Delta Global Management LP Buys 13,779 Shares of Consolidated Edison Inc $ED

Delta Global Management LP lifted its stake in shares of Consolidated Edison Inc (NYSE:ED) by 122.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,070 shares of the utilities provider’s stock after purchasing an additional 13,779 shares during the period. Delta Global Management LP’s holdings in Consolidated Edison were worth $2,520,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ED. Lazard Asset Management LLC raised its position in Consolidated Edison by 121,543.9% in the 3rd quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock worth $599,155,000 after purchasing an additional 5,955,653 shares during the last quarter. Norges Bank bought a new position in Consolidated Edison in the 2nd quarter valued at $462,218,000. Vanguard Group Inc. increased its stake in shares of Consolidated Edison by 4.5% in the 2nd quarter. Vanguard Group Inc. now owns 45,040,811 shares of the utilities provider’s stock valued at $4,519,845,000 after buying an additional 1,923,717 shares during the period. AQR Capital Management LLC increased its stake in shares of Consolidated Edison by 104.6% in the 3rd quarter. AQR Capital Management LLC now owns 1,905,678 shares of the utilities provider’s stock valued at $190,530,000 after buying an additional 974,419 shares during the period. Finally, Qube Research & Technologies Ltd raised its position in shares of Consolidated Edison by 2,190.9% during the second quarter. Qube Research & Technologies Ltd now owns 978,160 shares of the utilities provider’s stock worth $98,158,000 after acquiring an additional 935,463 shares during the last quarter. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Up 1.5%

Shares of Consolidated Edison stock opened at $114.85 on Monday. The business has a fifty day simple moving average of $107.57 and a 200 day simple moving average of $101.92. The stock has a market cap of $41.49 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 3.08 and a beta of 0.38. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 1.06. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $115.37.

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 the consensus estimate of $0.86 by $0.03. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. The company’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. Research analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Wednesday, February 18th will be given a $0.8875 dividend. 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%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.85. Consolidated Edison’s dividend payout ratio is 62.83%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ED shares. Bank of America reaffirmed an “underperform” rating and set a $104.00 price target on shares of Consolidated Edison in a research note on Wednesday, February 25th. Weiss Ratings reissued a “buy (b-)” rating on shares of Consolidated Edison in a report on Monday, December 29th. Barclays upped their target price on shares of Consolidated Edison from $100.00 to $110.00 and gave the company an “underweight” rating in a research report on Tuesday, February 24th. Scotiabank raised their target price on shares of Consolidated Edison from $113.00 to $117.00 and gave the company a “sector perform” rating in a research note on Friday, February 20th. Finally, Citigroup reiterated a “buy” rating on shares of Consolidated Edison in a research report on Monday, February 23rd. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $108.80.

Insider Buying and Selling at Consolidated Edison

In related news, SVP Deneen L. Donnley sold 1,922 shares of Consolidated Edison stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $113.94, for a total transaction of $218,992.68. Following the transaction, the senior vice president owned 32,453 shares of the company’s stock, valued at $3,697,694.82. This trade represents a 5.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is owned by corporate insiders.

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.