Commerzbank Aktiengesellschaft FI Makes New $1.23 Million Investment in Consolidated Edison Inc $ED

Key Points

• Commerzbank Aktiengesellschaft FI purchased 11,154 shares of Consolidated Edison during the second quarter, valued at approximately $1.23 million. Institutional investors and hedge funds collectively own 66.29% of the utility’s stock.
• Analyst sentiment remains cautious, with three Buy, six Hold, and six Sell ratings producing a consensus “Reduce” rating and an average price target of $108.80.
• Consolidated Edison exceeded quarterly expectations, reporting $0.83 in earnings per share versus a $0.76 estimate and $4.07 billion in revenue. The company also declared a quarterly dividend of $0.8875, equivalent to a 3.3% annualized yield.

Commerzbank Aktiengesellschaft FI bought a new stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 11,154 shares of the utilities provider's stock, valued at approximately $1,234,000.

Other large investors also recently made changes to their positions in the company. QRG Capital Management Inc. grew its holdings in shares of Consolidated Edison by 16.9% during the 1st quarter. QRG Capital Management Inc. now owns 204,989 shares of the utilities provider's stock valued at $23,201,000 after acquiring an additional 29,635 shares in the last quarter. North Dakota State Investment Board purchased a new stake in shares of Consolidated Edison during the fourth quarter worth $1,228,000. Los Angeles Capital Management LLC raised its holdings in shares of Consolidated Edison by 9.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 253,230 shares of the utilities provider's stock worth $24,865,000 after acquiring an additional 20,972 shares in the last quarter. M3 Wealth Management LLC acquired a new stake in Consolidated Edison during the fourth quarter valued at $1,380,000. Finally, Arbejdsmarkedets Tillaegspension acquired a new stake in Consolidated Edison during the fourth quarter valued at $24,109,000. Institutional investors and hedge funds own 66.29% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $105.00 target price on shares of Consolidated Edison in a research report on Thursday, May 14th. Evercore reiterated a "positive" rating and set a $112.00 price target on shares of Consolidated Edison in a report on Monday. Morgan Stanley reissued an "underweight" rating on shares of Consolidated Edison in a research note on Wednesday, July 22nd. Wells Fargo & Company increased 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. Finally, Barclays cut their price objective on shares of Consolidated Edison from $112.00 to $106.00 and set an "underweight" rating on the stock in a research report on Friday, August 7th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price of $108.80.

Consolidated Edison Trading Up 0.1%

Shares of NYSE:ED opened at $109.13 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $40.36 billion, a PE ratio of 17.92, a P/E/G ratio of 2.83 and a beta of 0.27. Consolidated Edison Inc has a 1 year low of $94.96 and a 1 year high of $116.23. The firm has a fifty day moving average price of $109.95 and a 200 day moving average price of $109.88.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $3.60 billion. During the same period last year, the company 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 6.09 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. Investors of record on Wednesday, August 19th will be paid 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 of this dividend is Wednesday, August 19th. Consolidated Edison's dividend payout ratio (DPR) is presently 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.

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