Engineers Gate Manager LP Cuts Stock Holdings in Consolidated Edison Inc $ED

Key Points

• Engineers Gate Manager LP cut its Consolidated Edison stake by 79.7% in the second quarter, selling 52,580 shares and retaining 13,358 shares valued at approximately $1.48 million. Institutional investors collectively own 66.29% of the company.
• Consolidated Edison exceeded quarterly expectations, reporting $0.83 EPS versus the $0.76 consensus and $4.07 billion in revenue versus the $3.60 billion estimate. Management provided fiscal 2026 EPS guidance of $6.00–$6.20.
• The company pays an annualized $3.55 dividend per share, yielding about 3.4%. Analyst sentiment remains cautious, with a consensus “Reduce” rating and an average price target of $108.93.

Engineers Gate Manager LP reduced its stake in Consolidated Edison Inc (NYSE:ED - Free Report) by 79.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,358 shares of the utilities provider's stock after selling 52,580 shares during the period. Engineers Gate Manager LP's holdings in Consolidated Edison were worth $1,478,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Basepoint Wealth LLC bought a new stake in shares of Consolidated Edison in the fourth quarter worth about $26,000. Sachetta LLC grew its holdings in 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 buying an additional 102 shares in the last quarter. Aberdeen Wealth Management LLC bought a new stake in Consolidated Edison in the 2nd quarter worth approximately $27,000. Keating Financial Advisory Services Inc. bought a new stake in Consolidated Edison in the 2nd quarter worth approximately $30,000. Finally, Godfrey Financial Associates Inc. bought a new position in shares of Consolidated Edison during the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors own 66.29% of the company's stock.

Consolidated Edison Stock Performance

Shares of NYSE:ED opened at $105.48 on Thursday. The company has a market capitalization of $39.01 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 3.64 and a beta of 0.27. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $116.23. The firm's 50-day moving average is $108.87 and its 200 day moving average is $109.50. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter last year, the firm earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Research analysts predict that Consolidated Edison Inc will post 6.1 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Wednesday, August 19th were paid a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Wednesday, August 19th. Consolidated Edison's dividend payout ratio (DPR) is currently 58.29%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of Consolidated Edison from $106.00 to $108.00 and gave the company an "equal weight" rating in a research note on Friday, August 7th. Evercore restated a "positive" rating and set a $112.00 price objective on shares of Consolidated Edison in a research report on Monday, August 17th. Mizuho set a $114.00 price objective on Consolidated Edison in a research note on Monday, July 27th. Morgan Stanley dropped their target price on Consolidated Edison from $105.00 to $101.00 and set an "underweight" rating for the company in a report on Friday, August 21st. Finally, Argus set a $112.00 target price on Consolidated Edison in a research report on Tuesday, June 23rd. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, Consolidated Edison has a consensus rating of "Reduce" and a consensus price target of $108.93.

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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