Danica Pension Livsforsikringsaktieselskab Takes Position in Consolidated Edison Inc $ED

Danica Pension Livsforsikringsaktieselskab acquired a new position in shares of Consolidated Edison Inc (NYSE:ED) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 101,578 shares of the utilities provider’s stock, valued at approximately $11,238,000.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Consolidated Edison in the second quarter valued at approximately $4,609,491,000. Deutsche Bank AG acquired a new position in Consolidated Edison during the 2nd quarter worth approximately $749,184,000. Lazard Asset Management LLC grew its holdings in Consolidated Edison by 121,543.9% during the 3rd quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock worth $599,155,000 after acquiring an additional 5,955,653 shares in the last quarter. Norges Bank purchased a new stake in shares of Consolidated Edison in the 4th quarter valued at approximately $489,806,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Consolidated Edison in the 2nd quarter valued at approximately $231,014,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ED has been the subject of several recent analyst reports. Evercore reaffirmed a “positive” rating and set a $112.00 price objective on shares of Consolidated Edison in a research report on Monday. Barclays dropped their target price on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a report on Friday, August 7th. Mizuho set a $114.00 price target on Consolidated Edison in a research note on Monday, July 27th. Morgan Stanley reaffirmed an “underweight” rating on shares of Consolidated Edison in a report on Wednesday, July 22nd. Finally, Wells Fargo & Company upped their price objective 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. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $108.80.

Consolidated Edison Stock Performance

Shares of ED opened at $109.13 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 1.04. The firm has a market cap of $40.36 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 2.83 and a beta of 0.27. The company’s 50 day simple moving average is $109.95 and its 200-day simple moving average is $109.88. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $116.23.

Consolidated Edison (NYSE:ED) last announced its 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. 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 for the quarter, compared to analysts’ expectations of $3.60 billion. During the same period in the previous year, the company posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, equities analysts predict that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Wednesday, August 19th will be paid a $0.8875 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $3.55 dividend on an annualized basis and a yield of 3.3%. 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.