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

Johnson Financial Group Inc. bought a new stake in shares of Consolidated Edison Inc (NYSE:ED) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,456 shares of the utilities provider’s stock, valued at approximately $825,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ED. Vanguard Group Inc. grew its position in Consolidated Edison by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 45,636,041 shares of the utilities provider’s stock valued at $4,532,572,000 after acquiring an additional 461,108 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Consolidated Edison during the second quarter worth $4,609,491,000. State Street Corp boosted its stake 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 purchasing an additional 854,868 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Consolidated Edison by 14.8% during the first 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 period. Finally, Deutsche Bank AG bought a new position in shares of Consolidated Edison in the second quarter worth about $749,184,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ED has been the topic of a number of research reports. Evercore reaffirmed a “positive” rating and set a $112.00 target price on shares of Consolidated Edison in a research report on Monday. Wells Fargo & Company increased their price objective on Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Weiss Ratings restated a “buy (b)” rating on shares of Consolidated Edison in a report on Tuesday, July 21st. The Goldman Sachs Group reaffirmed 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 dropped their price target on 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 analysts have rated the stock with a Buy rating, six have given a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $108.80.

Consolidated Edison Stock Down 1.0%

Consolidated Edison stock opened at $108.04 on Thursday. The firm has a market cap of $39.96 billion, a P/E ratio of 17.74, a P/E/G ratio of 2.83 and a beta of 0.27. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23. The business has a fifty day moving average of $109.96 and a two-hundred day moving average of $109.89.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.The firm had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $3.60 billion. During the same period in the prior year, the business posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, analysts forecast that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

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

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.