Magellan Asset Management Ltd Makes New Investment in Consolidated Edison Inc $ED

Magellan Asset Management Ltd purchased a new position in shares of Consolidated Edison Inc (NYSE:ED) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 410,364 shares of the utilities provider’s stock, valued at approximately $45,399,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Basepoint Wealth LLC acquired a new stake in Consolidated Edison in the 4th quarter valued at $26,000. JPL Wealth Management LLC acquired a new position in Consolidated Edison during the 3rd quarter valued at about $26,000. Sachetta LLC raised its holdings in Consolidated Edison by 72.9% during the first quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 102 shares in the last quarter. Keating Financial Advisory Services Inc. acquired a new stake in shares of Consolidated Edison in the second quarter valued at $30,000. Finally, Godfrey Financial Associates Inc. bought a new position in shares of Consolidated Edison during the 4th quarter valued at about $32,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Up 0.2%

NYSE:ED opened at $106.52 on Monday. The firm has a market capitalization of $39.39 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 2.76 and a beta of 0.27. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.23. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 1.04. The business’s fifty day moving average price is $109.96 and its 200 day moving average price is $109.91.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The firm had revenue of $4.07 billion during the quarter, compared to analyst estimates of $3.60 billion. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.During the same period last year, the company posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, sell-side analysts forecast that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The business 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 of this dividend is Wednesday, August 19th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.3%. Consolidated Edison’s dividend payout ratio is 58.29%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Barclays decreased their price target on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a research report on Friday, August 7th. Evercore restated a “positive” rating and issued a $112.00 target price on shares of Consolidated Edison in a report on Monday, August 17th. Morgan Stanley reduced their target price on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a report on Friday. Wells Fargo & Company lifted their price target on Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Finally, Argus set a $112.00 price objective on Consolidated Edison in a report on Tuesday, June 23rd. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $108.93.

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.