Versor Investments LP Invests $735,000 in Consolidated Edison Inc $ED

Versor Investments LP bought a new position in shares of Consolidated Edison Inc (NYSE:ED) during the 4th quarter, Holdings Channel reports. The institutional investor bought 7,400 shares of the utilities provider’s stock, valued at approximately $735,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ED. JPL Wealth Management LLC acquired a new stake in shares of Consolidated Edison during the 3rd quarter worth about $26,000. Aventura Private Wealth LLC acquired a new stake in shares of Consolidated Edison during the 4th quarter worth about $27,000. Westfuller Advisors LLC acquired a new stake in shares of Consolidated Edison during the 4th quarter worth about $27,000. Dorato Capital Management acquired a new stake in shares of Consolidated Edison during the 4th quarter worth about $28,000. Finally, WealthCollab LLC raised its position in shares of Consolidated Edison by 68.4% during the 4th quarter. WealthCollab LLC now owns 315 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 128 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Trading Down 0.8%

Shares of ED stock opened at $106.04 on Thursday. The business’s 50 day moving average is $111.13 and its two-hundred day moving average is $105.37. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23. The company has a market capitalization of $39.08 billion, a P/E ratio of 17.85, a price-to-earnings-growth ratio of 2.71 and a beta of 0.29. 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 (NYSE:ED) last announced its earnings results on Thursday, May 7th. The utilities provider reported $2.18 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($0.10). Consolidated Edison had a net margin of 12.52% and a return on equity of 8.33%. The company had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter last year, the business posted $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities analysts forecast that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Dividend Announcement

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

Insider Buying and Selling at Consolidated Edison

In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of Consolidated Edison stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $113.94, for a total value of $218,992.68. Following the transaction, the senior vice president directly owned 32,453 shares in the company, valued at approximately $3,697,694.82. This trade represents a 5.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ED shares. Bank of America reissued an “underperform” rating and set a $104.00 target price on shares of Consolidated Edison in a research report on Wednesday, February 25th. Evercore set a $116.00 target price on Consolidated Edison in a research report on Monday. JPMorgan Chase & Co. raised their target price on Consolidated Edison from $107.00 to $113.00 and gave the stock an “underweight” rating in a research report on Thursday, March 12th. Wells Fargo & Company set a $98.00 price target on Consolidated Edison in a research report on Tuesday, April 21st. Finally, KeyCorp lifted their price target on Consolidated Edison from $96.00 to $97.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $109.46.

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.