Te Ahumairangi 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 Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 80,391 shares of the utilities provider's stock, valued at approximately $8,894,000. Consolidated Edison accounts for about 1.4% of Te Ahumairangi Investment Management Ltd's portfolio, making the stock its 20th biggest position.
Other hedge funds have also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC raised its holdings in shares of Consolidated Edison by 13.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider's stock worth $332,000 after buying an additional 441 shares in the last quarter. Empowered Funds LLC grew its position in Consolidated Edison by 42.1% in the first quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider's stock valued at $993,000 after acquiring an additional 2,659 shares during the period. Woodline Partners LP raised its stake in Consolidated Edison by 40.7% during the first quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider's stock worth $3,237,000 after acquiring an additional 8,468 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Consolidated Edison during the second quarter valued at $3,256,000. Finally, Baird Financial Group Inc. boosted its stake in shares of Consolidated Edison by 2.1% in the 2nd quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider's stock valued at $1,473,000 after purchasing an additional 296 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company's stock.
Consolidated Edison Stock Up 0.2%
Shares of NYSE ED opened at $106.52 on Monday. Consolidated Edison Inc has a 1 year low of $94.96 and a 1 year high of $116.23. The firm's 50-day moving average is $109.96 and its 200-day moving average is $109.91. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $39.39 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 2.76 and a beta of 0.27.
Consolidated Edison (NYSE:ED - Get Free Report) last issued its 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 in the previous year, the company posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities analysts expect that Consolidated Edison Inc will post 6.09 EPS for the current year.
Consolidated Edison Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Wednesday, August 19th will be paid a $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $3.55 annualized dividend and a yield of 3.3%. Consolidated Edison's dividend payout ratio is presently 58.29%.
Wall Street Analysts Forecast Growth
ED has been the subject of a number of recent analyst reports. The Goldman Sachs Group reiterated a "sell" rating and set a $105.00 target price on shares of Consolidated Edison in a research report on Thursday, May 14th. Argus set a $112.00 target price on shares of Consolidated Edison in a research note on Tuesday, June 23rd. KeyCorp dropped their price target on Consolidated Edison from $97.00 to $94.00 and set an "underweight" rating for the company in a report on Thursday, July 23rd. Evercore reiterated a "positive" rating and issued a $112.00 price objective on shares of Consolidated Edison in a research report on Monday, August 17th. Finally, Barclays lowered their target price on Consolidated Edison from $112.00 to $106.00 and set an "underweight" rating for the company in a research note on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus target price of $108.93.
Get Our Latest Stock Analysis on ED
Consolidated Edison Profile
(
Free Report)
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.
Further Reading
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