Consolidated Edison Inc $ED Shares Newly Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new stake in Consolidated Edison Inc (NYSE:ED) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 174,924 shares of the utilities provider’s stock, valued at approximately $17,879,000.

Other hedge funds have also recently made changes to their positions in the company. Nykredit A S bought a new stake in Consolidated Edison during the 2nd quarter worth approximately $23,566,000. SteelPeak Wealth LLC bought a new position in shares of Consolidated Edison during the first quarter valued at $3,751,000. SWS Partners bought a new position in shares of Consolidated Edison during the second quarter valued at $3,060,000. Tidal Investments LLC raised its stake in shares of Consolidated Edison by 75.5% during the second quarter. Tidal Investments LLC now owns 35,439 shares of the utilities provider’s stock valued at $3,921,000 after acquiring an additional 15,243 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Consolidated Edison during the second quarter worth $53,495,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Trading Down 1.5%

NYSE:ED opened at $116.76 on Wednesday. The firm’s fifty day moving average is $108.15 and its 200-day moving average is $109.10. 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 Inc has a 52 week low of $94.96 and a 52 week high of $118.79. The firm has a market cap of $43.18 billion, a P/E ratio of 20.46, a P/E/G ratio of 4.10 and a beta of 0.23.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 earnings per share 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 analysts’ expectations of $3.60 billion. During the same period in the prior year, the company posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities analysts expect that Consolidated Edison Inc will post 6.10 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Wednesday, November 18th will be issued a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Wednesday, November 18th. Consolidated Edison’s dividend payout ratio (DPR) is presently 58.29%.

Analyst Ratings Changes

Several brokerages recently weighed in on ED. Bank of America reduced their price objective on shares of Consolidated Edison from $105.00 to $96.00 in a research note on Friday, October 2nd. Royal Bank Of Canada lowered their target price on Consolidated Edison from $110.00 to $109.00 in a research report on Monday, October 26th. KeyCorp cut their target price on Consolidated Edison from $94.00 to $87.00 and set an “underweight” rating on the stock in a report on Tuesday, October 13th. LADENBURG THALM/SH SH lifted their target price on Consolidated Edison from $101.00 to $113.50 and gave the stock a “neutral” rating in a report on Monday, July 13th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $105.00 price target (down from $121.00) on shares of Consolidated Edison in a research report on Tuesday, October 6th. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $108.09.

Consolidated Edison Company Profile

Consolidated Edison, Inc is a diversified energy company headquartered in New York City. Through its regulated utility subsidiaries, the company delivers electricity, natural gas and steam to residential, commercial and industrial customers.

Its principal subsidiary, Consolidated Edison Company of New York, provides electric service throughout New York City and Westchester County, along with gas service in Manhattan, the Bronx, parts of Queens and Westchester County, and steam service in parts of Manhattan.