VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Consolidated Edison Inc (NYSE:ED – Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 483,552 shares of the utilities provider’s stock, valued at approximately $53,495,000.
Other institutional investors have also made changes to their positions in the company. QRG Capital Management Inc. boosted its holdings in Consolidated Edison by 16.9% during the first quarter. QRG Capital Management Inc. now owns 204,989 shares of the utilities provider’s stock worth $23,201,000 after buying an additional 29,635 shares during the last quarter. North Dakota State Investment Board bought a new stake in shares of Consolidated Edison in the 4th quarter valued at about $1,228,000. Los Angeles Capital Management LLC raised its position in shares of Consolidated Edison by 9.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 253,230 shares of the utilities provider’s stock valued at $24,865,000 after acquiring an additional 20,972 shares during the period. M3 Wealth Management LLC acquired a new stake in shares of Consolidated Edison in the 4th quarter valued at approximately $1,380,000. Finally, SteelPeak Wealth LLC bought a new position in Consolidated Edison during the 1st quarter worth approximately $3,751,000. 66.29% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts recently issued reports on the stock. The Goldman Sachs Group restated a “sell” rating and set a $105.00 price objective on shares of Consolidated Edison in a report on Thursday, May 14th. Argus set a $112.00 price target on shares of Consolidated Edison in a research report 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 report on Thursday, July 23rd. Evercore restated a “positive” rating and issued a $112.00 price objective on shares of Consolidated Edison in a research report on Monday, August 17th. Finally, Wells Fargo & Company raised their price objective on Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $108.93.
Consolidated Edison Price Performance
Shares of ED opened at $107.26 on Monday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.17 and a current ratio of 1.27. The stock has a 50 day simple moving average of $109.78 and a 200 day simple moving average of $109.77. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $116.23. The firm has a market capitalization of $39.67 billion, a PE ratio of 17.61, a P/E/G ratio of 3.71 and a beta of 0.27.
Consolidated Edison (NYSE:ED – Get Free Report) last posted 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 business 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 period in the prior year, the business earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Sell-side analysts predict that Consolidated Edison Inc will post 6.1 EPS 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 given 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 dividend yield of 3.3%. Consolidated Edison’s dividend payout ratio is currently 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.
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