Brevan Howard Capital Management LP Has $4.06 Million Stake in Consolidated Edison Inc $ED

Brevan Howard Capital Management LP reduced its stake in shares of Consolidated Edison Inc (NYSE:ED) by 57.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,389 shares of the utilities provider’s stock after selling 53,879 shares during the quarter. Brevan Howard Capital Management LP’s holdings in Consolidated Edison were worth $4,060,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ED. Vanguard Group Inc. boosted its position in Consolidated Edison by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 45,174,933 shares of the utilities provider’s stock valued at $4,540,984,000 after buying an additional 134,122 shares during the last quarter. Lazard Asset Management LLC increased its position in Consolidated Edison by 121,543.9% in the third quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock worth $599,155,000 after purchasing an additional 5,955,653 shares during the period. Norges Bank bought a new stake in Consolidated Edison during the 2nd quarter worth about $462,218,000. Legal & General Group Plc lifted its position in Consolidated Edison by 1.2% during the 3rd quarter. Legal & General Group Plc now owns 4,351,530 shares of the utilities provider’s stock valued at $437,416,000 after purchasing an additional 52,061 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Consolidated Edison by 5.3% in the 3rd quarter. Invesco Ltd. now owns 3,583,423 shares of the utilities provider’s stock valued at $360,206,000 after purchasing an additional 179,278 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

ED stock opened at $114.85 on Monday. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $115.37. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. The firm has a market cap of $41.49 billion, a PE ratio of 20.33, a P/E/G ratio of 3.08 and a beta of 0.38. The business’s 50-day moving average price is $107.57 and its two-hundred day moving average price is $101.92.

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

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Wednesday, February 18th will be issued a dividend of $0.8875 per share. The ex-dividend date is Wednesday, February 18th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.85. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.1%. Consolidated Edison’s dividend payout ratio (DPR) is 62.83%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ED shares. Morgan Stanley reissued an “underweight” rating and set a $102.00 price target on shares of Consolidated Edison in a research note on Friday, February 20th. Barclays lifted their target price on shares of Consolidated Edison from $100.00 to $110.00 and gave the stock an “underweight” rating in a report on Tuesday, February 24th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a report on Monday, December 29th. Scotiabank increased their target price on Consolidated Edison from $113.00 to $117.00 and gave the company a “sector perform” rating in a research note on Friday, February 20th. Finally, Mizuho set a $118.00 target price on Consolidated Edison in a report on Monday, February 23rd. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, Consolidated Edison currently has a consensus rating of “Reduce” and an average target price of $108.80.

Insider Buying and Selling

In related news, SVP Deneen L. Donnley sold 1,922 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $113.94, for a total value of $218,992.68. Following the completion of the transaction, the senior vice president directly owned 32,453 shares of the company’s stock, valued at approximately $3,697,694.82. This represents a 5.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.17% of the company’s stock.

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.