Geode Capital Management LLC Purchases 17,294 Shares of Consolidated Edison Inc $ED

Geode Capital Management LLC grew its position in shares of Consolidated Edison Inc (NYSE:ED) by 0.2% in the fourth quarter, Holdings Channel reports. The fund owned 9,988,113 shares of the utilities provider’s stock after buying an additional 17,294 shares during the quarter. Geode Capital Management LLC’s holdings in Consolidated Edison were worth $988,380,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JPL Wealth Management LLC bought a new position in Consolidated Edison during the third quarter valued at $26,000. Aventura Private Wealth LLC purchased a new position in Consolidated Edison in the fourth quarter worth about $27,000. Westfuller Advisors LLC bought a new stake in Consolidated Edison during the fourth quarter worth approximately $27,000. Dorato Capital Management bought a new stake in Consolidated Edison during the fourth quarter worth approximately $28,000. Finally, WealthCollab LLC raised its position in Consolidated Edison by 68.4% during the fourth quarter. WealthCollab LLC now owns 315 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 128 shares during the period. 66.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Barclays lowered their price target on Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating for the company in a research report on Monday, May 11th. KeyCorp raised their price objective 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. Scotiabank boosted their target price on Consolidated Edison from $113.00 to $117.00 and gave the company a “sector perform” rating in a research report on Friday, February 20th. Evercore set a $116.00 target price on Consolidated Edison in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. upped their price target on shares of Consolidated Edison from $107.00 to $113.00 and gave the stock an “underweight” rating in a report on Thursday, March 12th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $108.71.

Consolidated Edison Stock Performance

Shares of ED stock opened at $105.88 on Friday. The firm has a market cap of $39.02 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 2.70 and a beta of 0.29. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $116.23. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00. The company’s 50 day moving average is $109.77 and its 200 day moving average is $106.10.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, May 7th. The utilities provider reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.10). Consolidated Edison had a net margin of 12.52% and a return on equity of 8.33%. The company had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same period last year, the business posted $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, sell-side analysts anticipate 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. Shareholders of record on Wednesday, May 13th will be paid a $0.8875 dividend. This represents a $3.55 annualized dividend and a yield of 3.4%. The ex-dividend date is Wednesday, May 13th. Consolidated Edison’s payout ratio is 59.76%.

Insider Buying and Selling

In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of the stock in a transaction dated Thursday, March 12th. The shares were 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 directly owned 32,453 shares of the company’s stock, valued at approximately $3,697,694.82. This represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Consolidated Edison Company 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.