Nykredit A S Takes $24.80 Million Position in Consolidated Edison Inc $ED

Nykredit A S purchased a new position in shares of Consolidated Edison Inc (NYSE:ED) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 224,141 shares of the utilities provider’s stock, valued at approximately $24,797,000.

Other large investors have also recently added to or reduced their stakes in the company. GW&K Investment Management LLC increased its position in Consolidated Edison by 28.5% during the 4th quarter. GW&K Investment Management LLC now owns 419 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 93 shares during the period. bLong Financial LLC lifted its holdings in shares of Consolidated Edison by 1.3% in the 4th quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider’s stock valued at $772,000 after buying an additional 100 shares during the period. Sachetta LLC lifted its holdings in shares of Consolidated Edison by 72.9% in the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock valued at $27,000 after buying an additional 102 shares during the period. Frank Rimerman Advisors LLC boosted its stake in shares of Consolidated Edison by 1.3% in the first quarter. Frank Rimerman Advisors LLC now owns 8,275 shares of the utilities provider’s stock valued at $937,000 after buying an additional 105 shares in the last quarter. Finally, Venture Visionary Partners LLC grew its holdings in Consolidated Edison by 2.0% during the fourth quarter. Venture Visionary Partners LLC now owns 5,606 shares of the utilities provider’s stock worth $557,000 after acquiring an additional 108 shares during the period. 66.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ED shares. Argus set a $112.00 price objective on Consolidated Edison in a research report on Tuesday, June 23rd. Evercore reaffirmed a “positive” rating and set a $112.00 price target on shares of Consolidated Edison in a research note on Monday, August 17th. Barclays cut their price target on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a report on Friday, August 7th. KeyCorp reduced their price objective on shares of Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating for the company in a research note on Thursday, July 23rd. Finally, Mizuho set a $114.00 price objective on shares of Consolidated Edison in a report on Monday, July 27th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $108.93.

Consolidated Edison Stock Performance

NYSE ED opened at $108.68 on Friday. The business has a 50 day moving average price of $109.87 and a 200 day moving average price of $109.82. The company has a market capitalization of $40.19 billion, a P/E ratio of 17.85, a PEG ratio of 3.73 and a beta of 0.27. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.23. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.27 and a quick ratio of 1.17.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $3.60 billion. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.During the same period in the previous year, the business earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Sell-side analysts expect that Consolidated Edison Inc will post 6.1 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

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