Te Ahumairangi Investment Management Ltd Has $8.04 Million Stock Holdings in Consolidated Edison Inc $ED

Te Ahumairangi Investment Management Ltd boosted its stake in Consolidated Edison Inc (NYSE:ED) by 19.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,983 shares of the utilities provider’s stock after purchasing an additional 13,223 shares during the period. Consolidated Edison comprises about 1.4% of Te Ahumairangi Investment Management Ltd’s holdings, making the stock its 20th largest holding. Te Ahumairangi Investment Management Ltd’s holdings in Consolidated Edison were worth $8,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in ED. Mirae Asset Global Investments Co. Ltd. grew its position in Consolidated Edison by 13.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,819 shares of the utilities provider’s stock worth $7,320,000 after acquiring an additional 8,562 shares during the last quarter. Bryce Point Capital LLC bought a new position in Consolidated Edison in the third quarter valued at about $556,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of 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 valued at $103,404,000 after purchasing an additional 29,606 shares in the last quarter. Nuance Investments LLC acquired a new stake in shares of Consolidated Edison during the third quarter valued at about $4,017,000. Finally, Caprock Group LLC bought a new stake in shares of Consolidated Edison during the third quarter worth about $2,586,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Trading Up 1.3%

Shares of ED stock traded up $1.48 on Friday, hitting $114.61. The company had a trading volume of 259,038 shares, compared to its average volume of 2,225,959. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $115.25. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 1.02. The firm has a market cap of $41.40 billion, a P/E ratio of 20.28, a P/E/G ratio of 3.00 and a beta of 0.38. The stock’s 50-day moving average is $107.28 and its two-hundred day moving average is $101.79.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, February 19th. The utilities provider reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.03. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.The company had revenue of $4 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period in the previous year, the firm earned $0.98 earnings per share. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, equities research analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders 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. The ex-dividend date is Wednesday, February 18th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.1%. Consolidated Edison’s dividend payout ratio is presently 62.83%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Bank of America reaffirmed an “underperform” rating and issued a $104.00 price objective on shares of Consolidated Edison in a research note on Wednesday, February 25th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a research report on Monday, December 29th. KeyCorp boosted their target price on shares of Consolidated Edison from $86.00 to $96.00 and gave the stock an “underweight” rating in a report on Wednesday, March 4th. Wells Fargo & Company decreased their price target on shares of Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 20th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $118.00 price target on shares of Consolidated Edison in a research note on Friday, January 23rd. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $108.80.

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.