Van ECK Associates Corp Increases Stock Holdings in Consolidated Edison Inc $ED

Van ECK Associates Corp increased its stake in shares of Consolidated Edison Inc (NYSE:ED) by 7.2% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 163,899 shares of the utilities provider’s stock after acquiring an additional 11,050 shares during the period. Van ECK Associates Corp’s holdings in Consolidated Edison were worth $18,132,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Consolidated Edison during the second quarter valued at approximately $4,609,491,000. Deutsche Bank AG purchased a new position in shares of Consolidated Edison in the second quarter valued at $749,184,000. Lazard Asset Management LLC boosted its stake in shares of Consolidated Edison by 121,543.9% in the third quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock valued at $599,155,000 after purchasing an additional 5,955,653 shares during the period. Norges Bank acquired a new stake in Consolidated Edison during the 4th quarter valued at $489,806,000. Finally, Legal & General Group Plc acquired a new stake in Consolidated Edison during the 2nd quarter valued at $494,352,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ED shares. KeyCorp cut 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. Barclays lowered their target price on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a research note on Friday, August 7th. Argus set a $112.00 target price on Consolidated Edison in a research report on Tuesday, June 23rd. The Goldman Sachs Group reiterated a “sell” rating and issued a $105.00 price target on shares of Consolidated Edison in a research note on Thursday, May 14th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Consolidated Edison in a report on Tuesday, July 21st. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat, Consolidated Edison currently has an average rating of “Reduce” and an average price target of $108.93.

Consolidated Edison Price Performance

ED opened at $107.40 on Monday. The company has a market capitalization of $39.72 billion, a P/E ratio of 17.64, a PEG ratio of 2.73 and a beta of 0.27. The company has a 50-day moving average of $109.99 and a 200-day moving average of $109.90. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.17 and a current ratio of 1.27. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.23.

Consolidated Edison (NYSE:ED) last posted its quarterly 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 business had revenue of $4.07 billion during 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 last year, the firm earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities analysts expect that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Wednesday, August 19th will be issued a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, August 19th. 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.