Mirae Asset Global Investments Co. Ltd. Purchases New Holdings in Consolidated Edison Inc $ED

Mirae Asset Global Investments Co. Ltd. purchased a new stake in Consolidated Edison Inc (NYSE:ED) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 174,924 shares of the utilities provider’s stock, valued at approximately $17,879,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vise Technologies Inc. lifted its position in shares of Consolidated Edison by 2.8% during the 3rd quarter. Vise Technologies Inc. now owns 62,228 shares of the utilities provider’s stock valued at $6,360,000 after acquiring an additional 1,723 shares during the period. Cidel Asset Management Inc. boosted its stake in Consolidated Edison by 3.6% during the third quarter. Cidel Asset Management Inc. now owns 3,843 shares of the utilities provider’s stock worth $393,000 after acquiring an additional 132 shares in the last quarter. Summit Global Investments grew its holdings in Consolidated Edison by 56.5% in the third quarter. Summit Global Investments now owns 64,930 shares of the utilities provider’s stock worth $6,636,000 after purchasing an additional 23,442 shares during the period. Modera Wealth Management LLC grew its holdings in Consolidated Edison by 200.2% in the third quarter. Modera Wealth Management LLC now owns 10,133 shares of the utilities provider’s stock worth $1,036,000 after purchasing an additional 6,758 shares during the period. Finally, International Assets Investment Management LLC increased its stake in Consolidated Edison by 3,407.6% in the third quarter. International Assets Investment Management LLC now owns 297,517 shares of the utilities provider’s stock valued at $30,409,000 after purchasing an additional 289,035 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Price Performance

Shares of ED opened at $116.76 on Wednesday. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $118.79. The business’s fifty day moving average is $108.15 and its 200 day moving average is $109.10. 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 stock has a market cap of $43.18 billion, a P/E ratio of 20.46, a P/E/G ratio of 4.10 and a beta of 0.23.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. The business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $3.60 billion. During the same quarter in the previous year, the business posted $0.67 EPS. 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. Stockholders of record on Wednesday, November 18th will be issued a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Wednesday, November 18th. Consolidated Edison’s dividend payout ratio (DPR) is currently 58.29%.

Analyst Ratings Changes

Several equities research analysts have weighed in on ED shares. The Goldman Sachs Group decreased their price target on shares of Consolidated Edison from $106.00 to $102.00 in a research note on Thursday, October 15th. Scotiabank cut their price objective on shares of Consolidated Edison from $117.00 to $110.00 and set a “sector perform” rating on the stock in a research report on Wednesday, September 30th. Mizuho set a $108.00 target price on Consolidated Edison in a research note on Wednesday, October 7th. Evercore decreased their target price on Consolidated Edison from $116.00 to $112.00 in a research report on Thursday, October 8th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Consolidated Edison in a research note on Monday, October 19th. Four 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 data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $108.09.

Consolidated Edison Profile

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.