Saudi Central Bank Has $2.85 Million Position in Consolidated Edison Inc $ED

Saudi Central Bank grew its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 93.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 25,790 shares of the utilities provider’s stock after purchasing an additional 12,467 shares during the period. Saudi Central Bank’s holdings in Consolidated Edison were worth $2,853,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of Consolidated Edison in the 2nd quarter valued at about $4,609,491,000. Deutsche Bank AG acquired a new position in Consolidated Edison in the 2nd quarter valued at $749,184,000. Lazard Asset Management LLC lifted its position in shares of 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 valued at $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 acquired a new stake in shares of Consolidated Edison during the 2nd quarter worth $494,352,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Trading Down 0.0%

NYSE:ED opened at $107.26 on Tuesday. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 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 stock has a market capitalization of $39.67 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 3.71 and a beta of 0.27. The firm has a fifty day simple moving average of $109.68 and a two-hundred day simple moving average of $109.73.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.07. The firm had revenue of $4.07 billion for 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 prior year, the business earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Analysts expect that Consolidated Edison Inc will post 6.1 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Wednesday, August 19th will be paid a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 19th. Consolidated Edison’s dividend payout ratio is 58.29%.

Wall Street Analyst Weigh In

ED has been the topic of a number of recent analyst reports. Mizuho set a $114.00 price target on Consolidated Edison in a research report on Monday, July 27th. Argus set a $112.00 price objective on shares of Consolidated Edison in a research note on Tuesday, June 23rd. Morgan Stanley decreased their target price on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a report on Friday, August 21st. Wells Fargo & Company boosted their target price on shares of Consolidated Edison from $106.00 to $108.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. 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. Based on data from MarketBeat.com, Consolidated Edison presently 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.