Centaurus Financial Inc. bought a new stake in Consolidated Edison Inc (NYSE:ED – Free Report) during the 2nd quarter, Holdings Channel.com reports. The firm bought 6,331 shares of the utilities provider’s stock, valued at approximately $700,000.
A number of other large investors have also recently bought and sold shares of the company. QRG Capital Management Inc. raised its holdings in shares of Consolidated Edison by 16.9% during the 1st quarter. QRG Capital Management Inc. now owns 204,989 shares of the utilities provider’s stock worth $23,201,000 after acquiring an additional 29,635 shares during the period. North Dakota State Investment Board purchased a new stake in shares of Consolidated Edison in the fourth quarter valued at about $1,228,000. Los Angeles Capital Management LLC increased its position in Consolidated Edison by 9.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 253,230 shares of the utilities provider’s stock worth $24,865,000 after purchasing an additional 20,972 shares during the last quarter. M3 Wealth Management LLC acquired a new stake in Consolidated Edison during the fourth quarter worth about $1,380,000. Finally, Arbejdsmarkedets Tillaegspension purchased a new position in Consolidated Edison during the fourth quarter worth about $24,109,000. Institutional investors and hedge funds own 66.29% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have weighed in on the stock. Barclays decreased their target price on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a report on Friday, August 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Consolidated Edison in a report on Tuesday, July 21st. Morgan Stanley lowered their price objective on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a research report on Friday, August 21st. KeyCorp decreased their price target on Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating on the stock in a research note on Thursday, July 23rd. Finally, Wells Fargo & Company increased their price target on Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $108.93.
Consolidated Edison Stock Performance
Shares of ED stock opened at $107.40 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.17 and a current ratio of 1.27. The firm has a market cap of $39.72 billion, a P/E ratio of 17.64, a P/E/G ratio of 2.71 and a beta of 0.27. The firm’s 50 day moving average price is $109.99 and its 200-day moving average price is $109.88. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23.
Consolidated Edison (NYSE:ED – Get Free Report) last posted its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.07. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. The firm had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter last year, the firm earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, equities research analysts predict that Consolidated Edison Inc will post 6.09 EPS for the current year.
Consolidated Edison Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Wednesday, August 19th will be issued a $0.8875 dividend. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Wednesday, August 19th. Consolidated Edison’s payout ratio is currently 58.29%.
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.
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