Public Employees Retirement System of Ohio bought a new position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 114,116 shares of the utilities provider's stock, valued at approximately $12,625,000.
Several other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in Consolidated Edison in the second quarter valued at approximately $4,609,491,000. Deutsche Bank AG purchased a new stake in shares of Consolidated Edison during the 2nd quarter worth approximately $749,184,000. Lazard Asset Management LLC boosted its holdings in shares of Consolidated Edison by 121,543.9% in the 3rd quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider's stock valued at $599,155,000 after buying an additional 5,955,653 shares in the last quarter. Norges Bank acquired a new position in shares of Consolidated Edison in the 4th quarter valued at $489,806,000. Finally, Legal & General Group Plc purchased a new position in shares of Consolidated Edison in the 2nd quarter valued at $494,352,000. Hedge funds and other institutional investors own 66.29% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. Barclays reduced their price target on shares of Consolidated Edison from $112.00 to $106.00 and set an "underweight" rating for the company in a research report on Friday, August 7th. Mizuho set a $114.00 target price on Consolidated Edison in a research report on Monday, July 27th. Morgan Stanley reduced their target price on Consolidated Edison from $105.00 to $101.00 and set an "underweight" rating for the company in a report on Friday, August 21st. Weiss Ratings reissued a "buy (b)" rating on shares of Consolidated Edison in a research report on Tuesday, July 21st. Finally, Wells Fargo & Company raised their price target on Consolidated Edison from $106.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Friday, August 7th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price of $108.93.
Get Our Latest Stock Report on Consolidated Edison
Consolidated Edison Trading Down 0.1%
NYSE ED opened at $107.40 on Monday. The firm's fifty day moving average is $109.99 and its two-hundred day moving average is $109.90. Consolidated Edison Inc has a one year low of $94.96 and a one 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. The firm has a market cap of $39.72 billion, a PE ratio of 17.64, a P/E/G ratio of 2.73 and a beta of 0.27.
Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.07. The firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.60 billion. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.During the same quarter last year, the company posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Analysts expect that Consolidated Edison Inc will post 6.09 earnings per share for the current year.
Consolidated Edison Dividend Announcement
The firm also recently disclosed 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 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 19th. Consolidated Edison's dividend payout ratio is currently 58.29%.
Consolidated Edison Company Profile
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Free Report)
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.
See Also
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