Swiss Life Asset Management Ltd Sells 28,923 Shares of Consolidated Edison Inc $ED

Swiss Life Asset Management Ltd trimmed its stake in Consolidated Edison Inc (NYSE:ED) by 22.6% during the third quarter, HoldingsChannel.com reports. The fund owned 99,101 shares of the utilities provider’s stock after selling 28,923 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Consolidated Edison were worth $9,962,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ED. Revolve Wealth Partners LLC grew its holdings in shares of Consolidated Edison by 13.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after purchasing an additional 441 shares during the last quarter. Empowered Funds LLC increased its position in shares of Consolidated Edison by 42.1% during the 1st quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock worth $993,000 after purchasing an additional 2,659 shares in the last quarter. Woodline Partners LP lifted its holdings in Consolidated Edison by 40.7% during the 1st quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock valued at $3,237,000 after purchasing an additional 8,468 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Consolidated Edison by 3.7% during the 2nd quarter. Cetera Investment Advisers now owns 97,050 shares of the utilities provider’s stock valued at $9,739,000 after purchasing an additional 3,494 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its position in Consolidated Edison by 4.8% in the second quarter. Avantax Advisory Services Inc. now owns 24,045 shares of the utilities provider’s stock valued at $2,413,000 after buying an additional 1,095 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Consolidated Edison

In other 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 completion of the sale, the senior vice president owned 32,453 shares in the company, valued at $3,697,694.82. The trade was a 5.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Mizuho set a $118.00 price objective on shares of Consolidated Edison in a report on Monday, February 23rd. UBS Group boosted their target price on Consolidated Edison from $108.00 to $112.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Royal Bank Of Canada restated a “sector perform” rating and set a $118.00 price target on shares of Consolidated Edison in a research report on Friday, January 23rd. KeyCorp raised their price target on Consolidated Edison from $86.00 to $96.00 and gave the company an “underweight” rating in a report on Wednesday, March 4th. Finally, TD Cowen lifted their price objective on Consolidated Edison from $105.00 to $112.00 and gave the company a “hold” rating in a research report on Tuesday, February 24th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $108.80.

Consolidated Edison Stock Down 2.0%

Shares of ED opened at $109.42 on Friday. The firm has a market capitalization of $39.53 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 2.85 and a beta of 0.38. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $116.23. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 1.02. The business’s fifty day moving average price is $108.94 and its two-hundred day moving average price is $102.38.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.03. The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.71 billion. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Wednesday, February 18th were paid a $0.8875 dividend. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $3.55 annualized dividend and a dividend yield of 3.2%. Consolidated Edison’s payout ratio is 62.83%.

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.