Invst LLC Acquires New Position in Consolidated Edison Inc $ED

Invst LLC acquired a new stake in shares of Consolidated Edison Inc (NYSE:ED) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,441 shares of the utilities provider’s stock, valued at approximately $823,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Consolidated Edison by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 45,636,041 shares of the utilities provider’s stock valued at $4,532,572,000 after purchasing an additional 461,108 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Consolidated Edison during the 2nd quarter worth $4,609,491,000. State Street Corp raised its holdings in shares of Consolidated Edison by 3.6% during the 4th quarter. State Street Corp now owns 24,905,440 shares of the utilities provider’s stock worth $2,473,608,000 after buying an additional 854,868 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of Consolidated Edison by 14.8% during the 1st quarter. Lazard Asset Management LLC now owns 7,075,838 shares of the utilities provider’s stock worth $800,843,000 after buying an additional 910,244 shares during the last quarter. Finally, Deutsche Bank AG bought a new stake in shares of Consolidated Edison during the 2nd quarter worth $749,184,000. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Performance

NYSE ED opened at $107.15 on Wednesday. The company has a market capitalization of $39.63 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 2.73 and a beta of 0.27. 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 Inc has a twelve month low of $94.96 and a twelve month high of $116.23. The stock has a fifty day simple moving average of $109.94 and a 200 day simple moving average of $109.91.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.76 by $0.07. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.The firm had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $3.60 billion. During the same period in the previous year, the business earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Sell-side analysts expect that Consolidated Edison Inc will post 6.09 EPS 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 $0.8875 dividend. 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 presently 58.29%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Morgan Stanley decreased their target price on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a research report on Friday, August 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Consolidated Edison in a report on Tuesday, July 21st. The Goldman Sachs Group restated a “sell” rating and issued a $105.00 price target on shares of Consolidated Edison in a research note on Thursday, May 14th. Mizuho set a $114.00 price target on shares of Consolidated Edison in a report on Monday, July 27th. Finally, Barclays lowered their price objective on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a research report on Friday, August 7th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently 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.