Centaurus Financial Inc. Purchases New Stake in Consolidated Edison Inc $ED

Centaurus Financial Inc. acquired a new position in Consolidated Edison Inc (NYSE:ED) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,331 shares of the utilities provider’s stock, valued at approximately $700,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Consolidated Edison during the second quarter worth approximately $4,609,491,000. Deutsche Bank AG acquired a new stake in Consolidated Edison during the 2nd quarter worth $749,184,000. Lazard Asset Management LLC grew its holdings in Consolidated Edison by 121,543.9% during the 3rd quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock worth $599,155,000 after acquiring an additional 5,955,653 shares during the period. Norges Bank bought a new stake in shares of Consolidated Edison during the 4th quarter valued at $489,806,000. Finally, Legal & General Group Plc bought a new stake in shares of Consolidated Edison during the 2nd quarter valued at $494,352,000. 66.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on ED. Argus set a $112.00 price target on Consolidated Edison in a research report on Tuesday, June 23rd. Barclays cut 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. Evercore restated a “positive” rating and set a $112.00 target price on shares of Consolidated Edison in a report on Monday, August 17th. The Goldman Sachs Group restated a “sell” rating and set a $105.00 target price on shares of Consolidated Edison in a research report on Thursday, May 14th. Finally, KeyCorp cut their price target 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. 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $108.93.

Consolidated Edison Price Performance

Shares of ED opened at $107.40 on Friday. The stock has a 50 day simple moving average of $109.99 and a 200 day simple moving average of $109.88. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week 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 firm has a market capitalization of $39.72 billion, a PE ratio of 17.64, a P/E/G ratio of 2.71 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.76 by $0.07. The firm 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 posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Sell-side analysts predict that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Wednesday, August 19th will be given a $0.8875 dividend. 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 payout ratio is currently 58.29%.

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.