Principal Financial Group Inc. Raises Holdings in Consolidated Edison Inc $ED

Principal Financial Group Inc. grew its position in Consolidated Edison Inc (NYSE:ED) by 9.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 546,386 shares of the utilities provider’s stock after purchasing an additional 49,109 shares during the quarter. Principal Financial Group Inc.’s holdings in Consolidated Edison were worth $54,267,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. QRG Capital Management Inc. lifted its holdings in shares of Consolidated Edison by 4.5% in the 4th quarter. QRG Capital Management Inc. now owns 175,354 shares of the utilities provider’s stock worth $17,416,000 after buying an additional 7,630 shares during the period. Pinnacle Wealth Management Advisory Group LLC grew its stake in Consolidated Edison by 36.7% in the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,155 shares of the utilities provider’s stock valued at $413,000 after purchasing an additional 1,116 shares during the last quarter. Varma Mutual Pension Insurance Co raised its holdings in Consolidated Edison by 13.6% in the fourth quarter. Varma Mutual Pension Insurance Co now owns 139,915 shares of the utilities provider’s stock worth $13,896,000 after purchasing an additional 16,700 shares in the last quarter. Intact Investment Management Inc. bought a new position in Consolidated Edison in the fourth quarter worth about $79,000. Finally, Aurora Private Wealth Inc. bought a new position in Consolidated Edison in the fourth quarter worth about $209,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison News Summary

Here are the key news stories impacting Consolidated Edison this week:

• Positive Sentiment: Con Edison reported higher first-quarter net income and revenue, supported by robust electricity, gas, and steam demand. Reuters article
• Positive Sentiment: The company reiterated full-year EPS guidance of $6.00 to $6.20, which is broadly in line with expectations and signals stable outlook for the regulated utility. PR Newswire article
• Neutral Sentiment: Management continues to highlight long-term investment plans, including a large capital spending program, which could support future rate base growth but will also require significant spending. MSN article
• Negative Sentiment: Adjusted quarterly earnings missed analysts’ estimates, reflecting higher expenses and softer-than-expected profitability. Zacks article
• Negative Sentiment: Revenue also came in below consensus, reinforcing concerns that near-term results may not be as strong as investors had hoped. MarketWatch article

Consolidated Edison Trading Down 0.0%

Consolidated Edison stock opened at $106.34 on Friday. The stock has a 50-day moving average of $111.55 and a two-hundred day moving average of $105.24. 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 one year low of $94.96 and a one year high of $116.23. The stock has a market cap of $39.18 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 2.71 and a beta of 0.29.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, May 7th. The utilities provider reported $2.18 EPS for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.10). Consolidated Edison had a net margin of 12.52% and a return on equity of 8.47%. The business had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter last year, the business posted $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, research analysts anticipate that Consolidated Edison Inc will post 6.08 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Wednesday, May 13th. This represents a $3.55 dividend on an annualized basis and a yield of 3.3%. Consolidated Edison’s dividend payout ratio (DPR) is 62.83%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ED. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $118.00 target price on shares of Consolidated Edison in a report on Friday, January 23rd. Scotiabank lifted their price target on shares of Consolidated Edison from $113.00 to $117.00 and gave the stock a “sector perform” rating in a report on Friday, February 20th. Wells Fargo & Company set a $98.00 price target on shares of Consolidated Edison in a report on Tuesday, April 21st. Citigroup reiterated a “buy” rating on shares of Consolidated Edison in a report on Monday, February 23rd. Finally, KeyCorp increased their price objective on Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a report on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Consolidated Edison has a consensus rating of “Reduce” and a consensus price target of $108.92.

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 stock was sold at an average price of $113.94, for a total value of $218,992.68. Following the completion of the sale, the senior vice president directly owned 32,453 shares in the company, valued at approximately $3,697,694.82. This trade 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 the SEC website. Company insiders own 0.15% of the company’s stock.

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.