VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Consolidated Edison Inc $ED

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Consolidated Edison Inc (NYSE:ED) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 483,552 shares of the utilities provider’s stock, valued at approximately $53,495,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.13% of Consolidated Edison as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. QRG Capital Management Inc. increased its holdings in Consolidated Edison by 16.9% during the 1st quarter. QRG Capital Management Inc. now owns 204,989 shares of the utilities provider’s stock valued at $23,201,000 after purchasing an additional 29,635 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in Consolidated Edison by 9.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 253,230 shares of the utilities provider’s stock worth $24,865,000 after purchasing an additional 20,972 shares in the last quarter. North Dakota State Investment Board acquired a new position in Consolidated Edison in the fourth quarter worth $1,228,000. M3 Wealth Management LLC bought a new stake in shares of Consolidated Edison during the fourth quarter worth $1,380,000. Finally, SteelPeak Wealth LLC bought a new stake in shares of Consolidated Edison during the first quarter worth $3,751,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Down 0.0%

NYSE ED opened at $107.26 on Monday. The stock has a market capitalization of $39.67 billion, a P/E 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 debt-to-equity ratio of 1.04, a quick ratio of 1.17 and a current ratio of 1.27. The stock has a fifty day moving average of $109.78 and a 200-day moving average of $109.77.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.60 billion. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.During the same quarter in the prior year, the firm posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, equities research analysts forecast that Consolidated Edison Inc will post 6.1 EPS for the current 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 paid a $0.8875 dividend. This represents a $3.55 annualized dividend 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 58.29%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Barclays cut their price target on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a report on Friday, August 7th. The Goldman Sachs Group reissued a “sell” rating and set a $105.00 price objective on shares of Consolidated Edison in a report on Thursday, May 14th. Morgan Stanley lowered their price objective on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a research report on Friday, August 21st. Argus set a $112.00 target price on shares of Consolidated Edison in a research note on Tuesday, June 23rd. Finally, Wells Fargo & Company upped their target price on shares of Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average 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.