Danske Bank A S Buys New Shares in Consolidated Edison Inc $ED

Danske Bank A S purchased a new stake in Consolidated Edison Inc (NYSE:ED) in the second quarter, HoldingsChannel reports. The fund purchased 789,173 shares of the utilities provider’s stock, valued at approximately $87,306,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Basepoint Wealth LLC bought a new position in shares of Consolidated Edison during the 4th quarter worth about $26,000. JPL Wealth Management LLC bought a new stake in shares of Consolidated Edison in the third quarter valued at about $26,000. Sachetta LLC lifted its stake in shares of Consolidated Edison by 72.9% in the first 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. WealthCollab LLC grew its position in Consolidated Edison by 68.4% during the fourth quarter. WealthCollab LLC now owns 315 shares of the utilities provider’s stock worth $31,000 after buying an additional 128 shares in the last quarter. Finally, Godfrey Financial Associates Inc. acquired a new stake in Consolidated Edison during the fourth quarter worth about $32,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ED shares. Mizuho set a $114.00 price target on Consolidated Edison in a report on Monday, July 27th. The Goldman Sachs Group reissued a “sell” rating and set a $105.00 price objective on shares of Consolidated Edison in a report on Thursday, May 14th. Weiss Ratings restated a “buy (b)” rating on shares of Consolidated Edison in a research report on Tuesday, July 21st. Barclays cut 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. Finally, KeyCorp reduced their target price on Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating for the company in a research report on Thursday, July 23rd. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $108.80.

Consolidated Edison Stock Performance

NYSE:ED opened at $109.13 on Wednesday. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-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 firm has a market capitalization of $40.36 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 2.83 and a beta of 0.27. The firm has a 50-day moving average price of $109.95 and a 200 day moving average price of $109.88.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.The company had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $3.60 billion. 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. Research analysts anticipate that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

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

Consolidated Edison Company 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.