Goldman Sachs Group Inc. Buys 556,491 Shares of Consolidated Edison Inc $ED

Goldman Sachs Group Inc. increased its stake in Consolidated Edison Inc (NYSE:ED) by 24.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,813,360 shares of the utilities provider’s stock after purchasing an additional 556,491 shares during the period. Goldman Sachs Group Inc.’s holdings in Consolidated Edison were worth $279,423,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ED. Nuance Investments LLC acquired a new stake in Consolidated Edison during the third quarter worth approximately $4,017,000. Bryce Point Capital LLC acquired a new stake in shares of Consolidated Edison in the third quarter valued at approximately $556,000. Caprock Group LLC acquired a new stake in shares of Consolidated Edison in the third quarter valued at approximately $2,586,000. IFP Advisors Inc raised its position in shares of Consolidated Edison by 194.5% in the third quarter. IFP Advisors Inc now owns 15,208 shares of the utilities provider’s stock valued at $1,559,000 after buying an additional 10,044 shares in the last quarter. Finally, ING Groep NV raised its position in shares of Consolidated Edison by 34.3% in the third quarter. ING Groep NV now owns 46,687 shares of the utilities provider’s stock valued at $4,693,000 after buying an additional 11,916 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of the business’s 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 transaction, the senior vice president directly owned 32,453 shares in the company, valued at $3,697,694.82. The trade was 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 at this link. 0.15% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ED shares. 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. Barclays dropped their price target on shares of Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating for the company in a research report on Monday, May 11th. Mizuho reiterated a “neutral” rating and issued a $105.00 price target on shares of Consolidated Edison in a research report on Tuesday. KeyCorp lifted their price target on shares of Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a research report on Tuesday, April 21st. Finally, Morgan Stanley set a $99.00 price target on shares of Consolidated Edison in a research report on Thursday, May 21st. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, Consolidated Edison has an average rating of “Reduce” and an average target price of $107.79.

Consolidated Edison Stock Up 2.1%

Shares of ED opened at $106.31 on Friday. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23. The company has a market cap of $39.18 billion, a P/E ratio of 17.90, a P/E/G ratio of 2.64 and a beta of 0.27. 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 firm has a 50 day simple moving average of $109.20 and a two-hundred day simple moving average of $106.24.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, May 7th. The utilities provider reported $2.18 EPS for the quarter, missing the consensus estimate of $2.28 by ($0.10). Consolidated Edison had a net margin of 12.52% and a return on equity of 8.33%. The firm had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter 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. Research analysts forecast that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th will be given a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a yield of 3.3%. The ex-dividend date is Wednesday, May 13th. Consolidated Edison’s payout ratio is currently 59.76%.

About Consolidated Edison

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.