Consolidated Edison Inc $ED Shares Acquired by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs increased its stake in Consolidated Edison Inc by 8.7%, owning approximately 1.94 million shares valued at over $215 million as of its latest SEC filing.
• Consolidated Edison reported earnings per share (EPS) of $0.67 for the last quarter, beating estimates, and set guidance for FY 2025 EPS between $5.500 - $5.700.
• The company recently declared a $0.85 quarterly dividend, with an annualized yield of 3.5%, while institutional investors hold 66.29% of the stock.

Goldman Sachs Group Inc. raised its stake in Consolidated Edison Inc (NYSE:ED - Free Report) by 8.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,944,993 shares of the utilities provider's stock after acquiring an additional 155,211 shares during the period. Goldman Sachs Group Inc. owned 0.54% of Consolidated Edison worth $215,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of ED. Presima Securities ULC increased its position in Consolidated Edison by 2.2% in the 1st quarter. Presima Securities ULC now owns 10,120 shares of the utilities provider's stock valued at $1,119,000 after acquiring an additional 220 shares during the period. Jones Financial Companies Lllp raised its holdings in Consolidated Edison by 35.8% during the first quarter. Jones Financial Companies Lllp now owns 13,476 shares of the utilities provider's stock worth $1,490,000 after purchasing an additional 3,555 shares during the last quarter. Stance Capital LLC boosted its position in shares of Consolidated Edison by 0.9% in the 1st quarter. Stance Capital LLC now owns 39,635 shares of the utilities provider's stock worth $4,383,000 after buying an additional 372 shares in the last quarter. Raab & Moskowitz Asset Management LLC grew its position in shares of Consolidated Edison by 4.0% in the first quarter. Raab & Moskowitz Asset Management LLC now owns 4,636 shares of the utilities provider's stock valued at $513,000 after purchasing an additional 180 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its position in Consolidated Edison by 1.8% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 43,668 shares of the utilities provider's stock worth $4,829,000 after buying an additional 783 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Mizuho boosted their target price on shares of Consolidated Edison from $107.00 to $112.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. KeyCorp restated an "overweight" rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Morgan Stanley reiterated an "underweight" rating on shares of Consolidated Edison in a report on Thursday, August 21st. Scotiabank raised their price objective on Consolidated Edison from $101.00 to $106.00 and gave the stock a "sector perform" rating in a report on Monday, August 11th. Finally, Barclays lifted their price objective on Consolidated Edison from $101.00 to $107.00 and gave the company an "underweight" rating in a research report on Wednesday, August 13th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Consolidated Edison currently has an average rating of "Hold" and a consensus target price of $105.82.

Consolidated Edison Trading Down 0.2%

NYSE ED traded down $0.16 during mid-day trading on Friday, hitting $97.54. The company's stock had a trading volume of 1,249,436 shares, compared to its average volume of 2,634,055. The firm has a market capitalization of $35.18 billion, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 2.72 and a beta of 0.28. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week high of $114.87. The stock's fifty day simple moving average is $100.92 and its two-hundred day simple moving average is $103.88.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.39 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same quarter in the prior year, the business earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Research analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Wednesday, August 13th. Consolidated Edison's payout ratio is currently 61.71%.

Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.