Deutsche Bank AG Takes $749.18 Million Position in Consolidated Edison Inc $ED

Deutsche Bank AG purchased a new stake in Consolidated Edison Inc (NYSE:ED) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 6,771,976 shares of the utilities provider’s stock, valued at approximately $749,184,000. Deutsche Bank AG owned 1.84% of Consolidated Edison as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Perigon Wealth Management LLC acquired a new stake in Consolidated Edison during the 2nd quarter worth about $1,551,000. Commerzbank Aktiengesellschaft FI acquired a new position in shares of Consolidated Edison in the second quarter worth about $1,234,000. Trust Co. of Vermont acquired a new position in shares of Consolidated Edison in the second quarter worth about $631,000. Principle Wealth Partners LLC purchased a new position in shares of Consolidated Edison in the second quarter worth approximately $591,000. Finally, Joseph P. Lucia & Associates LLC purchased a new position in shares of Consolidated Edison in the second quarter worth approximately $861,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of ED opened at $108.91 on Tuesday. The company has a market capitalization of $40.28 billion, a price-to-earnings ratio of 17.88, a P/E/G ratio of 2.83 and a beta of 0.27. Consolidated Edison Inc has a fifty-two week low of $94.96 and a fifty-two week high of $116.23. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.27 and a quick ratio of 1.17. The business’s 50-day moving average is $109.90 and its 200-day moving average is $109.85.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) 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 business had revenue of $4.07 billion during 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. Equities research analysts expect that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business 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 is Wednesday, August 19th. This represents a $3.55 dividend on an annualized basis and a yield of 3.3%. Consolidated Edison’s dividend payout ratio is presently 58.29%.

Analysts Set New Price Targets

Several brokerages recently commented on ED. Argus set a $112.00 price target on shares of Consolidated Edison in a research report on Tuesday, June 23rd. Wells Fargo & Company lifted 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 report on Friday, August 7th. Morgan Stanley reissued an “underweight” rating on shares of Consolidated Edison in a research note on Wednesday, July 22nd. KeyCorp reduced their target price on Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating for the company in a report on Thursday, July 23rd. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and issued a $105.00 target price on shares of Consolidated Edison in a research report on Thursday, May 14th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $108.80.

About Consolidated Edison

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.