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

Saudi Central Bank boosted its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 93.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 25,790 shares of the utilities provider’s stock after acquiring 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 filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Aberdeen Wealth Management LLC bought a new position in shares of Consolidated Edison in the 2nd quarter worth $27,000. Sachetta LLC increased its holdings in Consolidated Edison by 72.9% in the first quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 102 shares during the last quarter. JPL Wealth Management LLC acquired a new position in Consolidated Edison in the third quarter valued at about $26,000. Basepoint Wealth LLC acquired a new position in Consolidated Edison in the fourth quarter valued at about $26,000. Finally, Keating Financial Advisory Services Inc. bought a new position in Consolidated Edison during the second quarter worth about $30,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $107.26 on Tuesday. The firm has a market cap of $39.67 billion, a PE ratio of 17.61, a PEG ratio of 3.71 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 Inc has a 1-year low of $94.96 and a 1-year high of $116.23. The company has a fifty day moving average price of $109.68 and a 200 day moving average price of $109.73.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (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 return on equity of 8.44% and a net margin of 12.53%.During the same quarter in the prior year, the company earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Research analysts predict that Consolidated Edison Inc will post 6.1 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently announced 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 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 (DPR) is currently 58.29%.

Analysts Set New Price Targets

Several research firms have recently issued reports on ED. Wells Fargo & Company boosted their target price on Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Consolidated Edison in a research report on Tuesday, July 21st. Barclays reduced their price objective on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a research note on Friday, August 7th. Morgan Stanley lowered their target price on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a research note on Friday, August 21st. Finally, Mizuho set a $114.00 target price on shares of Consolidated Edison in a report on Monday, July 27th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target 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.