60,270 Shares in Consolidated Edison Inc $ED Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. bought a new stake in Consolidated Edison Inc (NYSE:ED) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 60,270 shares of the utilities provider’s stock, valued at approximately $6,768,000.

Other hedge funds have also bought and sold shares of the company. Basepoint Wealth LLC purchased a new stake in shares of Consolidated Edison during the 4th quarter valued at $26,000. JPL Wealth Management LLC purchased a new position in Consolidated Edison in the third quarter worth $26,000. Sachetta LLC grew its position in Consolidated Edison by 72.9% in the first quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 102 shares in the last quarter. Aberdeen Wealth Management LLC bought a new position in Consolidated Edison in the second quarter valued at $27,000. Finally, Keating Financial Advisory Services Inc. bought a new position in Consolidated Edison in the second quarter valued at $30,000. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $107.40 on Friday. The stock has a market cap of $39.72 billion, a PE ratio of 17.64, a PEG ratio of 2.73 and a beta of 0.27. The company’s fifty day moving average is $109.99 and its 200 day moving average is $109.88. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $116.23. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, topping 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 business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.60 billion. During the same period in the previous year, the firm posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Research analysts anticipate that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Wednesday, August 19th will be issued a dividend of $0.8875 per share. The ex-dividend date is Wednesday, August 19th. This represents a $3.55 annualized dividend and a yield of 3.3%. Consolidated Edison’s dividend payout ratio is currently 58.29%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ED. Barclays dropped their price target on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a research note on Friday, August 7th. Argus set a $112.00 price objective on Consolidated Edison in a research report on Tuesday, June 23rd. Mizuho set a $114.00 price objective on Consolidated Edison in a report on Monday, July 27th. The Goldman Sachs Group restated a “sell” rating and issued a $105.00 target price on shares of Consolidated Edison in a research report on Thursday, May 14th. Finally, Wells Fargo & Company upped their target price on Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Three research analysts have rated the stock with a Buy rating, six 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 an average price target of $108.93.

Consolidated Edison 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.