OP Asset Management Ltd Makes New Investment in Consolidated Edison Inc $ED

OP Asset Management Ltd purchased a new position in Consolidated Edison Inc (NYSE:ED) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 36,511 shares of the utilities provider’s stock, valued at approximately $4,132,000.

A number of other institutional investors have also modified their holdings of the business. Basepoint Wealth LLC acquired a new stake in Consolidated Edison during the fourth quarter worth about $26,000. JPL Wealth Management LLC acquired a new stake in shares of Consolidated Edison during the 3rd quarter worth approximately $26,000. Aventura Private Wealth LLC acquired a new stake in shares of Consolidated Edison during the 4th quarter worth approximately $27,000. Westfuller Advisors LLC bought a new stake in shares of Consolidated Edison in the 4th quarter worth approximately $27,000. Finally, Dorato Capital Management acquired a new position in Consolidated Edison during the 4th quarter valued at approximately $28,000. Institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

ED has been the subject of a number of recent research reports. Barclays lowered their price objective on Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating for the company in a research note on Monday, May 11th. Mizuho reissued a “neutral” rating and set a $105.00 price target on shares of Consolidated Edison in a report on Tuesday, June 2nd. JPMorgan Chase & Co. upped their price target on shares of Consolidated Edison from $107.00 to $113.00 and gave the stock an “underweight” rating in a research report on Thursday, March 12th. KeyCorp increased their price objective on shares of Consolidated Edison from $96.00 to $97.00 and gave the stock an “underweight” rating in a report on Tuesday, April 21st. Finally, Weiss Ratings upgraded shares of Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $108.07.

Consolidated Edison Stock Performance

Shares of ED stock opened at $111.99 on Friday. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $116.23. The firm has a market capitalization of $41.27 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 2.81 and a beta of 0.27. The business has a 50 day simple moving average of $107.58 and a 200 day simple moving average of $107.14. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.19 and a quick ratio of 1.09.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, May 7th. The utilities provider reported $2.18 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($0.10). The business had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.22 billion. Consolidated Edison had a net margin of 12.52% and a return on equity of 8.33%. During the same period in the previous year, the firm earned $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, equities research analysts anticipate that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th were issued a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Wednesday, May 13th. Consolidated Edison’s dividend payout ratio (DPR) is 59.76%.

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.