Odyssean LLC Has $2.08 Million Stock Position in Consolidated Edison Inc $ED

Odyssean LLC increased its position in shares of Consolidated Edison Inc (NYSE:ED) by 58.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 18,767 shares of the utilities provider’s stock after buying an additional 6,891 shares during the quarter. Odyssean LLC’s holdings in Consolidated Edison were worth $2,076,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. acquired a new position in Consolidated Edison during the 2nd quarter worth $4,609,491,000. State Street Corp grew its position in shares of Consolidated Edison by 3.6% in the fourth quarter. State Street Corp now owns 24,905,440 shares of the utilities provider’s stock valued at $2,473,608,000 after purchasing an additional 854,868 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of Consolidated Edison by 14.8% in the first quarter. Lazard Asset Management LLC now owns 7,075,838 shares of the utilities provider’s stock valued at $800,843,000 after purchasing an additional 910,244 shares during the last quarter. Deutsche Bank AG bought a new position in shares of Consolidated Edison in the second quarter worth about $749,184,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Consolidated Edison by 11.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,200,840 shares of the utilities provider’s stock worth $516,549,000 after purchasing an additional 514,178 shares during the period. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ED. Argus set a $112.00 target price on Consolidated Edison in a research note on Tuesday, June 23rd. KeyCorp dropped their price target on Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating on the stock in a research report on Thursday, July 23rd. 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. Wells Fargo & Company increased their price objective on Consolidated Edison from $106.00 to $108.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Finally, Mizuho set a $114.00 price objective on shares of Consolidated Edison in a research note on Monday, July 27th. Three investment 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $108.93.

Consolidated Edison Stock Down 1.4%

ED stock opened at $107.26 on Friday. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 1.04. The company has a market cap of $39.67 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 3.77 and a beta of 0.27. The business’s 50-day simple moving average is $109.78 and its 200 day simple moving average is $109.80.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 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 firm had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $3.60 billion. During the same quarter in the prior year, the firm posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, research analysts anticipate that Consolidated Edison Inc will post 6.1 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders 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 dividend yield of 3.3%. Consolidated Edison’s dividend payout ratio is currently 58.29%.

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.