Sterling Capital Management LLC Has $1.43 Million Stock Position in Consolidated Edison Inc $ED

Sterling Capital Management LLC reduced its stake in Consolidated Edison Inc (NYSE:ED) by 42.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,606 shares of the utilities provider’s stock after selling 9,231 shares during the period. Sterling Capital Management LLC’s holdings in Consolidated Edison were worth $1,427,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ED. JPL Wealth Management LLC acquired a new stake in Consolidated Edison in the 3rd quarter valued at $26,000. Basepoint Wealth LLC acquired a new position in Consolidated Edison during the fourth quarter worth $26,000. Aventura Private Wealth LLC acquired a new position in Consolidated Edison during the fourth quarter worth $27,000. Westfuller Advisors LLC acquired a new position in Consolidated Edison during the fourth quarter worth $27,000. Finally, Dorato Capital Management bought a new position in shares of Consolidated Edison during the fourth quarter valued at $28,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on ED. Mizuho restated a “neutral” rating and issued a $105.00 target price on shares of Consolidated Edison in a research note on Tuesday, June 2nd. Argus set a $112.00 price target on shares of Consolidated Edison in a report on Tuesday, June 23rd. 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. Wells Fargo & Company set a $98.00 price target on shares of Consolidated Edison in a research report on Tuesday, April 21st. Finally, Morgan Stanley reaffirmed an “underweight” rating on shares of Consolidated Edison in a research note on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $108.07.

Consolidated Edison Trading Up 0.2%

Shares of NYSE ED opened at $112.25 on Tuesday. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.23. The company has a 50-day moving average of $107.61 and a two-hundred day moving average of $107.34. The company has a market cap of $41.37 billion, a PE ratio of 18.90, a P/E/G ratio of 2.84 and a beta of 0.27. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00.

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 the consensus estimate of $2.28 by ($0.10). The company had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.22 billion. Consolidated Edison had a net margin of 12.52% and a return on equity of 8.33%. During the same period last year, the company earned $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, equities analysts expect that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th were given a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Wednesday, May 13th. Consolidated Edison’s dividend payout ratio (DPR) 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.