Empowered Funds LLC Makes New Investment in Consolidated Edison Inc $ED

Empowered Funds LLC bought a new position in Consolidated Edison Inc (NYSE:ED) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 24,674 shares of the utilities provider’s stock, valued at approximately $2,730,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. QRG Capital Management Inc. increased its stake in shares of Consolidated Edison by 16.9% in the 1st quarter. QRG Capital Management Inc. now owns 204,989 shares of the utilities provider’s stock worth $23,201,000 after acquiring an additional 29,635 shares in the last quarter. North Dakota State Investment Board bought a new stake in Consolidated Edison during the fourth quarter worth about $1,228,000. Los Angeles Capital Management LLC grew its holdings in Consolidated Edison by 9.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 253,230 shares of the utilities provider’s stock worth $24,865,000 after purchasing an additional 20,972 shares during the period. M3 Wealth Management LLC bought a new position in shares of Consolidated Edison during the fourth quarter valued at approximately $1,380,000. Finally, Arbejdsmarkedets Tillaegspension bought a new position in shares of Consolidated Edison during the fourth quarter valued at approximately $24,109,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. The Goldman Sachs Group reissued a “sell” rating and issued a $105.00 price target on shares of Consolidated Edison in a research 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. KeyCorp lowered their price objective on Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating for the company in a research note on Thursday, July 23rd. Wells Fargo & Company boosted their target price on Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Consolidated Edison in a research note on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, Consolidated Edison presently has a consensus rating of “Reduce” and an average price target of $108.93.

Consolidated Edison Trading Up 0.1%

NYSE:ED opened at $107.77 on Thursday. The stock has a market cap of $39.86 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 3.73 and a beta of 0.27. 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’s 50 day moving average price is $109.91 and its 200-day moving average price is $109.85. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $116.23.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $4.07 billion during the quarter, compared to analyst estimates of $3.60 billion. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. During the same period in the previous year, the business earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, equities research analysts forecast that Consolidated Edison Inc will post 6.1 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Wednesday, August 19th will be paid a $0.8875 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. Consolidated Edison’s payout ratio is currently 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.