Consolidated Edison Inc $ED Shares Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lifted its position in shares of Consolidated Edison Inc (NYSE:ED) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 358,556 shares of the utilities provider’s stock after acquiring an additional 5,936 shares during the quarter. Consolidated Edison accounts for approximately 0.7% of Maryland State Retirement & Pension System’s portfolio, making the stock its 27th largest holding. Maryland State Retirement & Pension System’s holdings in Consolidated Edison were worth $35,612,000 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. Basepoint Wealth LLC acquired a new position in Consolidated Edison during the fourth quarter worth about $26,000. JPL Wealth Management LLC acquired a new position in Consolidated Edison during the third quarter worth about $26,000. Aventura Private Wealth LLC acquired a new position in Consolidated Edison during the fourth quarter worth about $27,000. Westfuller Advisors LLC acquired a new position in Consolidated Edison during the fourth quarter worth about $27,000. Finally, Dorato Capital Management acquired a new position in Consolidated Edison during the fourth quarter worth about $28,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

Shares of ED opened at $108.39 on Wednesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.19. The company has a market capitalization of $39.94 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 2.74 and a beta of 0.27. The company’s 50 day simple moving average is $108.30 and its 200 day simple moving average is $106.59. Consolidated Edison Inc has a 1 year low of $94.96 and a 1 year high of $116.23.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, May 7th. The utilities provider reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.10). The firm had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Consolidated Edison had a net margin of 12.52% and a return on equity of 8.33%. During the same period in the previous year, the company posted $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, sell-side analysts predict that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Announces Dividend

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

Analyst Ratings Changes

Several brokerages have weighed in on ED. TD Cowen upped their target price on shares of Consolidated Edison from $105.00 to $112.00 and gave the stock a “hold” rating in a research report on Tuesday, February 24th. Evercore set a $116.00 target price on shares of Consolidated Edison in a research report on Monday, May 11th. Morgan Stanley set a $99.00 target price on shares of Consolidated Edison in a research report on Thursday, May 21st. JPMorgan Chase & Co. upped their target price on shares of Consolidated Edison from $107.00 to $113.00 and gave the stock an “underweight” rating in a research report on Thursday, March 12th. Finally, Scotiabank upped their target price on shares of Consolidated Edison from $113.00 to $117.00 and gave the stock a “sector perform” rating in a research report on Friday, February 20th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $107.79.

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.