USS Investment Management Ltd Buys 4,930 Shares of Consolidated Edison Inc $ED

USS Investment Management Ltd grew its stake in shares of Consolidated Edison Inc (NYSE:ED) by 8.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,176 shares of the utilities provider’s stock after purchasing an additional 4,930 shares during the quarter. USS Investment Management Ltd’s holdings in Consolidated Edison were worth $7,036,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ED. Basepoint Wealth LLC acquired a new stake in shares of Consolidated Edison in the 4th quarter valued at approximately $26,000. JPL Wealth Management LLC acquired a new position in Consolidated Edison during the third quarter worth $26,000. Aventura Private Wealth LLC acquired a new position in Consolidated Edison during the fourth quarter worth $27,000. Westfuller Advisors LLC bought a new stake in Consolidated Edison during the fourth quarter worth $27,000. Finally, Dorato Capital Management bought a new stake in Consolidated Edison during the fourth quarter worth $28,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of NYSE ED opened at $113.96 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.19 and a quick ratio of 1.09. The firm has a market cap of $42.00 billion, a price-to-earnings ratio of 19.18, a P/E/G ratio of 2.82 and a beta of 0.27. The stock’s fifty day moving average price is $107.77 and its two-hundred day moving average price is $107.67. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Wednesday, May 13th were paid a $0.8875 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $3.55 annualized dividend and a dividend yield of 3.1%. Consolidated Edison’s dividend payout ratio is 59.76%.

Consolidated Edison News Summary

Here are the key news stories impacting Consolidated Edison this week:

• Positive Sentiment: Con Edison is being seen as a defensive utility beneficiary during the heat wave, with elevated electricity usage likely supporting near-term demand for its services. Con Edison Calls for Power-Saving, Reduces Voltage by 8% in Some Areas — Update
• Positive Sentiment: The company elected Tali Farhadian to its Board of Directors, adding legal and regulatory expertise that could help with governance and utility oversight. Con Edison Elects New Board Member
• Neutral Sentiment: Con Edison asked customers in parts of NYC, Westchester and the Bronx to conserve energy and reduced voltage in some areas to prevent grid strain during peak demand. As heat wave rages, Con Ed urges nearly 90,000 people in NYC, Westchester to limit power use
• Neutral Sentiment: Reports of outages in Staten Island and the Bronx point to operational stress from the heat, but the disruptions appear localized rather than a broad system failure. Thousands without power as Con Edison outages hit Staten Island
• Negative Sentiment: Localized outages and emergency voltage reductions could raise investor concern about grid reliability and possible costs tied to storm/heat-related service issues. Con Edison shuts off power to parts of Bronx neighborhood on hottest day of the year

Wall Street Analyst Weigh In

ED has been the subject of a number of research analyst reports. KeyCorp lifted their price target on Consolidated Edison from $96.00 to $97.00 and gave the stock an “underweight” rating in a report on Tuesday, April 21st. Morgan Stanley restated an “underweight” rating on shares of Consolidated Edison in a research note on Wednesday, June 24th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $105.00 target price on shares of Consolidated Edison in a report on Thursday, May 14th. JPMorgan Chase & Co. upped their price target on shares of Consolidated Edison from $107.00 to $113.00 and gave the company an “underweight” rating in a research note on Thursday, March 12th. Finally, Weiss Ratings raised shares of Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $108.07.

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.