target price on shares of Consolidated Edison from $105.00 to $112.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $102.00 target price on shares of Consolidated Edison in a report on Friday. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, Consolidated Edison has an average rating of “Reduce” and a consensus price target of $106.87.

Insider Activity

In other news, Director John F. Killian sold 2,276 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total transaction of $220,521.64. Following the transaction, the director owned 38,661 shares of the company’s stock, valued at $3,745,864.29. This represents a 5.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is currently owned by insiders.

Consolidated Edison Stock Performance

NYSE ED opened at $111.02 on Wednesday. The company has a market capitalization of $40.11 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 3.04 and a beta of 0.38. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 1.02. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $115.25. The company has a 50-day simple moving average of $104.27 and a 200 day simple moving average of $100.96.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.03. Consolidated Edison had a net margin of 11.95% and a return on equity of 8.50%. The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the prior year, the firm earned $0.98 EPS. The company’s revenue was up 8.9% compared to the same quarter last year. 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 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Wednesday, February 18th will be given a $0.8875 dividend. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.85. This represents a $3.55 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, February 18th. Consolidated Edison’s dividend payout ratio (DPR) is 62.83%.

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.