Consolidated Edison Inc $ED Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp lifted its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 7.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 163,899 shares of the utilities provider’s stock after purchasing an additional 11,050 shares during the quarter. Van ECK Associates Corp’s holdings in Consolidated Edison were worth $18,132,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Nissay Asset Management Corp Japan lifted its holdings in Consolidated Edison by 5.7% in the second quarter. Nissay Asset Management Corp Japan now owns 50,836 shares of the utilities provider’s stock worth $5,624,000 after acquiring an additional 2,723 shares during the last quarter. Navellier & Associates Inc. grew its holdings in shares of Consolidated Edison by 35.6% during the second quarter. Navellier & Associates Inc. now owns 4,665 shares of the utilities provider’s stock valued at $516,000 after purchasing an additional 1,226 shares during the last quarter. Archer Investment Corp acquired a new stake in shares of Consolidated Edison during the 2nd quarter worth approximately $611,000. Kingsview Wealth Management LLC bought a new stake in shares of Consolidated Edison in the 2nd quarter worth approximately $558,000. Finally, Beacon Pointe Advisors LLC bought a new stake in shares of Consolidated Edison in the 2nd quarter worth approximately $3,362,000. Institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

ED has been the topic of several analyst reports. Morgan Stanley dropped their target price on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a research report on Friday, August 21st. Weiss Ratings restated a “buy (b)” rating on shares of Consolidated Edison in a research report on Tuesday, July 21st. KeyCorp cut their price objective on shares of Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating on the stock in a research report on Thursday, July 23rd. The Goldman Sachs Group reissued a “sell” rating and set a $105.00 target price on shares of Consolidated Edison in a research note on Thursday, May 14th. Finally, Evercore reaffirmed a “positive” rating and set a $112.00 price target on shares of Consolidated Edison in a report on Monday, August 17th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $108.93.

Consolidated Edison Stock Down 0.1%

ED opened at $107.40 on Monday. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.17 and a current ratio of 1.27. The stock’s fifty day moving average is $109.99 and its 200-day moving average is $109.90. The company has a market capitalization of $39.72 billion, a PE ratio of 17.64, a P/E/G ratio of 2.73 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last released its 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 return on equity of 8.44% and a net margin of 12.53%.The firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same period in the previous year, the company earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, equities analysts predict that Consolidated Edison Inc will post 6.09 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 issued a $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. Consolidated Edison’s dividend payout ratio is currently 58.29%.

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.