Welch Group LLC Raises Stock Holdings in Consolidated Edison Inc $ED

Welch Group LLC increased its position in Consolidated Edison Inc (NYSE:ED) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 528,169 shares of the utilities provider’s stock after buying an additional 5,472 shares during the quarter. Consolidated Edison accounts for approximately 2.0% of Welch Group LLC’s holdings, making the stock its 22nd biggest holding. Welch Group LLC’s holdings in Consolidated Edison were worth $52,458,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ED. Revolve Wealth Partners LLC increased its stake in shares of Consolidated Edison by 13.4% in 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 during the period. Empowered Funds LLC increased its position in Consolidated Edison by 42.1% during the 1st quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock valued at $993,000 after purchasing an additional 2,659 shares during the period. Woodline Partners LP increased its position 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 period. Arrowstreet Capital Limited Partnership purchased a new position in Consolidated Edison during the 2nd quarter valued at $3,256,000. Finally, Baird Financial Group Inc. increased its position in Consolidated Edison by 2.1% during the 2nd quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider’s stock valued at $1,473,000 after purchasing an additional 296 shares during the period. 66.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Activity at Consolidated Edison

In other news, SVP Deneen L. Donnley sold 1,922 shares of the business’s stock in a transaction 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 sale, the senior vice president owned 32,453 shares in the company, valued at approximately $3,697,694.82. The trade was a 5.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.19% of the company’s stock.

Consolidated Edison Stock Performance

Shares of ED stock opened at $110.49 on Friday. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $116.23. The stock has a market cap of $40.71 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 2.81 and a beta of 0.34. 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 company’s fifty day moving average price is $112.04 and its 200-day moving average price is $104.39.

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

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th will be issued a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Wednesday, May 13th. Consolidated Edison’s payout ratio is 62.83%.

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.