Canada Pension Plan Investment Board Takes Position in Consolidated Edison Inc $ED

Canada Pension Plan Investment Board bought a new stake in Consolidated Edison Inc (NYSE:ED) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 602,421 shares of the utilities provider’s stock, valued at approximately $66,646,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Aberdeen Wealth Management LLC bought a new position in Consolidated Edison during the second quarter worth about $27,000. Sachetta LLC grew its stake in shares of Consolidated Edison by 72.9% in the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 102 shares during the period. JPL Wealth Management LLC bought a new stake in shares of Consolidated Edison in the 3rd quarter valued at approximately $26,000. Basepoint Wealth LLC acquired a new position in shares of Consolidated Edison in the 4th quarter worth approximately $26,000. Finally, Keating Financial Advisory Services Inc. acquired a new position in shares of Consolidated Edison in the 2nd quarter worth approximately $30,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Trading Down 1.3%

ED stock opened at $106.63 on Friday. The business 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 stock has a market capitalization of $39.43 billion, a price-to-earnings ratio of 17.51, a P/E/G ratio of 2.74 and a beta of 0.27. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.27 and a quick ratio of 1.17.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The company 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 previous year, the firm earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Analysts expect that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors 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 payout ratio is currently 58.29%.

Wall Street Analyst Weigh In

ED has been the topic of several recent analyst reports. KeyCorp decreased their price target on Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating on the stock in a research note on Thursday, July 23rd. Evercore reiterated a “positive” rating and set a $112.00 price objective on shares of Consolidated Edison in a research note on Monday, August 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Consolidated Edison in a report on Tuesday, July 21st. The Goldman Sachs Group restated a “sell” rating and issued a $105.00 target price on shares of Consolidated Edison in a research note on Thursday, May 14th. Finally, Barclays lowered their target price on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a report on Friday, August 7th. 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 a consensus rating of “Reduce” and an average price target of $108.93.

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.