Consolidated Edison Inc $ED Shares Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in shares of Consolidated Edison Inc (NYSE:ED) by 5.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 508,052 shares of the utilities provider’s stock after acquiring an additional 24,500 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Consolidated Edison were worth $51,928,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Soltis Investment Advisors LLC grew its stake in Consolidated Edison by 133.7% during the third quarter. Soltis Investment Advisors LLC now owns 8,525 shares of the utilities provider’s stock valued at $871,000 after acquiring an additional 4,877 shares in the last quarter. Choreo LLC increased its holdings in Consolidated Edison by 2.2% in the 3rd quarter. Choreo LLC now owns 15,161 shares of the utilities provider’s stock valued at $1,550,000 after acquiring an additional 325 shares during the last quarter. Interchange Capital Partners LLC increased its holdings in Consolidated Edison by 12.6% in the 3rd quarter. Interchange Capital Partners LLC now owns 2,608 shares of the utilities provider’s stock valued at $267,000 after acquiring an additional 291 shares during the last quarter. North Dakota State Investment Board lifted its stake in Consolidated Edison by 5.3% in the 3rd quarter. North Dakota State Investment Board now owns 11,290 shares of the utilities provider’s stock worth $1,154,000 after purchasing an additional 572 shares in the last quarter. Finally, William Mack & Associates Inc. purchased a new stake in Consolidated Edison in the 3rd quarter worth $84,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 1.1%

ED stock opened at $116.81 on Friday. The firm has a fifty day moving average price of $107.73 and a 200 day moving average price of $108.93. Consolidated Edison Inc has a fifty-two week low of $94.96 and a fifty-two week high of $117.65. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.17 and a current ratio of 1.27. The firm has a market cap of $43.20 billion, a PE ratio of 19.18, a price-to-earnings-growth ratio of 4.00 and a beta of 0.26.

Consolidated Edison (NYSE:ED) last announced its quarterly 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. 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 in the previous year, the business posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Sell-side analysts anticipate that Consolidated Edison Inc will post 6.10 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Wednesday, November 18th will be paid a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, November 18th. Consolidated Edison’s dividend payout ratio (DPR) is presently 58.29%.

Wall Street Analyst Weigh In

Several research analysts have commented on ED shares. Mizuho set a $108.00 price objective on shares of Consolidated Edison in a report on Wednesday, October 7th. Weiss Ratings restated a “buy (b)” rating on shares of Consolidated Edison in a research report on Monday, October 19th. UBS Group lifted their target price on Consolidated Edison from $118.00 to $124.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. LADENBURG THALM/SH SH boosted their target price on Consolidated Edison from $101.00 to $113.50 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Finally, HSBC started coverage on Consolidated Edison in a research report on Thursday, October 22nd. They issued a “hold” rating and a $104.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $108.09.

About Consolidated Edison

Consolidated Edison, Inc is a diversified energy company headquartered in New York City. Through its regulated utility subsidiaries, the company delivers electricity, natural gas and steam to residential, commercial and industrial customers.

Its principal subsidiary, Consolidated Edison Company of New York, provides electric service throughout New York City and Westchester County, along with gas service in Manhattan, the Bronx, parts of Queens and Westchester County, and steam service in parts of Manhattan.