Versor Investments LP Acquires New Stake in Consolidated Edison Inc $ED

Versor Investments LP acquired a new stake in Consolidated Edison Inc (NYSE:ED) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 7,400 shares of the utilities provider’s stock, valued at approximately $735,000.

Several other hedge funds have also recently added to or reduced their stakes in ED. Lazard Asset Management LLC raised its stake in Consolidated Edison by 121,543.9% in 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 purchasing an additional 5,955,653 shares during the last quarter. PFA Pension Forsikringsaktieselskab acquired a new position in Consolidated Edison in the 4th quarter valued at $113,977,000. AQR Capital Management LLC raised its stake in Consolidated Edison by 104.6% in the 3rd quarter. AQR Capital Management LLC now owns 1,905,678 shares of the utilities provider’s stock valued at $190,530,000 after purchasing an additional 974,419 shares during the last quarter. Qube Research & Technologies Ltd raised its stake in Consolidated Edison by 94.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,904,876 shares of the utilities provider’s stock valued at $191,478,000 after purchasing an additional 926,716 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Consolidated Edison by 344.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 891,895 shares of the utilities provider’s stock valued at $88,583,000 after purchasing an additional 691,304 shares during the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

Shares of ED opened at $106.04 on Thursday. The stock has a 50-day simple moving average of $111.13 and a 200-day simple moving average of $105.37. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.19. The stock has a market capitalization of $39.08 billion, a PE ratio of 17.85, a PEG ratio of 2.71 and a beta of 0.29. Consolidated Edison Inc has a 1 year low of $94.96 and a 1 year high of $116.23.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, May 7th. The utilities provider reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.10). The company had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Consolidated Edison had a net margin of 12.52% and a return on equity of 8.33%. During the same quarter in the previous year, the business posted $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, analysts predict that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th will be paid a $0.8875 dividend. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Wednesday, May 13th. Consolidated Edison’s dividend payout ratio (DPR) is presently 59.76%.

Insider Activity

In other news, SVP Deneen L. Donnley sold 1,922 shares of Consolidated Edison stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $113.94, for a total value of $218,992.68. Following the completion of the transaction, the senior vice president owned 32,453 shares in the company, valued at approximately $3,697,694.82. This trade represents a 5.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

ED has been the subject of a number of recent research reports. Barclays cut their target price on Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating for the company in a research note on Monday. Citigroup reiterated a “buy” rating on shares of Consolidated Edison in a report on Monday, February 23rd. Wells Fargo & Company set a $98.00 price target on Consolidated Edison in a report on Tuesday, April 21st. Mizuho set a $118.00 price target on Consolidated Edison in a report on Monday, February 23rd. Finally, KeyCorp increased 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. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $109.46.

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.