Pictet Asset Management Holding SA Increases Stock Position in Consolidated Edison Inc $ED

Pictet Asset Management Holding SA raised its position in Consolidated Edison Inc (NYSE:ED) by 84.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 391,827 shares of the utilities provider’s stock after buying an additional 178,877 shares during the period. Pictet Asset Management Holding SA owned about 0.11% of Consolidated Edison worth $44,347,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. GW&K Investment Management LLC boosted its stake in shares of Consolidated Edison by 28.5% during the 4th quarter. GW&K Investment Management LLC now owns 419 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 93 shares in the last quarter. Meadowbrook Wealth Management LLC raised its holdings in Consolidated Edison by 2.2% in the 4th quarter. Meadowbrook Wealth Management LLC now owns 4,687 shares of the utilities provider’s stock worth $466,000 after purchasing an additional 100 shares during the period. bLong Financial LLC raised its holdings in Consolidated Edison by 1.3% in the 4th quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider’s stock worth $772,000 after purchasing an additional 100 shares during the period. Bridgewater Advisors Inc. boosted its position in Consolidated Edison by 1.6% during the fourth quarter. Bridgewater Advisors Inc. now owns 6,635 shares of the utilities provider’s stock worth $689,000 after purchasing an additional 105 shares in the last quarter. Finally, Venture Visionary Partners LLC grew its holdings in Consolidated Edison by 2.0% in the fourth quarter. Venture Visionary Partners LLC now owns 5,606 shares of the utilities provider’s stock valued at $557,000 after purchasing an additional 108 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

ED has been the subject of several research analyst reports. Argus set a $112.00 target price on Consolidated Edison in a research note on Tuesday, June 23rd. The Goldman Sachs Group reissued a “sell” rating and issued a $105.00 price target on shares of Consolidated Edison in a research note on Thursday, May 14th. Wells Fargo & Company set a $98.00 price objective on shares of Consolidated Edison in a research report on Tuesday, April 21st. Evercore set a $116.00 price objective on shares of Consolidated Edison in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. lifted their target price 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. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $108.07.

Consolidated Edison Price Performance

Shares of Consolidated Edison stock opened at $110.73 on Wednesday. The stock has a market capitalization of $40.81 billion, a P/E ratio of 18.64, a PEG ratio of 2.85 and a beta of 0.27. The business has a 50 day simple moving average of $107.62 and a two-hundred day simple moving average of $107.44. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $116.23. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.19 and a quick ratio of 1.09.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, May 7th. The utilities provider reported $2.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.10). Consolidated Edison had a return on equity of 8.33% and a net margin of 12.52%.The firm had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same period in the prior year, the firm earned $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, analysts predict that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th were paid a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Wednesday, May 13th. Consolidated Edison’s payout ratio is 59.76%.

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.