Cornerstone Capital Inc. Purchases New Holdings in Consolidated Edison Inc $ED

Cornerstone Capital Inc. acquired a new position in Consolidated Edison Inc (NYSE:ED) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 6,957 shares of the utilities provider’s stock, valued at approximately $770,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ED. Ballast Inc. raised its stake in Consolidated Edison by 23.5% during the 2nd quarter. Ballast Inc. now owns 20,525 shares of the utilities provider’s stock valued at $2,271,000 after purchasing an additional 3,909 shares during the period. Wedge Capital Management L L P NC purchased a new position in shares of Consolidated Edison during the second quarter valued at $14,762,000. Tema ETFs LLC grew its holdings in shares of Consolidated Edison by 21.5% during the second quarter. Tema ETFs LLC now owns 7,704 shares of the utilities provider’s stock valued at $852,000 after buying an additional 1,365 shares in the last quarter. Fiduciary Financial Group LLC raised its position in Consolidated Edison by 9.4% during the second quarter. Fiduciary Financial Group LLC now owns 3,476 shares of the utilities provider’s stock valued at $385,000 after buying an additional 298 shares during the period. Finally, G&S Capital LLC raised its position in Consolidated Edison by 3.8% during the second quarter. G&S Capital LLC now owns 9,817 shares of the utilities provider’s stock valued at $1,086,000 after buying an additional 359 shares during the period. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ED has been the subject of a number of research reports. Wells Fargo & Company lifted their target price on Consolidated Edison from $106.00 to $108.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Consolidated Edison in a research report on Tuesday, July 21st. Argus set a $112.00 price target on shares of Consolidated Edison in a report on Tuesday, June 23rd. Morgan Stanley reaffirmed an “underweight” rating on shares of Consolidated Edison in a research report on Wednesday, July 22nd. Finally, Evercore set a $116.00 price objective on shares of Consolidated Edison in a research note on Monday, May 11th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $109.07.

Consolidated Edison Stock Performance

Shares of ED stock opened at $108.73 on Friday. Consolidated Edison Inc has a fifty-two week low of $94.96 and a fifty-two week high of $116.23. The stock’s 50-day moving average is $109.81 and its two-hundred day moving average is $109.79. 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 has a market cap of $40.21 billion, a P/E ratio of 17.85, a PEG ratio of 2.81 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results 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 return on equity of 8.44% and a net margin of 12.53%.The business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $3.60 billion. During the same period in the previous year, the company 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 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently announced 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 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.