Johnson Financial Group Inc. Takes $825,000 Position in Consolidated Edison Inc $ED

Johnson Financial Group Inc. bought a new position in shares of Consolidated Edison Inc (NYSE:ED) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 7,456 shares of the utilities provider’s stock, valued at approximately $825,000.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Consolidated Edison by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 45,636,041 shares of the utilities provider’s stock valued at $4,532,572,000 after buying an additional 461,108 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Consolidated Edison during the second quarter valued at about $4,609,491,000. State Street Corp increased 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 valued at $2,473,608,000 after acquiring an additional 854,868 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of Consolidated Edison by 14.8% in the 1st 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 during the last quarter. Finally, Deutsche Bank AG purchased a new position in shares of Consolidated Edison in the 2nd quarter valued at approximately $749,184,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $108.04 on Thursday. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve 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. The company has a market cap of $39.96 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 2.83 and a beta of 0.27. The company’s 50 day moving average is $109.96 and its 200 day moving average is $109.89.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.76 by $0.07. The business 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 in the prior year, the firm earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, sell-side analysts forecast that Consolidated Edison Inc will post 6.09 EPS for the current 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 dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 19th. Consolidated Edison’s dividend payout ratio (DPR) is currently 58.29%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ED. Argus set a $112.00 target price on shares of Consolidated Edison in a research report on Tuesday, June 23rd. KeyCorp decreased their price target on shares of Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating for the company in a report on Thursday, July 23rd. Mizuho set a $114.00 price objective on shares of Consolidated Edison in a research note on Monday, July 27th. Morgan Stanley reissued an “underweight” rating on shares of Consolidated Edison in a report on Wednesday, July 22nd. Finally, The Goldman Sachs Group restated a “sell” rating and issued a $105.00 target price on shares of Consolidated Edison in a research note on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price 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.