CIBC Asset Management Inc Purchases 35,709 Shares of Consolidated Edison Inc $ED

CIBC Asset Management Inc increased its position in shares of Consolidated Edison Inc (NYSE:ED) by 20.6% during the 4th quarter, Holdings Channel reports. The firm owned 208,733 shares of the utilities provider’s stock after purchasing an additional 35,709 shares during the quarter. CIBC Asset Management Inc’s holdings in Consolidated Edison were worth $20,716,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ED. Meadowbrook Wealth Management LLC increased its stake 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 valued at $466,000 after buying an additional 100 shares during the last quarter. bLong Financial LLC grew its holdings in shares of Consolidated Edison by 1.3% in the fourth quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider’s stock valued at $772,000 after acquiring an additional 100 shares in the last quarter. Bridgewater Advisors Inc. increased its position in shares of Consolidated Edison by 1.6% during the fourth quarter. Bridgewater Advisors Inc. now owns 6,635 shares of the utilities provider’s stock valued at $689,000 after acquiring an additional 105 shares during the last quarter. HighPoint Advisor Group LLC increased its position in shares of Consolidated Edison by 0.7% during the third quarter. HighPoint Advisor Group LLC now owns 14,811 shares of the utilities provider’s stock valued at $1,489,000 after acquiring an additional 110 shares during the last quarter. Finally, JFS Wealth Advisors LLC lifted its holdings in Consolidated Edison by 36.4% during the third quarter. JFS Wealth Advisors LLC now owns 412 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 110 shares during the period. 66.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Evercore set a $116.00 price objective on Consolidated Edison in a research report on Monday, May 11th. TD Cowen lifted their target price on Consolidated Edison from $105.00 to $112.00 and gave the stock a “hold” rating in a research note on Tuesday, February 24th. KeyCorp boosted their price target on shares of Consolidated Edison from $96.00 to $97.00 and gave the stock an “underweight” rating in a report on Tuesday, April 21st. Mizuho restated a “neutral” rating and set a $105.00 price target on shares of Consolidated Edison in a research report on Tuesday. Finally, Weiss Ratings upgraded shares of Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $107.79.

Consolidated Edison Stock Performance

NYSE:ED opened at $104.16 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.19 and a quick ratio of 1.09. The business has a fifty day simple moving average of $109.28 and a two-hundred day simple moving average of $106.24. Consolidated Edison Inc has a 1 year low of $94.96 and a 1 year high of $116.23. The company has a market capitalization of $38.39 billion, a P/E ratio of 17.54, a P/E/G ratio of 2.63 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last issued 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). The firm had revenue of $5.10 billion for the quarter, compared to analysts’ expectations 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 in the prior year, the company earned $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, analysts expect that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th will be issued a dividend of $0.8875 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $3.55 annualized dividend and a yield of 3.4%. Consolidated Edison’s dividend payout ratio is 59.76%.

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 shares were sold at an average price of $113.94, for a total transaction of $218,992.68. Following the completion of the transaction, the senior vice president owned 32,453 shares in the company, valued at $3,697,694.82. This trade represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.15% of the stock is currently owned by company 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.