Citizens Financial Group Inc. RI Purchases New Holdings in Consolidated Edison Inc $ED

Citizens Financial Group Inc. RI acquired 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 acquired 22,196 shares of the utilities provider’s stock, valued at approximately $2,456,000.

A number of other institutional investors also recently made changes to their positions in ED. Nuance Investments LLC purchased a new position in shares of Consolidated Edison during the 2nd quarter valued at approximately $1,552,000. Grandfield & Dodd LLC bought a new stake in shares of Consolidated Edison in the second quarter worth $473,000. BlackRock Inc. bought a new stake in shares of Consolidated Edison in the second quarter worth $4,609,491,000. Occidental Asset Management LLC acquired a new stake in Consolidated Edison in the second quarter valued at $1,122,000. Finally, Pallas Capital Advisors LLC acquired a new stake in Consolidated Edison in the second quarter valued at $336,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. The Goldman Sachs Group reissued a “sell” rating and set a $105.00 price objective on shares of Consolidated Edison in a report on Thursday, May 14th. Argus set a $112.00 target price on shares of Consolidated Edison in a research note on Tuesday, June 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Consolidated Edison in a research report on Tuesday, July 21st. Evercore reiterated a “positive” rating and issued a $112.00 price target on shares of Consolidated Edison in a research note on Monday. Finally, Wells Fargo & Company boosted their price objective on Consolidated Edison from $106.00 to $108.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $108.80.

Consolidated Edison Stock Performance

Shares of ED opened at $108.91 on Tuesday. The business’s fifty day moving average price is $109.90 and its 200 day moving average price is $109.85. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $116.23. The stock has a market capitalization of $40.28 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 2.83 and a beta of 0.27. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.27 and a quick ratio of 1.17.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The firm had revenue of $4.07 billion during 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 quarter in the previous year, the company posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities research analysts forecast that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders 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 payout ratio is 58.29%.

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.