Hsbc Holdings PLC Increases Stake in Consolidated Edison Inc $ED

Hsbc Holdings PLC raised its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 80.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,529,164 shares of the utilities provider’s stock after buying an additional 683,164 shares during the quarter. Hsbc Holdings PLC owned about 0.41% of Consolidated Edison worth $169,425,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. QRG Capital Management Inc. grew its holdings in shares of Consolidated Edison by 16.9% in the first quarter. QRG Capital Management Inc. now owns 204,989 shares of the utilities provider’s stock valued at $23,201,000 after purchasing an additional 29,635 shares during the period. North Dakota State Investment Board acquired a new stake in shares of Consolidated Edison during the 4th quarter worth approximately $1,228,000. Los Angeles Capital Management LLC increased its holdings in shares of Consolidated Edison by 9.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 253,230 shares of the utilities provider’s stock worth $24,865,000 after buying an additional 20,972 shares during the last quarter. M3 Wealth Management LLC purchased a new stake in shares of Consolidated Edison during the 4th quarter valued at approximately $1,380,000. Finally, Arbejdsmarkedets Tillaegspension acquired a new position in Consolidated Edison in the fourth quarter valued at approximately $24,109,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Trading Down 0.5%

NYSE ED opened at $107.15 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.27 and a quick ratio of 1.17. The firm’s fifty day moving average price is $109.94 and its 200 day moving average price is $109.91. The company has a market capitalization of $39.63 billion, a price-to-earnings ratio of 17.59, a price-to-earnings-growth ratio of 2.73 and a beta of 0.27. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $116.23.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter in the prior year, the firm posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, sell-side analysts expect that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Wednesday, August 19th will be issued 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 is presently 58.29%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ED shares. The Goldman Sachs Group reiterated a “sell” rating and set a $105.00 price target on shares of Consolidated Edison in a report on Thursday, May 14th. Barclays decreased their price objective on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a report on Friday, August 7th. Morgan Stanley decreased their price target on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a research note on Friday, August 21st. Evercore reaffirmed a “positive” rating and issued a $112.00 target price on shares of Consolidated Edison in a research report on Monday, August 17th. Finally, KeyCorp cut their price target on shares of 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 investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $108.93.

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.