Korea Investment CORP Takes Position in Consolidated Edison Inc $ED

Korea Investment CORP bought a new stake in Consolidated Edison Inc (NYSE:ED) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 268,201 shares of the utilities provider’s stock, valued at approximately $29,671,000. Korea Investment CORP owned about 0.07% of Consolidated Edison at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new position in Consolidated Edison in the second quarter valued at approximately $4,609,491,000. Deutsche Bank AG bought a new stake in shares of Consolidated Edison during the 2nd quarter valued at $749,184,000. Lazard Asset Management LLC lifted its stake in shares of Consolidated Edison by 121,543.9% in 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 purchasing an additional 5,955,653 shares during the period. Norges Bank bought a new position in shares of Consolidated Edison in the 4th quarter worth $489,806,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Consolidated Edison during the second quarter worth $231,014,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Down 1.7%

ED opened at $106.52 on Friday. The stock’s fifty day simple moving average is $109.96 and its 200 day simple moving average is $109.88. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.23. The stock has a market cap of $39.39 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 2.76 and a beta of 0.27. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 1.04.

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 analysts’ expectations 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 previous year, the business posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, research analysts expect that Consolidated Edison Inc will post 6.09 earnings per share 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 issued 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 dividend payout ratio is currently 58.29%.

Wall Street Analyst Weigh In

ED has been the topic of a number of recent analyst reports. Barclays reduced their price target on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a research report on Friday, August 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Consolidated Edison in a research note on Tuesday, July 21st. Argus set a $112.00 price target on Consolidated Edison in a report on Tuesday, June 23rd. Mizuho set a $114.00 price objective on Consolidated Edison in a report on Monday, July 27th. Finally, Morgan Stanley decreased their price objective on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a research report on Friday. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $108.93.

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.