Corient Private Wealth LP Takes Position in Consolidated Edison Inc $ED

Key Points

• Corient Private Wealth LP acquired 229,747 shares of Consolidated Edison in the second quarter, valued at approximately $25.4 million. Institutional investors collectively own 66.29% of the company.
• Analyst sentiment remains mixed, with a consensus “Reduce” rating and an average price target of $108.93. Shares opened at $107.40, while recent targets range from $105 to $112.
• Consolidated Edison beat quarterly earnings estimates, reporting $0.83 in EPS and $4.07 billion in revenue, and declared a quarterly dividend of $0.8875 per share, equating to a 3.3% annualized yield.

Corient Private Wealth LP acquired a new stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 229,747 shares of the utilities provider's stock, valued at approximately $25,422,000. Corient Private Wealth LP owned 0.06% of Consolidated Edison at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GW&K Investment Management LLC boosted its position in shares of Consolidated Edison by 28.5% in the fourth quarter. GW&K Investment Management LLC now owns 419 shares of the utilities provider's stock worth $42,000 after purchasing an additional 93 shares during the period. bLong Financial LLC increased its stake in shares of Consolidated Edison by 1.3% in the fourth quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider's stock worth $772,000 after purchasing an additional 100 shares in the last quarter. Sachetta LLC raised its position in shares of Consolidated Edison by 72.9% during the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 102 shares during the period. Frank Rimerman Advisors LLC raised its position in shares of Consolidated Edison by 1.3% during the 1st quarter. Frank Rimerman Advisors LLC now owns 8,275 shares of the utilities provider's stock valued at $937,000 after purchasing an additional 105 shares during the period. Finally, Venture Visionary Partners LLC lifted its stake in shares of Consolidated Edison by 2.0% during the 4th quarter. Venture Visionary Partners LLC now owns 5,606 shares of the utilities provider's stock valued at $557,000 after buying an additional 108 shares in the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ED has been the subject of a number of analyst reports. Wells Fargo & Company increased their price target on Consolidated Edison from $106.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Friday, August 7th. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $105.00 price objective on shares of Consolidated Edison in a research note on Thursday, May 14th. Barclays cut their target price on Consolidated Edison from $112.00 to $106.00 and set an "underweight" rating for the company in a research report on Friday, August 7th. Weiss Ratings reissued a "buy (b)" rating on shares of Consolidated Edison in a research note on Tuesday, July 21st. Finally, Evercore reissued a "positive" rating and issued a $112.00 price target on shares of Consolidated Edison in a report on Monday, August 17th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have given a Sell rating to the company's stock. According to data from MarketBeat.com, Consolidated Edison presently has a consensus rating of "Reduce" and an average target price of $108.93.

Consolidated Edison Stock Up 0.7%

Shares of ED stock opened at $107.40 on Friday. The company's fifty day simple moving average is $109.99 and its two-hundred day simple moving average is $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 $39.72 billion, a P/E ratio of 17.64, a PEG ratio of 2.71 and a beta of 0.27. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.07. The firm had revenue of $4.07 billion during 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 quarter last year, the business posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Analysts predict that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Wednesday, August 19th will be given a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, August 19th. Consolidated Edison's dividend payout ratio is currently 58.29%.

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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