VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 340,300 Consolidated Edison Inc $ED

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Consolidated Edison Inc (NYSE:ED) in the 2nd quarter, HoldingsChannel reports. The fund bought 340,300 shares of the utilities provider’s stock, valued at approximately $34,149,000.

Several other hedge funds have also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Consolidated Edison by 2.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 250,014 shares of the utilities provider’s stock worth $27,649,000 after purchasing an additional 6,869 shares during the period. Flagship Harbor Advisors LLC purchased a new stake in Consolidated Edison in the 1st quarter worth approximately $217,000. AG2R LA Mondiale Gestion D Actifs acquired a new stake in shares of Consolidated Edison during the 1st quarter valued at $1,631,000. GAMMA Investing LLC grew its holdings in shares of Consolidated Edison by 45.0% during the 1st quarter. GAMMA Investing LLC now owns 9,242 shares of the utilities provider’s stock valued at $1,022,000 after acquiring an additional 2,869 shares in the last quarter. Finally, RDA Financial Network acquired a new position in shares of Consolidated Edison in the second quarter worth $367,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ED shares. Barclays lifted their price objective on Consolidated Edison from $101.00 to $107.00 and gave the company an “underweight” rating in a research report on Wednesday, August 13th. Mizuho boosted their price target on Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Evercore ISI initiated coverage on Consolidated Edison in a report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 price objective on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a research note on Wednesday, October 8th. Finally, Morgan Stanley dropped their price target on shares of Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating on the stock in a research note on Thursday, September 25th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $105.92.

Consolidated Edison Stock Up 0.1%

Shares of Consolidated Edison stock opened at $101.14 on Monday. Consolidated Edison Inc has a 12-month low of $87.28 and a 12-month high of $114.87. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. The stock has a 50 day moving average price of $99.41 and a two-hundred day moving average price of $102.69. The stock has a market capitalization of $36.48 billion, a P/E ratio of 18.36, a PEG ratio of 2.82 and a beta of 0.32.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same period in the previous year, the company earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be paid a $0.85 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.4%. Consolidated Edison’s payout ratio is presently 61.71%.

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.