BG Investment Services LLC Purchases New Holdings in Consolidated Edison Inc $ED

Key Points

• BG Investment Services purchased 93,295 shares of Consolidated Edison worth approximately $9.5 million in the third quarter, making ED about 1.4% of its portfolio. Institutional investors collectively own 66.29% of the company.
• Analyst sentiment remains cautious: Consolidated Edison has a consensus “Reduce” rating, with three Buy, eight Hold, and six Sell ratings and an average price target of $107.50.
• Consolidated Edison reported quarterly EPS of $0.83, exceeding expectations of $0.76, and declared a quarterly dividend of $0.8875 per share, equivalent to a 3.1% annualized yield.

BG Investment Services LLC purchased a new stake in Consolidated Edison Inc (NYSE:ED - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 93,295 shares of the utilities provider's stock, valued at approximately $9,536,000. Consolidated Edison makes up about 1.4% of BG Investment Services LLC's portfolio, making the stock its 18th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ED. Citizens Financial Group Inc. RI boosted its position in shares of Consolidated Edison by 0.9% in the third quarter. Citizens Financial Group Inc. RI now owns 22,391 shares of the utilities provider's stock worth $2,289,000 after buying an additional 195 shares during the period. Simplicity Wealth LLC raised its position in Consolidated Edison by 15.7% during the third quarter. Simplicity Wealth LLC now owns 12,230 shares of the utilities provider's stock valued at $1,250,000 after buying an additional 1,658 shares during the period. Evergreen Capital Management LLC lifted its stake in Consolidated Edison by 3.7% in the 3rd quarter. Evergreen Capital Management LLC now owns 13,419 shares of the utilities provider's stock worth $1,372,000 after acquiring an additional 478 shares in the last quarter. Tectonic Advisors LLC lifted its stake in Consolidated Edison by 6.4% in the 3rd quarter. Tectonic Advisors LLC now owns 120,564 shares of the utilities provider's stock worth $12,323,000 after acquiring an additional 7,250 shares in the last quarter. Finally, Capital Investment Advisors LLC lifted its stake in Consolidated Edison by 2.9% in the 3rd quarter. Capital Investment Advisors LLC now owns 24,942 shares of the utilities provider's stock worth $2,549,000 after acquiring an additional 709 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company's stock.

Wall Street Analysts Forecast Growth

ED has been the subject of a number of research reports. Morgan Stanley decreased their price objective on Consolidated Edison from $101.00 to $97.00 and set an "underweight" rating for the company in a research report on Friday, September 18th. Weiss Ratings reiterated a "buy (b)" rating on shares of Consolidated Edison in a report on Monday, October 19th. HSBC began coverage on shares of Consolidated Edison in a research report on Thursday. They issued a "hold" rating and a $104.00 price target for the company. Wells Fargo & Company raised their price target on shares of Consolidated Edison from $106.00 to $108.00 and gave the stock an "equal weight" rating in a report on Friday, August 7th. Finally, KeyCorp decreased their price target on shares of Consolidated Edison from $94.00 to $87.00 and set an "underweight" rating for the company in a report on Tuesday, October 13th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have assigned a Sell rating to the company's stock. According to MarketBeat, Consolidated Edison currently has a consensus rating of "Reduce" and an average target price of $107.50.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $115.82 on Friday. 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 Inc has a 1 year low of $94.96 and a 1 year high of $116.50. The business has a fifty day simple moving average of $107.03 and a 200 day simple moving average of $108.44. The firm has a market cap of $42.83 billion, a price-to-earnings ratio of 19.02, a P/E/G ratio of 4.01 and a beta of 0.26.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.07. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%. The firm had revenue of $4.07 billion during the quarter, compared to analysts' expectations of $3.60 billion. During the same quarter last year, the firm earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, sell-side analysts predict that Consolidated Edison Inc will post 6.10 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Wednesday, November 18th will be issued a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Wednesday, November 18th. Consolidated Edison's dividend payout ratio is 58.29%.

Consolidated Edison Profile

Consolidated Edison, Inc is a diversified energy company headquartered in New York City. Through its regulated utility subsidiaries, the company delivers electricity, natural gas and steam to residential, commercial and industrial customers.

Its principal subsidiary, Consolidated Edison Company of New York, provides electric service throughout New York City and Westchester County, along with gas service in Manhattan, the Bronx, parts of Queens and Westchester County, and steam service in parts of Manhattan.

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