23,442 Consolidated Edison Inc $ED Shares Acquired by Summit Global Investments

Summit Global Investments boosted its stake in shares of Consolidated Edison Inc (NYSE:ED) by 56.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,930 shares of the utilities provider’s stock after acquiring an additional 23,442 shares during the period. Summit Global Investments’ holdings in Consolidated Edison were worth $6,636,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Modera Wealth Management LLC lifted its position in Consolidated Edison by 200.2% during the third quarter. Modera Wealth Management LLC now owns 10,133 shares of the utilities provider’s stock worth $1,036,000 after purchasing an additional 6,758 shares during the period. International Assets Investment Management LLC increased its holdings in Consolidated Edison by 3,407.6% in the 3rd quarter. International Assets Investment Management LLC now owns 297,517 shares of the utilities provider’s stock valued at $30,409,000 after buying an additional 289,035 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in Consolidated Edison by 5.1% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 508,052 shares of the utilities provider’s stock valued at $51,928,000 after buying an additional 24,500 shares during the period. Soltis Investment Advisors LLC raised its position in shares of Consolidated Edison by 133.7% in the 3rd quarter. Soltis Investment Advisors LLC now owns 8,525 shares of the utilities provider’s stock valued at $871,000 after buying an additional 4,877 shares in the last quarter. Finally, Choreo LLC raised its position in shares of Consolidated Edison by 2.2% in the 3rd quarter. Choreo LLC now owns 15,161 shares of the utilities provider’s stock valued at $1,550,000 after buying an additional 325 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Up 1.1%

Shares of NYSE ED opened at $116.81 on Friday. 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 company has a market cap of $43.20 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 4.04 and a beta of 0.26. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $117.65. The stock has a 50-day moving average price of $107.73 and a two-hundred day moving average price of $108.93.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $4.07 billion for the quarter, compared to the consensus estimate 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 last year, the company posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, analysts forecast that Consolidated Edison Inc will post 6.10 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Wednesday, November 18th will be given a dividend of $0.8875 per share. The ex-dividend date is Wednesday, November 18th. This represents a $3.55 dividend on an annualized basis and a yield of 3.0%. Consolidated Edison’s payout ratio is currently 58.29%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ED shares. LADENBURG THALM/SH SH upped their price target on shares of Consolidated Edison from $101.00 to $113.50 and gave the stock a “neutral” rating in a report on Monday, July 13th. KeyCorp decreased their price objective on shares of Consolidated Edison from $94.00 to $87.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 13th. The Goldman Sachs Group lowered their price objective on shares of Consolidated Edison from $106.00 to $102.00 in a research report on Thursday, October 15th. UBS Group upped their target price on Consolidated Edison from $118.00 to $124.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Finally, Barclays reduced their target price on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $108.09.

Consolidated Edison Profile

Consolidated Edison, Inc is a diversified energy company headquartered in New York City. Through its regulated utility subsidiaries, the company delivers electricity, natural gas and steam to residential, commercial and industrial customers.

Its principal subsidiary, Consolidated Edison Company of New York, provides electric service throughout New York City and Westchester County, along with gas service in Manhattan, the Bronx, parts of Queens and Westchester County, and steam service in parts of Manhattan.