Pictet Asset Management Holding SA Increases Position in Consolidated Edison Inc $ED

Pictet Asset Management Holding SA raised its holdings in Consolidated Edison Inc (NYSE:ED) by 84.0% in the first quarter, Holdings Channel reports. The fund owned 391,827 shares of the utilities provider’s stock after buying an additional 178,877 shares during the period. Pictet Asset Management Holding SA’s holdings in Consolidated Edison were worth $44,347,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of ED. JPL Wealth Management LLC purchased a new stake in shares of Consolidated Edison in the third quarter valued at approximately $26,000. Basepoint Wealth LLC acquired a new stake in shares of Consolidated Edison in the fourth quarter valued at approximately $26,000. Aventura Private Wealth LLC purchased a new position in Consolidated Edison during the fourth quarter worth approximately $27,000. Westfuller Advisors LLC purchased a new position in Consolidated Edison during the fourth quarter worth approximately $27,000. Finally, Dorato Capital Management acquired a new position in Consolidated Edison during the fourth quarter worth $28,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Price Performance

NYSE:ED opened at $110.73 on Wednesday. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $116.23. The stock’s fifty day moving average is $107.62 and its two-hundred day moving average is $107.44. The company has a market capitalization of $40.81 billion, a P/E ratio of 18.64, a P/E/G ratio of 2.85 and a beta of 0.27. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, May 7th. The utilities provider reported $2.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.10). Consolidated Edison had a return on equity of 8.33% and a net margin of 12.52%.The business had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period in the previous year, the business posted $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities analysts expect that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th were paid 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 payout ratio is 59.76%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Morgan Stanley restated an “underweight” rating on shares of Consolidated Edison in a report on Wednesday, June 24th. JPMorgan Chase & Co. boosted their price target on shares of Consolidated Edison from $107.00 to $113.00 and gave the company an “underweight” rating in a research report on Thursday, March 12th. Weiss Ratings raised shares of Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. KeyCorp upped their price objective on shares of Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a report on Tuesday, April 21st. Finally, Evercore set a $116.00 price objective on shares of Consolidated Edison in a research report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Consolidated Edison presently has a consensus 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.