Wedge Capital Management L L P NC Invests $14.76 Million in Consolidated Edison Inc $ED

Wedge Capital Management L L P NC purchased a new position in shares of Consolidated Edison Inc (NYSE:ED) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 133,433 shares of the utilities provider’s stock, valued at approximately $14,762,000.

A number of other hedge funds have also modified their holdings of ED. Lazard Asset Management LLC increased its holdings in Consolidated Edison by 121,543.9% in the 3rd quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock worth $599,155,000 after buying an additional 5,955,653 shares during the period. Norges Bank acquired a new stake in Consolidated Edison in the 4th quarter valued at $489,806,000. Deutsche Bank AG increased its stake in shares of Consolidated Edison by 101.4% during the fourth quarter. Deutsche Bank AG now owns 3,617,361 shares of the utilities provider’s stock worth $359,276,000 after purchasing an additional 1,820,877 shares in the last quarter. Amundi increased its position in shares of Consolidated Edison by 66.2% during the first quarter. Amundi now owns 3,872,404 shares of the utilities provider’s stock worth $438,272,000 after purchasing an additional 1,543,069 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Consolidated Edison during the fourth quarter worth $113,977,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $107.49 on Thursday. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.23. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.27 and a quick ratio of 1.17. The stock has a fifty day moving average price of $109.67 and a 200 day moving average price of $109.76. The company has a market cap of $39.75 billion, a PE ratio of 17.65, a P/E/G ratio of 2.79 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. The firm had revenue of $4.07 billion during the quarter, compared to analysts’ expectations 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 prior year, the company posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Sell-side analysts forecast that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Wednesday, August 19th will be issued a $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $3.55 dividend on an annualized basis and a yield of 3.3%. Consolidated Edison’s dividend payout ratio (DPR) is 58.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Morgan Stanley reaffirmed an “underweight” rating on shares of Consolidated Edison in a research note on Wednesday, July 22nd. The Goldman Sachs Group reissued a “sell” rating and set a $105.00 price target on shares of Consolidated Edison in a research report on Thursday, May 14th. Evercore set a $116.00 target price on Consolidated Edison in a research note on Monday, May 11th. Barclays reduced their price objective on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a report on Friday, August 7th. Finally, Argus set a $112.00 target price on Consolidated Edison in a research report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Consolidated Edison presently has a consensus rating of “Reduce” and an average target price of $109.07.

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.