246,409 Shares in Consolidated Edison Inc $ED Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new stake in shares of Consolidated Edison Inc (NYSE:ED) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 246,409 shares of the utilities provider’s stock, valued at approximately $27,260,000.

Other large investors also recently added to or reduced their stakes in the company. GW&K Investment Management LLC grew its holdings in Consolidated Edison by 28.5% during the 4th quarter. GW&K Investment Management LLC now owns 419 shares of the utilities provider’s stock valued at $42,000 after buying an additional 93 shares in the last quarter. bLong Financial LLC lifted its holdings in shares of Consolidated Edison by 1.3% in the fourth quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider’s stock worth $772,000 after buying an additional 100 shares in the last quarter. Sachetta LLC lifted its holdings in shares of Consolidated Edison by 72.9% in the first quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock worth $27,000 after buying an additional 102 shares in the last quarter. Frank Rimerman Advisors LLC boosted its position in shares of Consolidated Edison by 1.3% during the first quarter. Frank Rimerman Advisors LLC now owns 8,275 shares of the utilities provider’s stock worth $937,000 after acquiring an additional 105 shares during the last quarter. Finally, Venture Visionary Partners LLC boosted its position in shares of Consolidated Edison by 2.0% during the fourth quarter. Venture Visionary Partners LLC now owns 5,606 shares of the utilities provider’s stock worth $557,000 after acquiring an additional 108 shares during the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on ED shares. Evercore reiterated a “positive” rating and issued a $112.00 price target on shares of Consolidated Edison in a report on Monday, August 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Consolidated Edison in a report on Tuesday, July 21st. Morgan Stanley cut their price objective on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a research report on Friday, August 21st. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $105.00 target price on shares of Consolidated Edison in a report on Thursday, May 14th. Finally, Barclays decreased their target price on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a research report on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $108.93.

Consolidated Edison Trading Down 1.3%

ED stock opened at $106.63 on Friday. The firm has a fifty day moving average price of $109.97 and a 200 day moving average price of $109.90. Consolidated Edison Inc has a fifty-two week low of $94.96 and a fifty-two week high of $116.23. The firm has a market cap of $39.43 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 2.74 and a beta of 0.27. 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 (NYSE:ED) last released its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter in the prior year, the firm earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Sell-side analysts anticipate that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

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

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.