Hsbc Holdings PLC Grows Stock Position in Consolidated Edison Inc $ED

Hsbc Holdings PLC boosted its position in Consolidated Edison Inc (NYSE:ED) by 80.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,529,164 shares of the utilities provider’s stock after buying an additional 683,164 shares during the period. Hsbc Holdings PLC’s holdings in Consolidated Edison were worth $169,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Aberdeen Wealth Management LLC purchased a new position in shares of Consolidated Edison during the 2nd quarter worth approximately $27,000. Sachetta LLC boosted its position in shares of Consolidated Edison by 72.9% during the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 102 shares in the last quarter. JPL Wealth Management LLC acquired a new position in shares of Consolidated Edison during the 3rd quarter worth $26,000. Basepoint Wealth LLC purchased a new position in shares of Consolidated Edison in the 4th quarter valued at about $26,000. Finally, Keating Financial Advisory Services Inc. acquired a new stake in shares of Consolidated Edison in the second quarter valued at about $30,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $107.15 on Wednesday. The business has a fifty day simple moving average of $109.94 and a 200-day simple moving average of $109.91. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $116.23. The company has a market cap of $39.63 billion, a P/E ratio of 17.59, a P/E/G 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 (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. The company had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $3.60 billion. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.During the same quarter in the previous year, the business earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities research analysts forecast that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Wednesday, August 19th will be issued a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 19th. Consolidated Edison’s dividend payout ratio (DPR) is currently 58.29%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. KeyCorp decreased their price objective on shares of Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating on the stock in a report on Thursday, July 23rd. The Goldman Sachs Group reissued a “sell” rating and set a $105.00 price target on shares of Consolidated Edison in a research note on Thursday, May 14th. Wells Fargo & Company lifted their price objective on Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Barclays dropped their price target on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company 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 analysts have rated the stock with a Buy rating, six have given a Hold rating and six have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average target price 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.