Meeder Advisory Services Inc. Buys Shares of 12,836 Consolidated Edison Inc $ED

Meeder Advisory Services Inc. bought a new stake in shares of Consolidated Edison Inc (NYSE:ED) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 12,836 shares of the utilities provider’s stock, valued at approximately $1,420,000.

A number of other hedge funds have also made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Consolidated Edison in the second quarter worth $4,609,491,000. Deutsche Bank AG bought a new position in Consolidated Edison during the 2nd quarter valued at $749,184,000. Lazard Asset Management LLC boosted its stake in Consolidated Edison by 121,543.9% during the 3rd quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock valued at $599,155,000 after acquiring an additional 5,955,653 shares during the last quarter. Norges Bank acquired a new position in Consolidated Edison during the 4th quarter worth $489,806,000. Finally, Bank of New York Mellon Corp acquired a new position in Consolidated Edison during the 2nd quarter worth $231,014,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ED shares. KeyCorp dropped their target price on shares of Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating for the company in a research report on Thursday, July 23rd. Wells Fargo & Company lifted 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 decreased their price target on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a research note on Friday, August 7th. Argus set a $112.00 price objective on Consolidated Edison in a research note on Tuesday, June 23rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Consolidated Edison in a research note on Tuesday, July 21st. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, Consolidated Edison has an average rating of “Reduce” and an average target price of $108.80.

Consolidated Edison Stock Performance

Consolidated Edison stock opened at $108.04 on Thursday. 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 Inc has a 12 month low of $94.96 and a 12 month high of $116.23. The company has a fifty day moving average price of $109.96 and a two-hundred day moving average price of $109.89. The company has a market cap of $39.96 billion, a PE ratio of 17.74, a P/E/G ratio of 2.83 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share 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 company had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $3.60 billion. During the same period in the prior year, the company earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Research analysts expect that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Dividend Announcement

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

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.