Cinctive Capital Management LP Takes Position in Consolidated Edison Inc $ED

Cinctive Capital Management LP purchased a new position in shares of Consolidated Edison Inc (NYSE:ED) during the fourth quarter, Holdings Channel.com reports. The fund purchased 62,232 shares of the utilities provider’s stock, valued at approximately $6,181,000.

A number of other hedge funds have also recently added to or reduced their stakes in ED. Revolve Wealth Partners LLC boosted its holdings in Consolidated Edison by 13.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after buying an additional 441 shares in the last quarter. Empowered Funds LLC boosted its holdings in Consolidated Edison by 42.1% during the first quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock worth $993,000 after buying an additional 2,659 shares in the last quarter. Woodline Partners LP boosted its holdings in Consolidated Edison by 40.7% during the first quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock worth $3,237,000 after buying an additional 8,468 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Consolidated Edison during the second quarter worth $3,256,000. Finally, Baird Financial Group Inc. boosted its holdings in Consolidated Edison by 2.1% during the second quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider’s stock worth $1,473,000 after buying an additional 296 shares in the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ED. JPMorgan Chase & Co. increased their price target on shares of Consolidated Edison from $107.00 to $113.00 and gave the stock an “underweight” rating in a report on Thursday, March 12th. KeyCorp increased 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. TD Cowen upped their price objective on shares of Consolidated Edison from $105.00 to $112.00 and gave the stock a “hold” rating in a research report on Tuesday, February 24th. Citigroup reaffirmed a “buy” rating on shares of Consolidated Edison in a report on Monday, February 23rd. Finally, Scotiabank increased their price objective on shares of Consolidated Edison from $113.00 to $117.00 and gave the company a “sector perform” rating in a report on Friday, February 20th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $107.79.

Consolidated Edison Stock Performance

ED opened at $107.07 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00. The company has a market cap of $39.46 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 2.75 and a beta of 0.27. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $116.23. The firm’s fifty day simple moving average is $108.15 and its two-hundred day simple moving average is $106.64.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, May 7th. The utilities provider reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.10). The company 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 previous year, the business earned $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities analysts anticipate that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th were issued a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Wednesday, May 13th. Consolidated Edison’s dividend payout ratio (DPR) is presently 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.