Sanctuary Advisors LLC Takes $5.74 Million Position in Consolidated Edison Inc $ED

Key Points

• Sanctuary Advisors acquired 51,921 shares of Consolidated Edison in the second quarter, valued at approximately $5.74 million. Institutional investors and hedge funds collectively own 66.29% of the company.
• Analysts maintain a generally cautious outlook, with a consensus rating of “Reduce” and an average price target of $108.93. Ratings include three Buys, six Holds, and six Sells.
• Con Edison exceeded quarterly earnings expectations, reporting $0.83 in EPS versus the $0.76 consensus and $4.07 billion in revenue. The company declared a quarterly dividend of $0.8875 per share, equivalent to a 3.3% annual yield.

Sanctuary Advisors LLC acquired a new position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 51,921 shares of the utilities provider's stock, valued at approximately $5,744,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Consolidated Edison during the second quarter valued at $921,000. Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Consolidated Edison in the 2nd quarter worth about $10,867,000. Te Ahumairangi Investment Management Ltd acquired a new position in shares of Consolidated Edison in the 2nd quarter valued at about $8,894,000. Magellan Asset Management Ltd bought a new stake in shares of Consolidated Edison during the 2nd quarter valued at about $45,399,000. Finally, Haverford Trust Co acquired a new stake in Consolidated Edison during the second quarter worth approximately $300,000. Institutional investors and hedge funds own 66.29% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ED shares. The Goldman Sachs Group reiterated a "sell" rating and issued a $105.00 target price on shares of Consolidated Edison in a report on Thursday, May 14th. Morgan Stanley reduced their price objective on shares of Consolidated Edison from $105.00 to $101.00 and set an "underweight" rating for the company in a research report on Friday. Argus set a $112.00 price objective on shares of Consolidated Edison in a research note on Tuesday, June 23rd. Wells Fargo & Company boosted their target price on shares of Consolidated Edison from $106.00 to $108.00 and gave the company an "equal weight" rating in a research report on Friday, August 7th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Consolidated Edison in a research note on Tuesday, July 21st. 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. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $108.93.

Consolidated Edison Trading Up 1.3%

Shares of Consolidated Edison stock opened at $107.73 on Tuesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.17 and a current ratio of 1.27. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $116.23. The stock has a 50 day moving average price of $109.96 and a two-hundred day moving average price of $109.92. The stock has a market capitalization of $39.84 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 2.76 and a beta of 0.27.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.07. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same period in the prior year, the firm earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, equities analysts anticipate that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

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

Consolidated Edison Company 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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