Louisiana State Employees Retirement System Takes $2.08 Million Position in Consolidated Edison Inc $ED

Louisiana State Employees Retirement System acquired a new stake in Consolidated Edison Inc (NYSE:ED) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 18,400 shares of the utilities provider’s stock, valued at approximately $2,083,000.

A number of other large investors have also added to or reduced their stakes in the business. Kestra Private Wealth Services LLC increased its holdings in shares of Consolidated Edison by 1.6% in the first quarter. Kestra Private Wealth Services LLC now owns 11,136 shares of the utilities provider’s stock valued at $1,260,000 after purchasing an additional 180 shares during the last quarter. Ritholtz Wealth Management raised its holdings in Consolidated Edison by 18.9% in the 1st quarter. Ritholtz Wealth Management now owns 4,381 shares of the utilities provider’s stock valued at $496,000 after acquiring an additional 697 shares during the period. MBM Wealth Consultants LLC bought a new stake in shares of Consolidated Edison during the first quarter worth approximately $50,000. Davis Investment Partners LLC increased its stake in shares of Consolidated Edison by 6.4% during the first quarter. Davis Investment Partners LLC now owns 5,224 shares of the utilities provider’s stock worth $591,000 after purchasing an additional 312 shares during the period. Finally, C2C Wealth Management LLC acquired a new position in shares of Consolidated Edison in the first quarter valued at about $225,000. Institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ED. Mizuho reiterated a “neutral” rating and issued a $105.00 price target on shares of Consolidated Edison in a research report on Tuesday, June 2nd. Barclays reduced their target price on Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating on the stock in a report 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 company an “underweight” rating in a report on Thursday, March 12th. Morgan Stanley reissued an “underweight” rating on shares of Consolidated Edison in a report on Wednesday, June 24th. Finally, KeyCorp boosted their price objective on Consolidated Edison from $96.00 to $97.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $108.07.

Consolidated Edison Price Performance

Consolidated Edison stock opened at $110.73 on Wednesday. The stock’s 50 day moving average is $107.62 and its 200 day moving average is $107.44. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23. The firm has a market cap of $40.81 billion, a P/E ratio of 18.64, a P/E/G ratio of 2.85 and a beta of 0.27. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.19 and a quick ratio of 1.09.

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

Consolidated Edison Announces Dividend

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

Consolidated Edison Company 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.