Pacer Advisors Inc. Increases Stake in Consolidated Edison Inc $ED

Pacer Advisors Inc. lifted its position in Consolidated Edison Inc (NYSE:ED) by 27.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 38,682 shares of the utilities provider’s stock after buying an additional 8,269 shares during the period. Pacer Advisors Inc.’s holdings in Consolidated Edison were worth $3,842,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in 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 purchasing an additional 461,108 shares during the period. State Street Corp lifted its position in shares of Consolidated Edison by 3.6% in the 4th quarter. State Street Corp now owns 24,905,440 shares of the utilities provider’s stock worth $2,473,608,000 after purchasing an additional 854,868 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Consolidated Edison by 3.4% during 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 purchasing an additional 205,041 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Consolidated Edison by 11.0% during 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 purchasing an additional 514,178 shares in the last quarter. Finally, Norges Bank purchased a new position in Consolidated Edison during the fourth quarter valued at approximately $489,806,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Price Performance

NYSE ED opened at $106.81 on Tuesday. The firm’s fifty day simple moving average is $107.68 and its two-hundred day simple moving average is $106.81. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $116.23. The firm has a market capitalization of $39.36 billion, a P/E ratio of 17.98, a P/E/G ratio of 2.70 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, May 7th. The utilities provider reported $2.18 EPS for the quarter, missing the consensus estimate of $2.28 by ($0.10). The business had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Consolidated Edison had a net margin of 12.52% and a return on equity of 8.33%. During the same quarter in the prior year, the company posted $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Analysts forecast that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th were issued a $0.8875 dividend. This represents a $3.55 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Wednesday, May 13th. Consolidated Edison’s dividend payout ratio (DPR) is currently 59.76%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Bank of America reissued an “underperform” rating and issued a $104.00 price objective on shares of Consolidated Edison in a research note on Wednesday, February 25th. Wells Fargo & Company set a $98.00 price target on Consolidated Edison in a report on Tuesday, April 21st. The Goldman Sachs Group reissued a “sell” rating and issued a $105.00 price target on shares of Consolidated Edison in a research report on Thursday, May 14th. Weiss Ratings upgraded Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Finally, Citigroup reaffirmed a “buy” rating on shares of Consolidated Edison in a research report on Monday, February 23rd. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $107.79.

Consolidated Edison 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.