Corient Private Wealth LP Has $21.07 Million Stock Position in Consolidated Edison Inc $ED

Key Points

• Corient Private Wealth cut its Consolidated Edison stake by 27.4% in the second quarter, selling 71,761 shares and retaining 190,497 shares valued at approximately $21.07 million. Institutional investors collectively own 66.29% of the company.
• Analyst sentiment is cautious, with a consensus rating of “Reduce” and an average price target of $108.93; ratings include three Buys, six Holds, and six Sells.
• Consolidated Edison exceeded quarterly expectations, reporting $0.83 in EPS and $4.07 billion in revenue, while maintaining a quarterly dividend of $0.8875, equivalent to a 3.4% annualized yield.

Corient Private Wealth LP lowered its holdings in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 27.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 190,497 shares of the utilities provider's stock after selling 71,761 shares during the period. Corient Private Wealth LP owned 0.05% of Consolidated Edison worth $21,075,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. California State Teachers Retirement System boosted its position in Consolidated Edison by 13,703.3% during the second quarter. California State Teachers Retirement System now owns 87,936,136 shares of the utilities provider's stock worth $9,728,375,000 after purchasing an additional 87,299,071 shares during the period. BlackRock Inc. acquired a new position in Consolidated Edison in the 2nd quarter valued at about $4,609,491,000. Lazard Asset Management LLC raised its holdings in Consolidated Edison by 14.8% in the 1st quarter. Lazard Asset Management LLC now owns 7,075,838 shares of the utilities provider's stock valued at $800,843,000 after acquiring an additional 910,244 shares during the period. Deutsche Bank AG bought a new position in Consolidated Edison in the 2nd quarter valued at about $749,184,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Consolidated Edison by 7.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,847,672 shares of the utilities provider's stock worth $536,298,000 after acquiring an additional 353,000 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ED. Evercore restated a "positive" rating and set a $112.00 price objective on shares of Consolidated Edison in a report on Monday, August 17th. Barclays dropped their price target on Consolidated Edison from $112.00 to $106.00 and set an "underweight" rating for the company in a report on Friday, August 7th. Weiss Ratings restated a "buy (b)" rating on shares of Consolidated Edison in a research note on Tuesday, July 21st. Mizuho set a $114.00 price objective on Consolidated Edison in a research report on Monday, July 27th. Finally, KeyCorp dropped their target price on Consolidated Edison from $97.00 to $94.00 and set an "underweight" rating for the company in a report on Thursday, July 23rd. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have given a Sell rating to the company's stock. According to data from MarketBeat.com, Consolidated Edison has a consensus rating of "Reduce" and an average target price of $108.93.

Consolidated Edison Stock Performance

Shares of NYSE:ED opened at $105.83 on Tuesday. The company's 50 day simple moving average is $109.15 and its 200 day simple moving average is $109.58. The stock has a market capitalization of $39.14 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 3.69 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 debt-to-equity ratio of 1.04, a current ratio of 1.27 and a quick ratio of 1.17.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.07. The company had revenue of $4.07 billion during 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 previous year, the firm earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, research analysts predict that Consolidated Edison Inc will post 6.1 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

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. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $3.55 annualized dividend and a yield of 3.4%. Consolidated Edison's dividend payout ratio is presently 58.29%.

Consolidated Edison Profile

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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