SWS Partners Takes Position in Consolidated Edison Inc $ED

Key Points

• SWS Partners acquired 27,663 shares of Consolidated Edison worth approximately $3.06 million in the second quarter. Institutional investors and hedge funds now own 66.29% of the company.
• Analysts maintain a cautious outlook, with two Buy, seven Hold, and six Sell ratings. Consolidated Edison has an average rating of “Reduce” and an average price target of $109.07.
• Con Edison exceeded quarterly earnings expectations, reporting $0.83 in EPS versus the $0.76 consensus and $4.07 billion in revenue. The company also declared a quarterly dividend of $0.8875 per share, representing a 3.3% annualized yield.

SWS Partners acquired a new stake in Consolidated Edison Inc (NYSE:ED - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 27,663 shares of the utilities provider's stock, valued at approximately $3,060,000.

Other institutional investors also recently bought and sold shares of the company. Summit Global Investments purchased a new stake in Consolidated Edison during the 2nd quarter worth approximately $4,590,000. Bryn Mawr Trust Advisors LLC purchased a new position in shares of Consolidated Edison in the second quarter worth $278,000. Cornerstone Capital Inc. acquired a new stake in shares of Consolidated Edison during the second quarter worth $770,000. Ballast Inc. lifted its stake in shares of Consolidated Edison by 23.5% during the second quarter. Ballast Inc. now owns 20,525 shares of the utilities provider's stock worth $2,271,000 after buying an additional 3,909 shares during the period. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of Consolidated Edison during the second quarter valued at $14,762,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Morgan Stanley reissued an "underweight" rating on shares of Consolidated Edison in a research report on Wednesday, July 22nd. Evercore set a $116.00 price target on Consolidated Edison in a research report on Monday, May 11th. Mizuho set a $114.00 price target on Consolidated Edison in a research note on Monday, July 27th. Argus set a $112.00 price objective on Consolidated Edison in a report on Tuesday, June 23rd. Finally, KeyCorp reduced their price objective on Consolidated Edison from $97.00 to $94.00 and set an "underweight" rating for the company in a research note on Thursday, July 23rd. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and an average target price of $109.07.

Consolidated Edison Stock Up 0.3%

ED stock opened at $108.73 on Friday. The firm's fifty day simple moving average is $109.81 and its 200-day simple moving average is $109.79. The company has a market capitalization of $40.21 billion, a P/E ratio of 17.85, a price-to-earnings-growth ratio of 2.81 and a beta of 0.27. 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 12 month low of $94.96 and a 12 month high of $116.23.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings data 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 net margin of 12.53% and a return on equity of 8.44%. The firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same quarter in the prior year, the business earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, equities research analysts forecast that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Dividend Announcement

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