Westpac Banking Corp Makes New Investment in Consolidated Edison Inc $ED

Key Points

• Westpac Banking Corp acquired 52,202 shares of Consolidated Edison during the second quarter, worth approximately $5.8 million. Institutional investors collectively own 66.29% of the utility’s stock.
• Consolidated Edison exceeded quarterly expectations, reporting $0.83 in earnings per share versus a $0.76 consensus estimate and $4.07 billion in revenue. Management set fiscal 2026 EPS guidance at $6.00–$6.20.
• The company declared a quarterly dividend of $0.8875 per share, equivalent to an annualized $3.55 dividend and a 3.3% yield. Analyst sentiment remains cautious, with a consensus “Reduce” rating and an average price target of $108.93.

Westpac Banking Corp acquired a new stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 52,202 shares of the utilities provider's stock, valued at approximately $5,775,000.

Other hedge funds have also recently modified their holdings of the company. QRG Capital Management Inc. increased its position in Consolidated Edison by 16.9% during the 1st quarter. QRG Capital Management Inc. now owns 204,989 shares of the utilities provider's stock valued at $23,201,000 after buying an additional 29,635 shares in the last quarter. North Dakota State Investment Board bought a new stake in Consolidated Edison in the fourth quarter worth $1,228,000. Los Angeles Capital Management LLC boosted its holdings in Consolidated Edison by 9.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 253,230 shares of the utilities provider's stock worth $24,865,000 after acquiring an additional 20,972 shares in the last quarter. M3 Wealth Management LLC purchased a new stake in shares of Consolidated Edison in the fourth quarter worth $1,380,000. Finally, Arbejdsmarkedets Tillaegspension purchased a new stake in shares of Consolidated Edison in the fourth quarter worth $24,109,000. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Stock Down 1.7%

Consolidated Edison stock opened at $106.52 on Friday. The firm has a market cap of $39.39 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 2.81 and a beta of 0.27. The stock has a fifty day simple moving average of $109.96 and a two-hundred day simple moving average of $109.88. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $116.23. 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 posted its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.07. The firm had revenue of $4.07 billion during the quarter, compared to analysts' expectations of $3.60 billion. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.During the same quarter in the previous year, the business earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities analysts predict that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Wednesday, August 19th will be given 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 yield of 3.3%. Consolidated Edison's payout ratio is 58.29%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Barclays reduced their price target on Consolidated Edison from $112.00 to $106.00 and set an "underweight" rating for the company in a report on Friday, August 7th. Evercore reissued a "positive" rating and set a $112.00 price objective on shares of Consolidated Edison in a research report on Monday. Morgan Stanley cut their price objective on shares of Consolidated Edison from $105.00 to $101.00 and set an "underweight" rating on the stock 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. Finally, Wells Fargo & Company lifted their target price on shares of Consolidated Edison from $106.00 to $108.00 and gave the stock an "equal weight" rating in a report on Friday, August 7th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and six have assigned a Sell rating to the company's stock. According to MarketBeat.com, Consolidated Edison presently has a consensus rating of "Reduce" and a consensus target price of $108.93.

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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