Police & Firemen s Retirement System of New Jersey Acquires 4,152 Shares of Consolidated Edison Inc $ED

Police & Firemen s Retirement System of New Jersey raised its stake in Consolidated Edison Inc (NYSE:ED) by 8.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 54,731 shares of the utilities provider’s stock after buying an additional 4,152 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Consolidated Edison were worth $5,492,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in Consolidated Edison by 6.1% in the 2nd quarter. Geode Capital Management LLC now owns 9,796,782 shares of the utilities provider’s stock worth $979,204,000 after purchasing an additional 566,358 shares during the period. ABC Arbitrage SA bought a new stake in shares of Consolidated Edison in the second quarter valued at about $4,432,000. Tobam boosted its position in shares of Consolidated Edison by 284.8% during the second quarter. Tobam now owns 61,662 shares of the utilities provider’s stock worth $6,188,000 after buying an additional 45,639 shares during the period. Forsta AP Fonden grew its holdings in shares of Consolidated Edison by 6.9% during the second quarter. Forsta AP Fonden now owns 76,000 shares of the utilities provider’s stock worth $7,627,000 after buying an additional 4,900 shares in the last quarter. Finally, Jupiter Asset Management Ltd. raised its position in Consolidated Edison by 4.7% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 455,028 shares of the utilities provider’s stock valued at $45,662,000 after buying an additional 20,500 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ED shares. Mizuho upped their price target on Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Morgan Stanley increased their target price on shares of Consolidated Edison from $93.00 to $100.00 and gave the stock an “underweight” rating in a report on Wednesday, October 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a research note on Tuesday. Wells Fargo & Company raised shares of Consolidated Edison to a “hold” rating in a research report on Tuesday, October 28th. Finally, KeyCorp raised their price objective on Consolidated Edison from $88.00 to $90.00 and gave the company an “underweight” rating in a report on Wednesday, October 15th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $104.75.

Consolidated Edison Stock Up 0.6%

Shares of ED stock opened at $101.60 on Friday. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week high of $114.87. The stock has a market cap of $36.67 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 2.70 and a beta of 0.32. The firm’s 50-day moving average is $98.97 and its 200-day moving average is $101.27. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.14. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.During the same quarter in the prior year, the firm earned $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Sell-side analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $3.40 annualized dividend and a yield of 3.3%. Consolidated Edison’s dividend payout ratio (DPR) is currently 59.44%.

Consolidated Edison Profile

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.