Sterling Capital Management LLC Has $1.43 Million Stake in Consolidated Edison Inc $ED

Sterling Capital Management LLC reduced its stake in Consolidated Edison Inc (NYSE:ED) by 42.3% during the 1st quarter, HoldingsChannel reports. The fund owned 12,606 shares of the utilities provider’s stock after selling 9,231 shares during the quarter. Sterling Capital Management LLC’s holdings in Consolidated Edison were worth $1,427,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Consolidated Edison by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 45,636,041 shares of the utilities provider’s stock valued at $4,532,572,000 after purchasing an additional 461,108 shares during the period. State Street Corp boosted its position in shares of Consolidated Edison by 3.6% during the fourth quarter. State Street Corp now owns 24,905,440 shares of the utilities provider’s stock worth $2,473,608,000 after buying an additional 854,868 shares during the period. Lazard Asset Management LLC boosted its position in shares of Consolidated Edison by 3.4% during the fourth quarter. Lazard Asset Management LLC now owns 6,165,594 shares of the utilities provider’s stock worth $612,367,000 after buying an additional 205,041 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Consolidated Edison by 11.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,200,840 shares of the utilities provider’s stock worth $516,549,000 after buying an additional 514,178 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Consolidated Edison during the fourth quarter worth about $489,806,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

NYSE:ED opened at $112.25 on Tuesday. The stock has a market capitalization of $41.37 billion, a PE ratio of 18.90, a P/E/G ratio of 2.84 and a beta of 0.27. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.23. The firm has a fifty day simple moving average of $107.61 and a 200 day simple moving average of $107.34. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results 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 firm had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.22 billion. Consolidated Edison had a return on equity of 8.33% and a net margin of 12.52%.During the same period last year, the company posted $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, research analysts expect that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th were issued a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Wednesday, May 13th. Consolidated Edison’s dividend payout ratio is presently 59.76%.

Analyst Ratings Changes

Several equities research analysts have commented on ED shares. Morgan Stanley restated an “underweight” rating on shares of Consolidated Edison in a research note on Wednesday, June 24th. Barclays decreased 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 note on Monday, May 11th. Mizuho reiterated a “neutral” rating and issued a $105.00 price objective on shares of Consolidated Edison in a report on Tuesday, June 2nd. Argus set a $112.00 price objective on shares of Consolidated Edison in a research report on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. increased their target price 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. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $108.07.

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.