Principle Wealth Partners LLC acquired a new stake in Consolidated Edison Inc (NYSE:ED – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,338 shares of the utilities provider’s stock, valued at approximately $591,000.
Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Consolidated Edison by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 45,636,041 shares of the utilities provider’s stock valued at $4,532,572,000 after buying an additional 461,108 shares during the last quarter. 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 acquiring an additional 854,868 shares during the last quarter. Lazard Asset Management LLC grew its stake in Consolidated Edison by 14.8% during the first quarter. Lazard Asset Management LLC now owns 7,075,838 shares of the utilities provider’s stock valued at $800,843,000 after acquiring an additional 910,244 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in 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 valued at $516,549,000 after acquiring an additional 514,178 shares in the last quarter. Finally, Norges Bank bought a new stake in Consolidated Edison in the 4th quarter valued at $489,806,000. Institutional investors own 66.29% of the company’s stock.
Analyst Ratings Changes
Several research analysts have commented on the stock. KeyCorp dropped their price objective on shares of Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating for the company in a report on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Consolidated Edison in a research report on Tuesday, July 21st. Evercore restated a “positive” rating and set a $112.00 price target on shares of Consolidated Edison in a report on Monday. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $105.00 price objective on shares of Consolidated Edison in a research note on Thursday, May 14th. Finally, Barclays decreased their price objective on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a report on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $108.80.
Consolidated Edison Stock Performance
Consolidated Edison stock opened at $108.91 on Tuesday. The company’s 50-day moving average price is $109.90 and its 200-day moving average price is $109.85. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 1.04. The company has a market cap of $40.28 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 2.83 and a beta of 0.27. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23.
Consolidated Edison (NYSE:ED – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The firm had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.60 billion. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. 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. On average, equities research analysts forecast that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.
Consolidated Edison Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Wednesday, August 19th will be paid a $0.8875 dividend. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 19th. Consolidated Edison’s dividend payout ratio (DPR) is presently 58.29%.
Consolidated Edison Company Profile
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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