Oregon Public Employees Retirement Fund Boosts Holdings in Consolidated Edison Inc $ED

Oregon Public Employees Retirement Fund raised its position in Consolidated Edison Inc (NYSE:ED) by 32.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 41,261 shares of the utilities provider’s stock after buying an additional 10,172 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Consolidated Edison were worth $4,148,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC boosted its holdings in shares of Consolidated Edison by 13.6% in the second quarter. Golden State Wealth Management LLC now owns 837 shares of the utilities provider’s stock valued at $84,000 after acquiring an additional 100 shares in the last quarter. Certuity LLC lifted its position in Consolidated Edison by 2.7% in the second quarter. Certuity LLC now owns 3,743 shares of the utilities provider’s stock valued at $376,000 after purchasing an additional 100 shares during the period. Exchange Traded Concepts LLC boosted its holdings in Consolidated Edison by 1.0% in the 2nd quarter. Exchange Traded Concepts LLC now owns 11,050 shares of the utilities provider’s stock valued at $1,109,000 after purchasing an additional 109 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings in Consolidated Edison by 53.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 109 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in Consolidated Edison by 1.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 8,896 shares of the utilities provider’s stock worth $893,000 after purchasing an additional 110 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of NYSE ED opened at $99.21 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.08 and a debt-to-equity ratio of 1.03. The firm’s 50-day moving average price is $98.87 and its two-hundred day moving average price is $99.73. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week high of $114.87. The stock has a market capitalization of $35.81 billion, a P/E ratio of 17.34, a P/E/G ratio of 2.71 and a beta of 0.39.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.14. The business had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.22 billion. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.27%.During the same period in the prior year, the firm earned $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. As a group, sell-side analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Wednesday, November 19th. Consolidated Edison’s dividend payout ratio (DPR) is presently 59.44%.

Analyst Upgrades and Downgrades

ED has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their price target on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a report on Friday, December 12th. Cowen started coverage on Consolidated Edison in a report on Thursday. They issued a “hold” rating for the company. Morgan Stanley set a $92.00 target price on shares of Consolidated Edison in a research report on Tuesday, December 16th. TD Cowen started coverage on shares of Consolidated Edison in a report on Friday. They issued a “hold” rating and a $105.00 price target for the company. Finally, Royal Bank Of Canada started coverage on shares of Consolidated Edison in a research note on Wednesday. They issued a “sector perform” rating and a $114.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, Consolidated Edison presently has a consensus rating of “Reduce” and a consensus price target of $103.53.

Insider Activity

In other news, Director John F. Killian sold 2,276 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $96.89, for a total transaction of $220,521.64. Following the completion of the transaction, the director owned 38,661 shares in the company, valued at approximately $3,745,864.29. This represents a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.19% of the company’s stock.

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.