Caisse de depot et placement du Quebec Makes New $77.09 Million Investment in Consolidated Edison Inc $ED

Caisse de depot et placement du Quebec acquired a new position in shares of Consolidated Edison Inc (NYSE:ED) in the 2nd quarter, HoldingsChannel reports. The fund acquired 696,829 shares of the utilities provider’s stock, valued at approximately $77,090,000.

Several other hedge funds also recently modified their holdings of ED. BlackRock Inc. acquired a new position in shares of Consolidated Edison during the 2nd quarter valued at $4,609,491,000. Deutsche Bank AG acquired a new stake in Consolidated Edison in the second quarter worth $749,184,000. Lazard Asset Management LLC increased its stake in Consolidated Edison by 121,543.9% in the third quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock valued at $599,155,000 after purchasing an additional 5,955,653 shares in the last quarter. Norges Bank bought a new stake in Consolidated Edison in the fourth quarter valued at $489,806,000. Finally, Legal & General Group Plc acquired a new position in shares of Consolidated Edison during the second quarter valued at about $494,352,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $106.63 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 1.04. The stock’s fifty day simple moving average is $109.97 and its two-hundred day simple moving average is $109.90. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.23. The stock 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.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $3.60 billion. During the same period in the previous year, the firm earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, analysts forecast that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ED. Morgan Stanley cut their price objective on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a research report on Friday, August 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Consolidated Edison in a research report on Tuesday, July 21st. Wells Fargo & Company upped their price target on Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Barclays cut their price target on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a report on Friday, August 7th. Finally, The Goldman Sachs Group reissued a “sell” rating and issued a $105.00 price objective on shares of Consolidated Edison in a research note on Thursday, May 14th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $108.93.

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.