Cornerstone Capital Inc. Buys Shares of 6,957 Consolidated Edison Inc $ED

Cornerstone Capital Inc. purchased a new position in Consolidated Edison Inc (NYSE:ED) in the second quarter, Holdings Channel reports. The fund purchased 6,957 shares of the utilities provider’s stock, valued at approximately $770,000.

A number of other institutional investors have also made changes to their positions in ED. Vanguard Group Inc. boosted its position in Consolidated Edison by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 45,636,041 shares of the utilities provider’s stock worth $4,532,572,000 after purchasing an additional 461,108 shares during the period. State Street Corp raised its position in shares of Consolidated Edison by 3.6% in 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 raised its position in shares of Consolidated Edison by 14.8% in 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. Price T Rowe Associates Inc. MD lifted its stake in shares of Consolidated Edison by 11.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,200,840 shares of the utilities provider’s stock worth $516,549,000 after buying an additional 514,178 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Consolidated Edison in the fourth quarter worth $489,806,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Price Performance

NYSE:ED opened at $108.73 on Friday. The stock has a market cap of $40.21 billion, a P/E ratio of 17.85, a PEG ratio of 2.81 and a beta of 0.27. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23. The company has a fifty day moving average price of $109.81 and a 200 day moving average price of $109.79. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.27 and a quick ratio of 1.17.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same period last year, the business posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Analysts anticipate that Consolidated Edison Inc will post 6.09 earnings per share for the current 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 dividend of $0.8875 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $3.55 dividend on an annualized basis and a yield of 3.3%. Consolidated Edison’s dividend payout ratio (DPR) is 58.29%.

Analyst Ratings Changes

ED has been the topic of a number of research analyst reports. Wells Fargo & Company raised their target price on shares of Consolidated Edison from $106.00 to $108.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. KeyCorp cut their target price 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. Mizuho set a $114.00 price target on shares of Consolidated Edison in a report on Monday, July 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Consolidated Edison in a research report on Tuesday, July 21st. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $105.00 price objective on shares of Consolidated Edison in a research note on Thursday, May 14th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Consolidated Edison presently has a consensus rating of “Reduce” and a consensus target price of $109.07.

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.