Equitable Holdings Inc. Makes New Investment in Consolidated Edison Inc $ED

Equitable Holdings Inc. bought a new stake in Consolidated Edison Inc (NYSE:ED) in the second quarter, HoldingsChannel reports. The fund bought 19,066 shares of the utilities provider’s stock, valued at approximately $2,109,000.

Other large investors also recently modified their holdings of the company. Revolve Wealth Partners LLC grew its position in shares of Consolidated Edison by 13.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock valued at $332,000 after purchasing an additional 441 shares during the period. Empowered Funds LLC raised its holdings in Consolidated Edison by 42.1% during the 1st quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock worth $993,000 after buying an additional 2,659 shares during the period. Woodline Partners LP raised its holdings in Consolidated Edison by 40.7% during the 1st quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock worth $3,237,000 after buying an additional 8,468 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Consolidated Edison in the second quarter valued at approximately $3,256,000. Finally, Baird Financial Group Inc. lifted its stake in Consolidated Edison by 2.1% in the second quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider’s stock valued at $1,473,000 after buying an additional 296 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Trading Up 0.7%

NYSE:ED opened at $107.40 on Friday. The company has a market cap of $39.72 billion, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 2.71 and a beta of 0.27. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23. The business has a 50 day moving average price of $109.99 and a two-hundred day moving average price of $109.88. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $3.60 billion. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. During the same period last year, the company earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, analysts expect that Consolidated Edison Inc will post 6.09 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. Shareholders of record on Wednesday, August 19th will be paid a $0.8875 dividend. This represents a $3.55 annualized dividend and a yield of 3.3%. The ex-dividend date is Wednesday, August 19th. Consolidated Edison’s payout ratio is presently 58.29%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. KeyCorp lowered their price objective on shares of Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating for the company in a research report on Thursday, July 23rd. Mizuho set a $114.00 price objective on shares of Consolidated Edison in a research report on Monday, July 27th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $105.00 target price on shares of Consolidated Edison in a research note on Thursday, May 14th. Barclays lowered their target price on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a report on Friday, August 7th. Finally, Argus set a $112.00 price target on Consolidated Edison in a research note on Tuesday, June 23rd. Three investment 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 data from MarketBeat, the stock has a consensus rating of “Reduce” and an average 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.