Flputnam Investment Management Co. Purchases New Shares in Consolidated Edison Inc $ED

Key Points

• Flputnam Investment Management purchased 20,361 shares of Consolidated Edison, valued at approximately $2.25 million. Institutional investors collectively own 66.29% of the utility company.
• Analyst sentiment remains cautious, with an average rating of “Reduce” and a consensus price target of $108.80; three analysts rate the stock a Buy, six a Hold, and six a Sell.
• Consolidated Edison exceeded quarterly earnings and revenue estimates, reporting $0.83 in EPS and $4.07 billion in revenue. The company also declared a quarterly dividend of $0.8875 per share, representing a 3.3% annualized yield.

Flputnam Investment Management Co. purchased a new position in shares of 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 & Exchange Commission. The firm purchased 20,361 shares of the utilities provider's stock, valued at approximately $2,253,000.

Other large investors also recently bought and sold shares of the company. Sachetta LLC raised its stake in shares of Consolidated Edison by 72.9% during the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider's stock worth $27,000 after buying an additional 102 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in shares of Consolidated Edison during the 3rd quarter worth $26,000. Basepoint Wealth LLC acquired a new position in shares of Consolidated Edison during the 4th quarter worth $26,000. WealthCollab LLC grew its stake in shares of Consolidated Edison by 68.4% during the 4th quarter. WealthCollab LLC now owns 315 shares of the utilities provider's stock worth $31,000 after purchasing an additional 128 shares during the period. Finally, Turning Point Benefit Group Inc. purchased a new position in shares of Consolidated Edison in the 3rd quarter valued at about $32,000. Hedge funds and other institutional investors own 66.29% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ED shares. Mizuho set a $114.00 target price on shares of Consolidated Edison in a research report on Monday, July 27th. KeyCorp reduced their price objective on Consolidated Edison from $97.00 to $94.00 and set an "underweight" rating for the company in a report on Thursday, July 23rd. Barclays lowered their price target on shares of Consolidated Edison from $112.00 to $106.00 and set an "underweight" rating on the stock in a research report on Friday, August 7th. Morgan Stanley reaffirmed an "underweight" rating on shares of Consolidated Edison in a research note on Wednesday, July 22nd. Finally, Evercore restated a "positive" rating and set a $112.00 target price on shares of Consolidated Edison in a research report on Monday. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $108.80.

Consolidated Edison Price Performance

ED stock opened at $108.91 on Tuesday. The firm has a market cap of $40.28 billion, a P/E ratio of 17.88, a price-to-earnings-growth ratio of 2.83 and a beta of 0.27. The stock has a 50-day simple moving average of $109.90 and a 200-day simple moving average of $109.85. Consolidated Edison Inc has a 1 year low of $94.96 and a 1 year high of $116.23. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.17 and a current ratio of 1.27.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.07. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.60 billion. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. During the same period in the prior year, the firm earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, equities analysts predict that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Wednesday, August 19th. This represents a $3.55 annualized dividend and a yield of 3.3%. Consolidated Edison's payout ratio is currently 58.29%.

About Consolidated Edison

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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