18,400 Shares in Consolidated Edison Inc $ED Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new stake in shares of Consolidated Edison Inc (NYSE:ED) during the 1st quarter, Holdings Channel reports. The firm acquired 18,400 shares of the utilities provider’s stock, valued at approximately $2,083,000.

Several other large investors also recently made changes to their positions in the company. GW&K Investment Management LLC raised its position in shares of Consolidated Edison by 28.5% during the fourth quarter. GW&K Investment Management LLC now owns 419 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 93 shares during the period. Meadowbrook Wealth Management LLC raised its holdings in Consolidated Edison by 2.2% during the fourth quarter. Meadowbrook Wealth Management LLC now owns 4,687 shares of the utilities provider’s stock worth $466,000 after buying an additional 100 shares during the last quarter. bLong Financial LLC raised its holdings in Consolidated Edison by 1.3% during the fourth quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider’s stock worth $772,000 after buying an additional 100 shares during the last quarter. Bridgewater Advisors Inc. lifted its stake in shares of Consolidated Edison by 1.6% in the fourth quarter. Bridgewater Advisors Inc. now owns 6,635 shares of the utilities provider’s stock valued at $689,000 after buying an additional 105 shares in the last quarter. Finally, Venture Visionary Partners LLC grew its holdings in shares of Consolidated Edison by 2.0% during the fourth quarter. Venture Visionary Partners LLC now owns 5,606 shares of the utilities provider’s stock valued at $557,000 after buying an additional 108 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Trading Down 1.4%

Shares of ED opened at $110.73 on Wednesday. Consolidated Edison Inc has a fifty-two week low of $94.96 and a fifty-two week high of $116.23. The business has a 50-day moving average of $107.62 and a 200 day moving average of $107.44. The firm has a market cap of $40.81 billion, a P/E ratio of 18.64, a price-to-earnings-growth ratio of 2.85 and a beta of 0.27. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.19.

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

Consolidated Edison Announces Dividend

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

Wall Street Analyst Weigh In

ED has been the topic of several recent research reports. Mizuho reaffirmed a “neutral” rating and issued a $105.00 price target on shares of Consolidated Edison in a research report on Tuesday, June 2nd. KeyCorp raised their target price on Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a report on Tuesday, April 21st. Morgan Stanley reiterated an “underweight” rating on shares of Consolidated Edison in a report on Wednesday, June 24th. JPMorgan Chase & Co. raised their price objective on Consolidated Edison from $107.00 to $113.00 and gave the company an “underweight” rating in a research note on Thursday, March 12th. Finally, Argus set a $112.00 target price on shares of Consolidated Edison in a report on Tuesday, June 23rd. 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’s stock. Based on data from MarketBeat, Consolidated Edison has a consensus rating of “Reduce” and a consensus price target of $108.07.

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.