10,713 Shares in Consolidated Edison Inc $ED Bought by Plato Investment Management Ltd

Key Points

• Plato Investment Management acquired 10,713 shares of Consolidated Edison during the second quarter, valued at approximately $1.18 million. Institutional investors and hedge funds collectively own 66.29% of the company.
• Consolidated Edison exceeded quarterly expectations, reporting $0.83 in EPS versus the $0.76 consensus and revenue of $4.07 billion. Analysts maintain a consensus “Reduce” rating with an average price target of $108.80.
• The company declared a quarterly dividend of $0.8875 per share, or $3.55 annualized, representing a 3.3% yield and a 58.29% payout ratio.

Plato Investment Management Ltd bought a new stake in Consolidated Edison Inc (NYSE:ED - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,713 shares of the utilities provider's stock, valued at approximately $1,178,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ED. Lazard Asset Management LLC lifted its stake in shares of Consolidated Edison by 121,543.9% in the 3rd quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider's stock valued at $599,155,000 after purchasing an additional 5,955,653 shares in the last quarter. Norges Bank acquired a new stake in Consolidated Edison during the 4th quarter worth approximately $489,806,000. Bank of New York Mellon Corp purchased a new position in Consolidated Edison in the second quarter valued at approximately $231,014,000. Deutsche Bank AG lifted its position in Consolidated Edison by 101.4% during the fourth quarter. Deutsche Bank AG now owns 3,617,361 shares of the utilities provider's stock valued at $359,276,000 after buying an additional 1,820,877 shares in the last quarter. Finally, Amundi lifted its position in Consolidated Edison by 66.2% during the first quarter. Amundi now owns 3,872,404 shares of the utilities provider's stock valued at $438,272,000 after buying an additional 1,543,069 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Barclays dropped 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. Argus set a $112.00 target price on shares of Consolidated Edison in a report on Tuesday, June 23rd. Mizuho set a $114.00 price target on Consolidated Edison in a report on Monday, July 27th. Morgan Stanley reissued an "underweight" rating on shares of Consolidated Edison in a research report on Wednesday, July 22nd. Finally, Wells Fargo & Company boosted 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 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. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus target price of $108.80.

Consolidated Edison Price Performance

Shares of ED stock opened at $108.91 on Tuesday. The firm has a fifty day simple moving average of $109.90 and a 200-day simple moving average of $109.85. The company has a market capitalization of $40.28 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 2.83 and a beta of 0.27. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED - Get Free Report) last released 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. The firm had revenue of $4.07 billion for the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities research analysts anticipate that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

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