National Pension Service Boosts Holdings in Consolidated Edison Inc $ED

Key Points

• National Pension Service increased its Consolidated Edison stake by 4.2% in the second quarter, adding 23,679 shares to own 584,542 shares worth approximately $64.7 million. Institutional investors collectively own 66.29% of the company.
• Analyst sentiment remains 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 beat quarterly expectations with earnings of $0.83 per share versus $0.76 expected and revenue of $4.07 billion. The company also declared a quarterly dividend of $0.8875, equivalent to a 3.3% annualized yield.

National Pension Service boosted its holdings in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 4.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 584,542 shares of the utilities provider's stock after buying an additional 23,679 shares during the quarter. National Pension Service owned approximately 0.16% of Consolidated Edison worth $64,668,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Cidel Asset Management Inc. grew its position in shares of Consolidated Edison by 6.2% during the 2nd quarter. Cidel Asset Management Inc. now owns 3,711 shares of the utilities provider's stock valued at $411,000 after acquiring an additional 218 shares during the period. Pinnacle Wealth Management Advisory Group LLC lifted its position in Consolidated Edison by 5.3% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,461 shares of the utilities provider's stock valued at $494,000 after purchasing an additional 223 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in Consolidated Edison by 3.3% during the second quarter. Integrated Wealth Concepts LLC now owns 46,287 shares of the utilities provider's stock valued at $5,121,000 after purchasing an additional 1,492 shares during the period. RFG Advisory LLC increased its position in Consolidated Edison by 4.5% in the second quarter. RFG Advisory LLC now owns 3,145 shares of the utilities provider's stock worth $348,000 after buying an additional 136 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of Consolidated Edison by 47.8% in the second quarter. NewEdge Advisors LLC now owns 29,138 shares of the utilities provider's stock worth $3,224,000 after buying an additional 9,420 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ED has been the subject of several analyst reports. Argus set a $112.00 target price on shares of Consolidated Edison in a report on Tuesday, June 23rd. Wells Fargo & Company increased their price objective on shares of Consolidated Edison from $106.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Friday, August 7th. Mizuho set a $114.00 target price on shares of Consolidated Edison in a report on Monday, July 27th. KeyCorp decreased their price target on Consolidated Edison from $97.00 to $94.00 and set an "underweight" rating on the stock in a report on Thursday, July 23rd. Finally, 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. 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. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus price target of $108.93.

Consolidated Edison Stock Performance

NYSE ED opened at $106.64 on Friday. 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 Inc has a 1-year low of $94.96 and a 1-year high of $116.23. The business has a 50 day simple moving average of $109.27 and a two-hundred day simple moving average of $109.63. The stock has a market capitalization of $39.44 billion, a PE ratio of 17.51, a P/E/G ratio of 3.70 and a beta of 0.27.

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 (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.The business had revenue of $4.07 billion for the quarter, compared to analysts' expectations of $3.60 billion. During the same period in the prior year, the firm earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, research analysts predict that Consolidated Edison Inc will post 6.1 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.3%. Consolidated Edison's dividend payout ratio (DPR) is presently 58.29%.

About Consolidated Edison

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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