California State Teachers Retirement System Buys 157,802 Shares of Consolidated Edison Inc $ED

California State Teachers Retirement System increased its holdings in Consolidated Edison Inc (NYSE:ED - Free Report) by 24.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 794,867 shares of the utilities provider's stock after purchasing an additional 157,802 shares during the period. California State Teachers Retirement System owned approximately 0.21% of Consolidated Edison worth $87,936,136 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. QRG Capital Management Inc. increased its stake 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 purchasing an additional 29,635 shares during the period. North Dakota State Investment Board bought a new stake in Consolidated Edison during the fourth quarter valued at $1,228,000. Los Angeles Capital Management LLC lifted its holdings in shares of Consolidated Edison by 9.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 253,230 shares of the utilities provider's stock valued at $24,865,000 after buying an additional 20,972 shares during the period. M3 Wealth Management LLC purchased a new stake in shares of Consolidated Edison during the fourth quarter worth $1,380,000. Finally, SteelPeak Wealth LLC bought a new position in shares of Consolidated Edison during the 1st quarter worth about $3,751,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ED. Argus set a $112.00 price objective on Consolidated Edison in a research note on Tuesday, June 23rd. Weiss Ratings reissued a "buy (b)" rating on shares of Consolidated Edison in a research note on Tuesday, July 21st. KeyCorp lowered their target price on Consolidated Edison from $97.00 to $94.00 and set an "underweight" rating on the stock in a report on Thursday, July 23rd. Mizuho set a $114.00 price objective on Consolidated Edison in a research report on Monday, July 27th. Finally, Barclays lowered their price target on Consolidated Edison from $112.00 to $106.00 and set an "underweight" rating on the stock in a research report on Friday, August 7th. Three 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's stock. According to data from MarketBeat.com, Consolidated Edison has an average rating of "Reduce" and a consensus price target of $108.93.

Consolidated Edison Stock Performance

Consolidated Edison stock traded down $0.30 during mid-day trading on Tuesday, reaching $105.47. The company had a trading volume of 726,491 shares, compared to its average volume of 2,225,312. The company has a 50 day moving average of $109.15 and a 200-day moving average of $109.58. The firm has a market cap of $39.01 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 3.69 and a beta of 0.27. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $116.23.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly 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 firm 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 firm posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, sell-side analysts expect that Consolidated Edison Inc will post 6.1 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Wednesday, August 19th will be issued a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a yield of 3.4%. The ex-dividend date is Wednesday, August 19th. Consolidated Edison's dividend payout ratio is presently 58.29%.

About Consolidated Edison

Consolidated Edison, Inc is an energy delivery holding company headquartered in New York. Through its principal subsidiary, Consolidated Edison Company of New York, Inc, the company provides electric, natural gas and steam service to customers in New York City and Westchester County, New York.

Con Edison also operates Orange and Rockland Utilities, Inc, which supplies electric and natural gas service in parts of southeastern New York and northern New Jersey. Its utility operations include the generation, transmission and distribution of energy, as well as the maintenance of the infrastructure required to serve residential, commercial and industrial customers.

The company traces its roots to energy businesses that began operating in New York during the 19th century and adopted the Consolidated Edison name in the 1930s.

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