Consolidated Edison Inc $ED Shares Acquired by Odyssean LLC

Odyssean LLC increased its stake in Consolidated Edison Inc (NYSE:ED) by 58.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,767 shares of the utilities provider’s stock after purchasing an additional 6,891 shares during the quarter. Odyssean LLC’s holdings in Consolidated Edison were worth $2,076,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Consolidated Edison during the second quarter valued at $4,609,491,000. State Street Corp boosted its holdings in shares of Consolidated Edison by 3.6% during the fourth quarter. State Street Corp now owns 24,905,440 shares of the utilities provider’s stock worth $2,473,608,000 after purchasing an additional 854,868 shares during the period. Lazard Asset Management LLC grew its position in Consolidated Edison by 14.8% during the first quarter. Lazard Asset Management LLC now owns 7,075,838 shares of the utilities provider’s stock valued at $800,843,000 after purchasing an additional 910,244 shares in the last quarter. Deutsche Bank AG purchased a new position in Consolidated Edison during the second quarter valued at approximately $749,184,000. Finally, Price T Rowe Associates Inc. MD increased its stake in Consolidated Edison by 11.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,200,840 shares of the utilities provider’s stock valued at $516,549,000 after buying an additional 514,178 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

Shares of ED opened at $107.26 on Friday. The company’s fifty day moving average is $109.78 and its 200-day moving average is $109.80. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $116.23. The firm has a market cap of $39.67 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 3.77 and a beta of 0.27. 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 released its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. The business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $3.60 billion. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. During the same quarter in the previous year, the business earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities analysts expect that Consolidated Edison Inc will post 6.1 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

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 $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 dividend yield of 3.3%. Consolidated Edison’s payout ratio is currently 58.29%.

Wall Street Analysts Forecast Growth

ED has been the subject of a number of research analyst reports. Morgan Stanley cut their target price 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, August 21st. Wells Fargo & Company boosted their price target on shares of Consolidated Edison from $106.00 to $108.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Argus set a $112.00 price target on shares of Consolidated Edison in a research note on Tuesday, June 23rd. Evercore reissued a “positive” rating and set a $112.00 price objective on shares of Consolidated Edison in a research report on Monday, August 17th. Finally, Barclays lowered their target price on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a research note on Friday, August 7th. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $108.93.

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.