Consolidated Edison Inc $ED Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Grows Stake

Key Points

• Virginia Retirement Systems increased its Consolidated Edison stake by 5.1% in the third quarter, bringing its holdings to 508,052 shares valued at approximately $51.9 million. Institutional investors collectively own 66.29% of ED.
• Analyst sentiment remains cautious: MarketBeat reports an average rating of “Reduce” and an average price target of $108.09, with four Buy, nine Hold, and six Sell ratings.
• Consolidated Edison reported quarterly EPS of $0.83, exceeding estimates of $0.76, and declared a quarterly dividend of $0.8875, equivalent to an annualized $3.55 payout and a 3.0% yield.

VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in Consolidated Edison Inc (NYSE:ED - Free Report) by 5.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 508,052 shares of the utilities provider's stock after acquiring an additional 24,500 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.14% of Consolidated Edison worth $51,928,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ED. Aberdeen Wealth Management LLC purchased a new stake in shares of Consolidated Edison in the 2nd quarter worth $27,000. Sachetta LLC raised its holdings in Consolidated Edison by 72.9% in the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider's stock worth $27,000 after purchasing an additional 102 shares during the period. Activest Wealth Management lifted its position in Consolidated Edison by 77.3% during the third quarter. Activest Wealth Management now owns 250 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 109 shares in the last quarter. Keating Financial Advisory Services Inc. purchased a new position in Consolidated Edison during the second quarter valued at $30,000. Finally, GoalVest Advisory LLC lifted its position in Consolidated Edison by 80.0% during the third quarter. GoalVest Advisory LLC now owns 306 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company's stock.

Wall Street Analyst Weigh In

ED has been the subject of several recent research reports. Barclays cut their price target on Consolidated Edison from $112.00 to $106.00 and set an "underweight" rating for the company in a report on Friday, August 7th. Morgan Stanley decreased their price objective on Consolidated Edison from $101.00 to $97.00 and set an "underweight" rating on the stock in a research note on Friday, September 18th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Consolidated Edison in a research report on Monday, October 19th. Evercore cut their price objective on Consolidated Edison from $116.00 to $112.00 in a research note on Thursday, October 8th. Finally, Wells Fargo & Company boosted their price objective on Consolidated Edison from $106.00 to $108.00 and gave the company an "equal weight" rating in a research note on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have assigned a Sell rating to the company's stock. According to data from MarketBeat, Consolidated Edison has an average rating of "Reduce" and an average target price of $108.09.

Consolidated Edison Stock Up 1.1%

Shares of ED stock opened at $116.81 on Friday. The company has a market capitalization of $43.20 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 4.00 and a beta of 0.26. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $117.65. The company's fifty day moving average price is $107.73 and its 200-day moving average price is $108.93. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.27 and a quick ratio of 1.17.

Consolidated Edison (NYSE:ED - Get Free Report) last released its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.07. The company had revenue of $4.07 billion for 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 earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Sell-side analysts expect that Consolidated Edison Inc will post 6.10 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Wednesday, November 18th will be given a $0.8875 dividend. This represents a $3.55 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Wednesday, November 18th. Consolidated Edison's payout ratio is presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.