Consolidated Edison Inc $ED Stock Holdings Boosted by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. raised its stake in shares of Consolidated Edison Inc (NYSE:ED) by 10.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,296 shares of the utilities provider’s stock after purchasing an additional 6,026 shares during the period. Rakuten Investment Management Inc.’s holdings in Consolidated Edison were worth $6,850,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Consolidated Edison in the second quarter valued at about $4,609,491,000. Deutsche Bank AG purchased a new stake in shares of Consolidated Edison during the second quarter worth about $749,184,000. Legal & General Group Plc acquired a new position in shares of Consolidated Edison during the 2nd quarter worth about $494,352,000. Bank of New York Mellon Corp acquired a new position in shares of Consolidated Edison during the 2nd quarter worth about $231,014,000. Finally, Amundi raised its position in shares of Consolidated Edison by 66.2% during the 1st quarter. Amundi now owns 3,872,404 shares of the utilities provider’s stock worth $438,272,000 after purchasing an additional 1,543,069 shares during the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $121.57 on Friday. The business’s 50 day moving average price is $108.69 and its 200 day moving average price is $109.28. The company has a market cap of $44.96 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 4.16 and a beta of 0.23. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.17 and a current ratio of 1.27. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $122.75.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, November 5th. The utilities provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.04. The company had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.75 billion. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%. During the same period in the prior year, the business earned $1.90 EPS. On average, research analysts predict that Consolidated Edison Inc will post 6.10 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Wednesday, November 18th will be issued a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Wednesday, November 18th. Consolidated Edison’s payout ratio is currently 58.29%.

Trending Headlines about Consolidated Edison

Here are the key news stories impacting Consolidated Edison this week:

• Positive Sentiment: Con Edison reported third-quarter net income of $766 million, or $2.07 per share, versus $688 million and $1.91 per share a year earlier. One report also put revenue at $4.91 billion, above analysts’ $4.75 billion estimate, while earnings exceeded that report’s $2.03-per-share consensus. Con Edison reports 2026 third-quarter earnings
• Neutral Sentiment: Con Edison’s EV charging program reportedly shifted 97% of charging load away from peak hours. This may help with grid management, but the report did not quantify a financial impact. Con Edison’s EV charging program shifts 97% of load off peak
• Negative Sentiment: Zacks reported adjusted quarterly EPS of $2.06 against its $2.07 consensus, describing a slight earnings miss. The discrepancy with other reports’ $2.07 actual EPS and $2.03 consensus could create mixed reactions to the results. Consolidated Edison misses Q3 earnings estimates

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Jefferies Financial Group reaffirmed a “hold” rating and issued a $105.00 price target (down from $121.00) on shares of Consolidated Edison in a research note on Tuesday, October 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Consolidated Edison in a research note on Monday, October 19th. Mizuho set a $108.00 price objective on Consolidated Edison in a research note on Wednesday, October 7th. Barclays reduced their target price on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a report on Friday, August 7th. Finally, Evercore decreased their target price on Consolidated Edison from $116.00 to $112.00 in a research report on Thursday, October 8th. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $108.09.

About Consolidated Edison

Consolidated Edison, Inc is a diversified energy company headquartered in New York City. Through its regulated utility subsidiaries, the company delivers electricity, natural gas and steam to residential, commercial and industrial customers.

Its principal subsidiary, Consolidated Edison Company of New York, provides electric service throughout New York City and Westchester County, along with gas service in Manhattan, the Bronx, parts of Queens and Westchester County, and steam service in parts of Manhattan.