Consolidated Edison Inc $ED Shares Sold by Amundi

Key Points

• Amundi reduced its Consolidated Edison stake by 26.1% in the second quarter, selling 1,012,366 shares and retaining 2.86 million shares worth approximately $316.4 million. Institutional investors collectively own 66.29% of the company.
• Con Edison reported quarterly earnings of $0.83 per share, beating estimates of $0.76, while revenue reached $4.07 billion versus the $3.60 billion consensus forecast.
• The company declared a quarterly dividend of $0.8875, equivalent to a 3.3% annualized yield. Analysts maintain a consensus “Reduce” rating, with a target price of $108.93 compared with the stock’s $107.26 opening price.

Amundi cut its stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 26.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,860,038 shares of the utilities provider's stock after selling 1,012,366 shares during the period. Amundi owned approximately 0.77% of Consolidated Edison worth $316,412,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Revolve Wealth Partners LLC lifted its position in shares of Consolidated Edison by 13.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider's stock valued at $332,000 after acquiring an additional 441 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Consolidated Edison by 42.1% in the first quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider's stock valued at $993,000 after purchasing an additional 2,659 shares in the last quarter. Woodline Partners LP grew its holdings in shares of Consolidated Edison by 40.7% during the first quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider's stock valued at $3,237,000 after buying an additional 8,468 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Consolidated Edison during the second quarter valued at $3,256,000. Finally, Baird Financial Group Inc. grew its stake in Consolidated Edison by 2.1% during the 2nd quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider's stock valued at $1,473,000 after acquiring an additional 296 shares in the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Stock Down 0.0%

ED stock opened at $107.26 on Tuesday. 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 firm has a market cap of $39.67 billion, a PE ratio of 17.61, a PEG ratio of 3.71 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 company has a fifty day simple moving average of $109.68 and a 200 day simple moving average of $109.73.

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. The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.60 billion. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.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. Sell-side analysts anticipate that Consolidated Edison Inc will post 6.1 EPS 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 issued 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 payout ratio is 58.29%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ED. Morgan Stanley dropped their target price on Consolidated Edison from $105.00 to $101.00 and set an "underweight" rating on the stock in a report on Friday, August 21st. Weiss Ratings restated a "buy (b)" rating on shares of Consolidated Edison in a report on Tuesday, July 21st. KeyCorp decreased their target price on shares of Consolidated Edison from $97.00 to $94.00 and set an "underweight" rating for the company in a research note on Thursday, July 23rd. Evercore reiterated a "positive" rating and set a $112.00 price objective on shares of Consolidated Edison in a report on Monday, August 17th. Finally, Wells Fargo & Company lifted their price objective on Consolidated Edison from $106.00 to $108.00 and gave the company an "equal weight" rating in a research report on Friday, August 7th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, Consolidated Edison has an average rating of "Reduce" and a consensus target price of $108.93.

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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