Consolidated Edison Inc $ED Shares Purchased by OMERS ADMINISTRATION Corp

Key Points

• OMERS Administration Corp increased its Consolidated Edison stake by 66% in the first quarter, purchasing 9,527 additional shares and bringing its holdings to 23,956 shares valued at approximately $2.7 million.
• Institutional investors own 66.29% of Consolidated Edison, with Vanguard, State Street, Lazard, and T. Rowe Price among the company’s largest institutional holders.
• Con Edison announced a quarterly dividend of $0.8875 per share, equivalent to $3.55 annually and a 3.2% yield. Analysts’ consensus rating is “Reduce,” with an average price target of $108.47 versus the stock’s reported $112.15 price.

OMERS ADMINISTRATION Corp boosted its holdings in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 66.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,956 shares of the utilities provider's stock after purchasing an additional 9,527 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Consolidated Edison were worth $2,711,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Consolidated Edison by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 45,636,041 shares of the utilities provider's stock valued at $4,532,572,000 after buying an additional 461,108 shares during the last quarter. State Street Corp increased its stake in shares of Consolidated Edison by 3.6% in the fourth quarter. State Street Corp now owns 24,905,440 shares of the utilities provider's stock worth $2,473,608,000 after buying an additional 854,868 shares during the last quarter. Lazard Asset Management LLC raised its holdings in Consolidated Edison by 3.4% in the fourth quarter. Lazard Asset Management LLC now owns 6,165,594 shares of the utilities provider's stock valued at $612,367,000 after acquiring an additional 205,041 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Consolidated Edison by 11.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,200,840 shares of the utilities provider's stock valued at $516,549,000 after acquiring an additional 514,178 shares in the last quarter. Finally, Norges Bank acquired a new stake in Consolidated Edison in the fourth quarter valued at $489,806,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

Shares of ED opened at $112.15 on Wednesday. The business's fifty day moving average price is $109.22 and its 200 day moving average price is $109.26. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $116.23. The stock has a market capitalization of $41.33 billion, a PE ratio of 18.88, a price-to-earnings-growth ratio of 2.89 and a beta of 0.27. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.19 and a quick ratio of 1.09.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Wednesday, August 19th will be issued a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, August 19th. Consolidated Edison's dividend payout ratio is 59.76%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Morgan Stanley reissued an "underweight" rating on shares of Consolidated Edison in a report on Wednesday, July 22nd. Mizuho set a $114.00 target price on shares of Consolidated Edison in a research note on Monday. KeyCorp reduced their price target on shares of Consolidated Edison from $97.00 to $94.00 and set an "underweight" rating on the stock in a research report on Thursday, July 23rd. Wells Fargo & Company set a $98.00 price target on Consolidated Edison in a research note on Tuesday, April 21st. Finally, Evercore set a $116.00 price objective on Consolidated Edison in a report on Monday, May 11th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price of $108.47.

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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