Panagora Asset Management Inc. Increases Stock Position in Consolidated Edison Inc $ED

Panagora Asset Management Inc. lifted its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 54.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,202,305 shares of the utilities provider’s stock after acquiring an additional 424,932 shares during the period. Panagora Asset Management Inc. owned 0.33% of Consolidated Edison worth $119,413,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPL Wealth Management LLC purchased a new position in Consolidated Edison in the 3rd quarter valued at $26,000. Basepoint Wealth LLC purchased a new position in Consolidated Edison in the 4th quarter valued at $26,000. Aventura Private Wealth LLC purchased a new position in Consolidated Edison in the 4th quarter valued at $27,000. Westfuller Advisors LLC purchased a new position in Consolidated Edison in the 4th quarter valued at $27,000. Finally, Dorato Capital Management purchased a new position in Consolidated Edison in the 4th quarter valued at $28,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ED. Weiss Ratings upgraded shares of Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. JPMorgan Chase & Co. lifted their price objective on shares of Consolidated Edison from $107.00 to $113.00 and gave the company an “underweight” rating in a research report on Thursday, March 12th. Mizuho reiterated a “neutral” rating and issued a $105.00 price objective on shares of Consolidated Edison in a research report on Tuesday, June 2nd. Scotiabank lifted their price objective on shares of Consolidated Edison from $113.00 to $117.00 and gave the company a “sector perform” rating in a research report on Friday, February 20th. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $105.00 price objective on shares of Consolidated Edison in a research report on Thursday, May 14th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Consolidated Edison currently has a consensus rating of “Reduce” and an average price target of $107.79.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $107.71 on Monday. The firm has a market capitalization of $39.69 billion, a P/E ratio of 18.13, a PEG ratio of 2.74 and a beta of 0.27. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23. The company’s fifty day moving average is $108.59 and its two-hundred day moving average is $106.47. 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 (NYSE:ED) last issued its earnings results on Thursday, May 7th. The utilities provider reported $2.18 EPS for the quarter, missing the consensus estimate of $2.28 by ($0.10). The company had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Consolidated Edison had a return on equity of 8.33% and a net margin of 12.52%.During the same quarter in the previous year, the firm posted $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Analysts forecast that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

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 given a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Wednesday, May 13th. Consolidated Edison’s payout ratio is presently 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.