Meeder Asset Management Inc. Takes Position in Consolidated Edison Inc $ED

Meeder Asset Management Inc. purchased a new position in Consolidated Edison Inc (NYSE:ED) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 42,543 shares of the utilities provider’s stock, valued at approximately $4,707,000.

Several other large investors have also recently made changes to their positions in the company. Citizens Financial Group Inc. RI acquired a new position in Consolidated Edison in the 2nd quarter valued at $2,456,000. Nuance Investments LLC acquired a new stake in Consolidated Edison during the 2nd quarter worth $1,552,000. Grandfield & Dodd LLC acquired a new stake in Consolidated Edison during the 2nd quarter worth $473,000. BlackRock Inc. purchased a new stake in shares of Consolidated Edison during the second quarter worth $4,609,491,000. Finally, Occidental Asset Management LLC purchased a new stake in shares of Consolidated Edison during the second quarter worth $1,122,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ED shares. Weiss Ratings restated a “buy (b)” rating on shares of Consolidated Edison in a research report on Tuesday, July 21st. The Goldman Sachs Group reiterated a “sell” rating and issued a $105.00 price objective on shares of Consolidated Edison in a report on Thursday, May 14th. Wells Fargo & Company raised their target price 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. KeyCorp lowered their target price on Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating on the stock in a report on Thursday, July 23rd. Finally, Morgan Stanley restated an “underweight” rating on shares of Consolidated Edison in a research report on Wednesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat, Consolidated Edison has an average rating of “Reduce” and an average target price of $108.80.

Consolidated Edison Trading Up 0.1%

NYSE ED opened at $108.91 on Tuesday. The firm’s 50-day moving average is $109.90 and its two-hundred day moving average is $109.85. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $116.23. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.27 and a quick ratio of 1.17. The stock has a market capitalization of $40.28 billion, a P/E ratio of 17.88, a PEG ratio of 2.83 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $3.60 billion. During the same quarter last year, the firm posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, sell-side analysts anticipate that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Wednesday, August 19th will be given a dividend of $0.8875 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.3%. 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.