Danica Pension Livsforsikringsaktieselskab Makes New $11.24 Million Investment in Consolidated Edison Inc $ED

Danica Pension Livsforsikringsaktieselskab bought a new stake in Consolidated Edison Inc (NYSE:ED) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 101,578 shares of the utilities provider’s stock, valued at approximately $11,238,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ED. QRG Capital Management Inc. raised its position in shares of Consolidated Edison by 16.9% during the 1st quarter. QRG Capital Management Inc. now owns 204,989 shares of the utilities provider’s stock valued at $23,201,000 after buying an additional 29,635 shares during the period. North Dakota State Investment Board acquired a new position in Consolidated Edison in the fourth quarter valued at approximately $1,228,000. Los Angeles Capital Management LLC grew its position in Consolidated Edison by 9.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 253,230 shares of the utilities provider’s stock worth $24,865,000 after acquiring an additional 20,972 shares during the period. M3 Wealth Management LLC purchased a new position in Consolidated Edison in the fourth quarter worth approximately $1,380,000. Finally, Arbejdsmarkedets Tillaegspension acquired a new stake in Consolidated Edison during the fourth quarter worth $24,109,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ED. Morgan Stanley restated an “underweight” rating on shares of Consolidated Edison in a research report on Wednesday, July 22nd. Barclays lowered their price target on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a report on Friday, August 7th. Argus set a $112.00 price objective on shares of Consolidated Edison in a report on Tuesday, June 23rd. Wells Fargo & Company boosted their price objective on shares of Consolidated Edison from $106.00 to $108.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Finally, Evercore reaffirmed a “positive” rating and issued a $112.00 target price on shares of Consolidated Edison in a research report on Monday. Three investment 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. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $108.80.

Consolidated Edison Price Performance

Shares of ED opened at $109.13 on Wednesday. Consolidated Edison Inc has a fifty-two week low of $94.96 and a fifty-two week high of $116.23. The firm’s 50 day moving average price is $109.95 and its 200 day moving average price is $109.88. The company has a market cap of $40.36 billion, a P/E ratio of 17.92, a PEG 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 (NYSE:ED) last issued its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.76 by $0.07. The company had revenue of $4.07 billion during 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 quarter last year, the company posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, research analysts forecast that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

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