Denali Advisors LLC Takes $1.04 Million Position in Consolidated Edison Inc $ED

Denali Advisors LLC acquired a new position in Consolidated Edison Inc (NYSE:ED) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 9,412 shares of the utilities provider’s stock, valued at approximately $1,041,000.

A number of other institutional investors also recently bought and sold shares of ED. BlackRock Inc. purchased a new position in Consolidated Edison during the second quarter valued at $4,609,491,000. Deutsche Bank AG purchased a new stake in Consolidated Edison in the second quarter worth about $749,184,000. Lazard Asset Management LLC increased its position in Consolidated Edison by 121,543.9% in the third quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock worth $599,155,000 after buying an additional 5,955,653 shares in the last quarter. Norges Bank bought a new position in shares of Consolidated Edison in the fourth quarter worth about $489,806,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Consolidated Edison in the second quarter worth about $231,014,000. 66.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ED shares. Argus set a $112.00 price objective on Consolidated Edison in a research note on Tuesday, June 23rd. Morgan Stanley reaffirmed an “underweight” rating on shares of Consolidated Edison in a report on Wednesday, July 22nd. Barclays dropped their price objective 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. Wells Fargo & Company increased their target price on Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Finally, KeyCorp decreased their target price 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. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat, Consolidated Edison presently has a consensus rating of “Reduce” and an average price target of $108.80.

Consolidated Edison Stock Up 0.3%

Shares of ED stock opened at $108.33 on Friday. The stock has a market cap of $40.06 billion, a P/E ratio of 17.79, a PEG ratio of 2.80 and a beta of 0.27. 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. The company’s fifty day simple moving average is $109.99 and its two-hundred day simple moving average is $109.91.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.76 by $0.07. The business 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 in the prior year, the firm earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Analysts predict that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

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

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.