Pacer Advisors Inc. Increases Holdings in Consolidated Edison Inc $ED

Pacer Advisors Inc. lifted its holdings in Consolidated Edison Inc (NYSE:ED) by 27.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,682 shares of the utilities provider’s stock after acquiring an additional 8,269 shares during the period. Pacer Advisors Inc.’s holdings in Consolidated Edison were worth $3,842,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC lifted its stake in shares of Consolidated Edison by 13.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock valued at $332,000 after purchasing an additional 441 shares during the last quarter. Empowered Funds LLC increased its position in shares of Consolidated Edison by 42.1% during the 1st quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock valued at $993,000 after purchasing an additional 2,659 shares during the last quarter. Woodline Partners LP raised its holdings in Consolidated Edison by 40.7% during the 1st quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock valued at $3,237,000 after buying an additional 8,468 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Consolidated Edison during the 2nd quarter valued at $3,256,000. Finally, Baird Financial Group Inc. lifted its position in Consolidated Edison by 2.1% in the second quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider’s stock worth $1,473,000 after buying an additional 296 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays dropped their price objective on shares of Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating for the company in a research note on Monday, May 11th. JPMorgan Chase & Co. lifted their price target on shares of Consolidated Edison from $107.00 to $113.00 and gave the stock an “underweight” rating in a research note on Thursday, March 12th. Bank of America reiterated an “underperform” rating and set a $104.00 price target on shares of Consolidated Edison in a report on Wednesday, February 25th. Evercore set a $116.00 price objective on shares of Consolidated Edison in a research report on Monday, May 11th. Finally, Citigroup restated a “buy” rating on shares of Consolidated Edison in a research report on Monday, February 23rd. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat, Consolidated Edison currently has an average rating of “Reduce” and a consensus price target of $107.79.

Consolidated Edison Stock Up 0.4%

Shares of ED opened at $106.81 on Tuesday. The firm has a fifty day moving average price of $107.68 and a 200-day moving average price of $106.81. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $39.36 billion, a P/E ratio of 17.98, a P/E/G ratio of 2.70 and a beta of 0.27. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $116.23.

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

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th were paid a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Wednesday, May 13th. Consolidated Edison’s payout ratio is currently 59.76%.

Consolidated Edison Profile

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.