NEOS Investment Management LLC Acquires 6,431 Shares of Consolidated Edison Inc $ED

NEOS Investment Management LLC boosted its holdings in Consolidated Edison Inc (NYSE:ED) by 12.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,040 shares of the utilities provider’s stock after purchasing an additional 6,431 shares during the period. NEOS Investment Management LLC’s holdings in Consolidated Edison were worth $6,532,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ED. Burford Brothers Inc. raised its stake in shares of Consolidated Edison by 487.3% during the 2nd quarter. Burford Brothers Inc. now owns 18,605 shares of the utilities provider’s stock worth $2,058,000 after purchasing an additional 15,437 shares during the period. Continuum Advisory LLC bought a new position in Consolidated Edison during the second quarter valued at about $124,000. Nykredit A S purchased a new stake in Consolidated Edison during the second quarter worth about $24,797,000. B. Metzler seel. Sohn & Co. AG increased its holdings in Consolidated Edison by 6.0% during the second quarter. B. Metzler seel. Sohn & Co. AG now owns 32,389 shares of the utilities provider’s stock worth $3,583,000 after buying an additional 1,844 shares during the last quarter. Finally, Symphony Financial Ltd. Co. increased its holdings in Consolidated Edison by 3.1% during the second quarter. Symphony Financial Ltd. Co. now owns 15,978 shares of the utilities provider’s stock worth $1,794,000 after buying an additional 480 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ED shares. Mizuho set a $114.00 target price on shares of Consolidated Edison in a research note on Monday, July 27th. Wells Fargo & Company raised their price target on shares of Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Argus set a $112.00 price target on shares of Consolidated Edison in a report on Tuesday, June 23rd. The Goldman Sachs Group reiterated a “sell” rating and issued a $105.00 price objective on shares of Consolidated Edison in a research note on Thursday, May 14th. Finally, Morgan Stanley reduced their price objective on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a report on Friday, August 21st. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat.com, Consolidated Edison has an average rating of “Reduce” and a consensus target price of $108.93.

Consolidated Edison Price Performance

NYSE ED opened at $107.26 on Friday. The company has a market cap of $39.67 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 3.71 and a beta of 0.27. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $116.23. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 1.04. The firm’s 50-day simple moving average is $109.78 and its two-hundred day simple moving average is $109.80.

Consolidated Edison (NYSE:ED) last posted its earnings results 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. The firm had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.60 billion. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. During the same quarter last year, the company earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Research analysts predict that Consolidated Edison Inc will post 6.1 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Wednesday, August 19th will be issued a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 19th. Consolidated Edison’s dividend payout ratio (DPR) is presently 58.29%.

Consolidated Edison Company 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.