BlackRock Inc. Purchases Shares of 41,665,829 Consolidated Edison Inc $ED

Key Points

• BlackRock acquired 41.7 million shares of Consolidated Edison, valued at approximately $4.61 billion, giving it an 11.31% stake. Institutional investors and hedge funds collectively own 66.29% of the company.
• Consolidated Edison beat quarterly earnings expectations, reporting $0.83 EPS versus the $0.76 consensus and $4.07 billion in revenue versus $3.60 billion expected. Management maintained full-year 2026 guidance of $6.00–$6.20 EPS.
• The company declared a quarterly dividend of $0.8875, or $3.55 annually, representing a 3.3% yield. Analyst sentiment remains cautious, with an average “Reduce” rating and a consensus price target of $108.80, below the reported $109.13 share price.

BlackRock Inc. bought a new stake in Consolidated Edison Inc (NYSE:ED - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 41,665,829 shares of the utilities provider's stock, valued at approximately $4,609,491,000. BlackRock Inc. owned about 11.31% of Consolidated Edison at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ED. Deutsche Bank AG purchased a new position in Consolidated Edison during the second quarter worth about $749,184,000. Lazard Asset Management LLC boosted its holdings in Consolidated Edison by 121,543.9% in the 3rd 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 in the last quarter. Norges Bank purchased a new stake in Consolidated Edison in the 4th quarter valued at approximately $489,806,000. Bank of New York Mellon Corp acquired a new position in Consolidated Edison during the 2nd quarter worth approximately $231,014,000. Finally, Amundi raised its stake in shares of Consolidated Edison by 66.2% during the 1st quarter. Amundi now owns 3,872,404 shares of the utilities provider's stock worth $438,272,000 after buying an additional 1,543,069 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

NYSE ED opened at $109.13 on Wednesday. The company has a 50-day moving average price of $109.95 and a two-hundred day moving average price of $109.88. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $116.23. The stock has a market cap of $40.36 billion, a price-to-earnings ratio of 17.92, a price-to-earnings-growth ratio of 2.83 and a beta of 0.27. 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 (NYSE:ED - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. The company had revenue of $4.07 billion for 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 prior year, the company earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Analysts forecast that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ED. Argus set a $112.00 price target on shares of Consolidated Edison in a research report on Tuesday, June 23rd. Weiss Ratings reissued a "buy (b)" rating on shares of Consolidated Edison in a report on Tuesday, July 21st. Morgan Stanley restated an "underweight" rating on shares of Consolidated Edison in a research report on Wednesday, July 22nd. Wells Fargo & Company lifted their target price on shares of Consolidated Edison from $106.00 to $108.00 and gave the stock an "equal weight" rating in a research report on Friday, August 7th. Finally, The Goldman Sachs Group reaffirmed a "sell" rating and issued a $105.00 price target on shares of Consolidated Edison in a report on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $108.80.

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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