Public Employees Retirement System of Ohio Has $12.07 Million Stock Holdings in Consolidated Edison Inc $ED

Key Points

• The Public Employees Retirement System of Ohio increased its stake in Consolidated Edison Inc by 10.8%, now owning $12.07 million worth of shares after purchasing additional stock in the second quarter.
• Consolidated Edison recently announced a quarterly dividend of $0.85 per share, translating to an annualized yield of 3.4% and a payout ratio of 61.71%.
• The company reported a quarterly earnings per share (EPS) of $0.67, exceeding analysts' estimates, with FY 2025 guidance set between $5.500 and $5.700 EPS.

Public Employees Retirement System of Ohio raised its stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 10.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 120,251 shares of the utilities provider's stock after purchasing an additional 11,704 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Consolidated Edison were worth $12,067,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in ED. Revolve Wealth Partners LLC boosted its holdings in Consolidated Edison by 13.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider's stock valued at $332,000 after purchasing an additional 441 shares in the last quarter. 111 Capital acquired a new stake in Consolidated Edison during the fourth quarter valued at approximately $381,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Consolidated Edison by 1.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 21,661 shares of the utilities provider's stock valued at $2,395,000 after purchasing an additional 226 shares in the last quarter. Boston Common Asset Management LLC acquired a new stake in Consolidated Edison during the first quarter valued at approximately $232,000. Finally, Versant Capital Management Inc boosted its holdings in Consolidated Edison by 194.5% during the first quarter. Versant Capital Management Inc now owns 1,752 shares of the utilities provider's stock valued at $194,000 after purchasing an additional 1,157 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

ED opened at $99.63 on Friday. The company has a fifty day moving average price of $100.30 and a two-hundred day moving average price of $103.53. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. Consolidated Edison Inc has a 52 week low of $87.28 and a 52 week high of $114.87. The firm has a market capitalization of $35.93 billion, a PE ratio of 18.08, a P/E/G ratio of 2.73 and a beta of 0.28.

Consolidated Edison (NYSE:ED - Get Free Report) last released its earnings results on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.01. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the previous year, the business earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Wednesday, August 13th. Consolidated Edison's payout ratio is currently 61.71%.

Analyst Ratings Changes

ED has been the topic of a number of recent research reports. Mizuho lifted their price objective on Consolidated Edison from $107.00 to $112.00 and gave the company an "outperform" rating in a report on Friday, August 8th. KeyCorp reiterated an "overweight" rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Scotiabank lifted their target price on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a "sector perform" rating in a research note on Monday, August 11th. Barclays lifted their target price on shares of Consolidated Edison from $101.00 to $107.00 and gave the company an "underweight" rating in a research note on Wednesday, August 13th. Finally, Morgan Stanley cut their target price on shares of Consolidated Edison from $95.00 to $93.00 and set an "underweight" rating for the company in a research note on Thursday. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $105.91.

Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.

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