AXQ Capital LP Decreases Stake in Consolidated Edison Inc $ED

Key Points

• AXQ Capital LP cut its Consolidated Edison stake by 81.8% in the second quarter, selling 11,378 shares and retaining 2,531 shares valued at approximately $280,000. Institutional investors collectively own 66.29% of the company.
• Con Edison exceeded quarterly earnings expectations, reporting $0.83 in EPS versus the $0.76 consensus and $4.07 billion in revenue. The company reaffirmed fiscal 2026 EPS guidance of $6.00–$6.20 and declared a quarterly dividend of $0.8875 per share, yielding about 3.3% annually.
• Analyst sentiment remains cautious, with three Buy, six Hold, and six Sell ratings producing a consensus “Reduce” rating and an average price target of $108.93, near the stock’s reported $108.45 opening price.

AXQ Capital LP reduced its stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 81.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,531 shares of the utilities provider's stock after selling 11,378 shares during the period. AXQ Capital LP's holdings in Consolidated Edison were worth $280,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Aberdeen Wealth Management LLC acquired a new position in Consolidated Edison in the 2nd quarter worth approximately $27,000. Sachetta LLC lifted its stake in Consolidated Edison by 72.9% during the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 102 shares during the period. JPL Wealth Management LLC purchased a new stake in shares of Consolidated Edison in the 3rd quarter valued at $26,000. Basepoint Wealth LLC purchased a new stake in shares of Consolidated Edison in the 4th quarter valued at $26,000. Finally, Keating Financial Advisory Services Inc. acquired a new stake in shares of Consolidated Edison in the second quarter worth $30,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Stock Performance

Shares of ED stock opened at $108.45 on Wednesday. The company has a market capitalization of $40.11 billion, a P/E ratio of 17.81, a P/E/G ratio of 3.71 and a beta of 0.27. The business's 50 day moving average is $109.63 and its two-hundred day moving average is $109.71. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $116.23.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 EPS 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 business had revenue of $4.07 billion during the quarter, compared to analysts' expectations 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. Analysts expect that Consolidated Edison Inc will post 6.1 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

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

Wall Street Analysts Forecast Growth

ED has been the subject of a number of research reports. Morgan Stanley decreased their target price on shares of Consolidated Edison from $105.00 to $101.00 and set an "underweight" rating for the company in a research report on Friday, August 21st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Consolidated Edison in a research report on Tuesday, July 21st. Mizuho set a $114.00 price objective on Consolidated Edison in a research note on Monday, July 27th. Argus set a $112.00 price objective on Consolidated Edison in a report on Tuesday, June 23rd. Finally, KeyCorp dropped their target price on Consolidated Edison from $97.00 to $94.00 and set an "underweight" rating on the stock in a report on Thursday, July 23rd. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat.com, Consolidated Edison currently has a consensus rating of "Reduce" and an average price target 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.

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