789,173 Shares in Consolidated Edison Inc $ED Acquired by Danske Bank A S

Danske Bank A S acquired a new stake in shares of Consolidated Edison Inc (NYSE:ED) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 789,173 shares of the utilities provider’s stock, valued at approximately $87,306,000. Danske Bank A S owned approximately 0.21% of Consolidated Edison as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Consolidated Edison in the 2nd quarter valued at $4,609,491,000. Deutsche Bank AG acquired a new position in Consolidated Edison during the second quarter worth $749,184,000. Lazard Asset Management LLC raised its holdings in Consolidated Edison by 121,543.9% during the third quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock valued at $599,155,000 after buying an additional 5,955,653 shares in the last quarter. Norges Bank bought a new position in Consolidated Edison during the fourth quarter valued at about $489,806,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Consolidated Edison in the second quarter worth about $231,014,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Trading Up 0.1%

Shares of NYSE:ED opened at $109.13 on Wednesday. The company has a market cap of $40.36 billion, a P/E ratio of 17.92, a P/E/G ratio of 2.83 and a beta of 0.27. The stock’s 50-day moving average is $109.95 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 debt-to-equity ratio of 1.04, a quick ratio of 1.17 and a current ratio of 1.27.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same period in the previous year, the company posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities research analysts predict that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Dividend Announcement

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

Analyst Ratings Changes

Several analysts have recently issued reports on the company. KeyCorp decreased their price target on Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating for the company in a research note on Thursday, July 23rd. The Goldman Sachs Group reissued a “sell” rating and issued a $105.00 price objective on shares of Consolidated Edison in a research note on Thursday, May 14th. Evercore restated a “positive” rating and issued a $112.00 target price on shares of Consolidated Edison in a report on Monday. Morgan Stanley reaffirmed an “underweight” rating on shares of Consolidated Edison in a research report on Wednesday, July 22nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Consolidated Edison in a report on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat.com, Consolidated Edison presently has a consensus rating of “Reduce” and an average target price of $108.80.

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.