Consolidated Edison Inc $ED Shares Bought by Andra AP fonden

Key Points

• Andra AP fonden increased its Consolidated Edison stake by 5,120% during the second quarter, adding 102,400 shares to own 104,400 shares valued at approximately $11.55 million. Institutional investors and hedge funds collectively own 66.29% of the company.
• Analyst sentiment remains cautious, with an average “Reduce” rating and an average price target of $108.67. Recent targets range from $97 to $114, while ED opened at $103.87.
• Consolidated Edison reported quarterly earnings of $0.83 per share, beating estimates of $0.76, and revenue of $4.07 billion. The company also paid a quarterly dividend of $0.8875 per share, representing a 3.4% annualized yield.

Andra AP fonden grew its stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 5,120.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 104,400 shares of the utilities provider's stock after buying an additional 102,400 shares during the period. Andra AP fonden's holdings in Consolidated Edison were worth $11,550,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Security National Bank of SO Dak acquired a new stake in Consolidated Edison in the second quarter valued at approximately $81,000. Bouchey Financial Group Ltd. acquired a new position in Consolidated Edison in the 2nd quarter worth $200,000. Tidal Investments LLC boosted its position in Consolidated Edison by 75.5% in the 2nd quarter. Tidal Investments LLC now owns 35,439 shares of the utilities provider's stock valued at $3,921,000 after buying an additional 15,243 shares during the last quarter. National Pension Service boosted its position in Consolidated Edison by 4.2% in the 2nd quarter. National Pension Service now owns 584,542 shares of the utilities provider's stock valued at $64,668,000 after buying an additional 23,679 shares during the last quarter. Finally, Cidel Asset Management Inc. boosted its position in Consolidated Edison by 6.2% in the 2nd quarter. Cidel Asset Management Inc. now owns 3,711 shares of the utilities provider's stock valued at $411,000 after buying an additional 218 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ED has been the subject of several recent analyst reports. Morgan Stanley lowered their target price on Consolidated Edison from $101.00 to $97.00 and set an "underweight" rating for the company in a research note on Friday, September 18th. Wells Fargo & Company increased their price target on Consolidated Edison from $106.00 to $108.00 and gave the company an "equal weight" rating in a report on Friday, August 7th. Barclays lowered their price objective 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 price objective on Consolidated Edison in a report on Tuesday, June 23rd. Finally, Mizuho set a $114.00 price target on shares of Consolidated Edison in a research report on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Reduce" and an average price target of $108.67.

Consolidated Edison Trading Up 0.0%

NYSE:ED opened at $103.87 on Wednesday. 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 business's 50 day moving average is $108.36 and its two-hundred day moving average is $109.30. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $116.23. The company has a market cap of $38.41 billion, a PE ratio of 17.06, a P/E/G ratio of 3.60 and a beta of 0.27.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.07. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. The company had revenue of $4.07 billion for the quarter, compared to analysts' expectations of $3.60 billion. During the same period 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. On average, analysts predict that Consolidated Edison Inc will post 6.1 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Wednesday, August 19th were issued a dividend of $0.8875 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $3.55 annualized dividend and a dividend yield of 3.4%. Consolidated Edison's dividend payout ratio is 58.29%.

About Consolidated Edison

Consolidated Edison, Inc is an energy delivery holding company headquartered in New York. Through its principal subsidiary, Consolidated Edison Company of New York, Inc, the company provides electric, natural gas and steam service to customers in New York City and Westchester County, New York.

Con Edison also operates Orange and Rockland Utilities, Inc, which supplies electric and natural gas service in parts of southeastern New York and northern New Jersey. Its utility operations include the generation, transmission and distribution of energy, as well as the maintenance of the infrastructure required to serve residential, commercial and industrial customers.

The company traces its roots to energy businesses that began operating in New York during the 19th century and adopted the Consolidated Edison name in the 1930s.

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