Public Employees Retirement System of Ohio Acquires New Holdings in Consolidated Edison Inc $ED

Public Employees Retirement System of Ohio acquired a new position in shares of Consolidated Edison Inc (NYSE:ED) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 114,116 shares of the utilities provider’s stock, valued at approximately $12,625,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ED. MASTERINVEST Kapitalanlage GmbH purchased a new stake in shares of Consolidated Edison during the second quarter worth about $213,000. Proficio Capital Partners LLC acquired a new stake in Consolidated Edison in the 2nd quarter worth about $209,000. Pure Financial Advisors LLC acquired a new stake in Consolidated Edison in the 2nd quarter worth about $686,000. Payne Capital Management LLC purchased a new stake in Consolidated Edison in the 2nd quarter valued at about $229,000. Finally, Corient Private Wealth LP purchased a new stake in Consolidated Edison in the 2nd quarter valued at about $25,422,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Down 0.1%

ED opened at $107.40 on Monday. Consolidated Edison Inc has a 1 year low of $94.96 and a 1 year high of $116.23. The firm has a 50 day moving average price of $109.99 and a 200 day moving average price of $109.90. 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 company has a market cap of $39.72 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 2.73 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. The company had revenue of $4.07 billion during the quarter, compared to analyst estimates of $3.60 billion. During the same quarter in the prior year, the business earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Sell-side analysts expect that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Wednesday, August 19th will be issued a $0.8875 dividend. This represents a $3.55 annualized dividend and a yield of 3.3%. The ex-dividend date is Wednesday, August 19th. Consolidated Edison’s dividend payout ratio is currently 58.29%.

Analysts Set New Price Targets

ED has been the topic of several recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Consolidated Edison in a report on Tuesday, July 21st. Barclays lowered their target price on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a report on Friday, August 7th. Argus set a $112.00 price target on shares of Consolidated Edison in a research report on Tuesday, June 23rd. Wells Fargo & Company increased their price target on shares of Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $105.00 price target on shares of Consolidated Edison in a report on Thursday, May 14th. 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $108.93.

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.