Citizens Financial Group Inc. RI Invests $2.46 Million in Consolidated Edison Inc $ED

Citizens Financial Group Inc. RI acquired a new stake in Consolidated Edison Inc (NYSE:ED) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 22,196 shares of the utilities provider’s stock, valued at approximately $2,456,000.

Other institutional investors have also modified their holdings of the company. Revolve Wealth Partners LLC increased its position in Consolidated Edison by 13.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after purchasing an additional 441 shares in the last quarter. Empowered Funds LLC lifted its position in Consolidated Edison by 42.1% during the first quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock valued at $993,000 after buying an additional 2,659 shares in the last quarter. Woodline Partners LP grew its stake in Consolidated Edison by 40.7% during the first quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock worth $3,237,000 after buying an additional 8,468 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Consolidated Edison during the second quarter worth approximately $3,256,000. Finally, Baird Financial Group Inc. grew its stake in Consolidated Edison by 2.1% during the second quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider’s stock worth $1,473,000 after buying an additional 296 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Up 0.1%

Shares of NYSE:ED opened at $108.91 on Tuesday. The company has a market capitalization of $40.28 billion, a price-to-earnings ratio of 17.88, a price-to-earnings-growth ratio of 2.83 and a beta of 0.27. The company has a 50 day moving average of $109.90 and a two-hundred day moving average of $109.85. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $116.23. 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 (NYSE:ED) last posted its earnings results 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 business had revenue of $4.07 billion for 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 company posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, 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 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. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $3.55 annualized dividend and a yield of 3.3%. Consolidated Edison’s payout ratio is 58.29%.

Analyst Ratings Changes

A number of brokerages have recently commented on ED. Argus set a $112.00 target price on shares of Consolidated Edison in a research note on Tuesday, June 23rd. KeyCorp decreased their price target on shares of Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating for the company in a research report on Thursday, July 23rd. Evercore reiterated a “positive” rating and issued a $112.00 price target on shares of Consolidated Edison in a report on Monday. Mizuho set a $114.00 price target on Consolidated Edison in a report on Monday, July 27th. Finally, Barclays cut their price objective on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a research report on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $108.80.

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.