Canada Pension Plan Investment Board Invests $66.65 Million in Consolidated Edison Inc $ED

Canada Pension Plan Investment Board acquired a new position in shares of Consolidated Edison Inc (NYSE:ED) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 602,421 shares of the utilities provider’s stock, valued at approximately $66,646,000. Canada Pension Plan Investment Board owned 0.16% of Consolidated Edison at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. acquired a new position in Consolidated Edison during the 2nd quarter worth $4,609,491,000. Deutsche Bank AG bought a new position in shares of Consolidated Edison in the second quarter worth about $749,184,000. Lazard Asset Management LLC increased its stake in shares of Consolidated Edison by 121,543.9% in the third quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock worth $599,155,000 after purchasing an additional 5,955,653 shares during the period. Norges Bank acquired a new position in shares of Consolidated Edison during the 4th quarter worth about $489,806,000. Finally, Legal & General Group Plc acquired a new position in shares of Consolidated Edison during the 2nd quarter worth about $494,352,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Down 1.3%

ED stock opened at $106.63 on Friday. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 1.04. The company has a market cap of $39.43 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 2.74 and a beta of 0.27. The business’s 50-day simple moving average is $109.97 and its 200 day simple moving average is $109.90.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.76 by $0.07. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.The firm had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $3.60 billion. During the same quarter in the prior year, the firm posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, research analysts anticipate that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Wednesday, August 19th will be paid a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, August 19th. Consolidated Edison’s dividend payout ratio is presently 58.29%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $105.00 target price on shares of Consolidated Edison in a report on Thursday, May 14th. Barclays reduced their price objective on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a research report on Friday, August 7th. Weiss Ratings restated a “buy (b)” rating on shares of Consolidated Edison in a research note on Tuesday, July 21st. Argus set a $112.00 target price on shares of Consolidated Edison in a research report on Tuesday, June 23rd. Finally, Morgan Stanley cut their target price on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a research note on Friday, August 21st. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $108.93.

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.