Varma Mutual Pension Insurance Co purchased a new stake in shares of Consolidated Edison Inc (NYSE:ED – Free Report) during the second quarter, Holdings Channel reports. The fund purchased 137,915 shares of the utilities provider’s stock, valued at approximately $15,258,000.
Other large investors have also recently bought and sold shares of the company. Westpac Banking Corp acquired a new position in shares of Consolidated Edison in the 2nd quarter valued at about $5,775,000. Landscape Capital Management L.L.C. bought a new stake in shares of Consolidated Edison during the 2nd quarter valued at about $924,000. Korea Investment CORP acquired a new stake in Consolidated Edison during the second quarter worth approximately $29,671,000. EP Wealth Advisors LLC acquired a new stake in Consolidated Edison during the second quarter worth approximately $2,247,000. Finally, Heartland Bank & Trust Co bought a new stake in Consolidated Edison in the second quarter worth approximately $278,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
ED has been the topic of several recent analyst reports. Mizuho set a $114.00 price target on Consolidated Edison in a research note on Monday, July 27th. Barclays reduced their price objective on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a research report on Friday, August 7th. Morgan Stanley lowered their price objective on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a research note on Friday. Weiss Ratings reiterated a “buy (b)” rating on shares of Consolidated Edison in a research report on Tuesday, July 21st. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $105.00 target price on shares of Consolidated Edison in a research note on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $108.93.
Consolidated Edison Stock Performance
Shares of Consolidated Edison stock opened at $106.52 on Monday. The business has a 50-day simple moving average of $109.96 and a 200 day simple moving average of $109.91. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.27 and a quick ratio of 1.17. The firm has a market capitalization of $39.39 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 2.76 and a beta of 0.27.
Consolidated Edison (NYSE:ED – Get Free Report) last announced 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 return on equity of 8.44% and a net margin of 12.53%.The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same quarter in the prior year, the company earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, research analysts anticipate that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.
Consolidated Edison Announces Dividend
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 issued a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, August 19th. Consolidated Edison’s dividend payout ratio (DPR) is currently 58.29%.
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.
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