The Manufacturers Life Insurance Company Invests $27.26 Million in Consolidated Edison Inc $ED

The Manufacturers Life Insurance Company acquired a new position in Consolidated Edison Inc (NYSE:ED) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 246,409 shares of the utilities provider’s stock, valued at approximately $27,260,000. The Manufacturers Life Insurance Company owned 0.07% of Consolidated Edison at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Basepoint Wealth LLC purchased a new position in Consolidated Edison in the fourth quarter worth about $26,000. JPL Wealth Management LLC purchased a new stake in shares of Consolidated Edison during the 3rd quarter valued at about $26,000. Sachetta LLC lifted 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 worth $27,000 after purchasing an additional 102 shares during the period. Aberdeen Wealth Management LLC bought a new position in shares of Consolidated Edison in the 2nd quarter worth approximately $27,000. Finally, Keating Financial Advisory Services Inc. purchased a new position in shares of Consolidated Edison in the second quarter worth approximately $30,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Consolidated Edison in a research report on Tuesday, July 21st. Wells Fargo & Company lifted their price target on shares of Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Morgan Stanley cut 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 price objective on Consolidated Edison in a research note on Tuesday, June 23rd. Finally, Evercore restated a “positive” rating and issued a $112.00 price objective on shares of Consolidated Edison in a research note on Monday, August 17th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Consolidated Edison currently has an average rating of “Reduce” and a consensus target price of $108.93.

Consolidated Edison Trading Down 1.3%

Consolidated Edison stock opened at $106.63 on Friday. The firm has a 50 day moving average of $109.97 and a 200 day moving average of $109.90. The firm 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. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $116.23. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED) last released its earnings results 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 analysts’ expectations of $3.60 billion. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. During the same quarter last year, the business earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, research analysts predict that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Wednesday, August 19th will be given a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Wednesday, August 19th. Consolidated Edison’s dividend payout ratio (DPR) is presently 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.