Mystic Asset Management Inc. Purchases New Shares in Consolidated Edison Inc $ED

Mystic Asset Management Inc. purchased a new position in shares of Consolidated Edison Inc (NYSE:ED) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,920 shares of the utilities provider’s stock, valued at approximately $987,000.

A number of other institutional investors have also added to or reduced their stakes in ED. Vanguard Group Inc. increased its position in shares of Consolidated Edison by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 45,636,041 shares of the utilities provider’s stock valued at $4,532,572,000 after acquiring an additional 461,108 shares during the last quarter. BlackRock Inc. purchased a new position in Consolidated Edison in the second quarter worth $4,609,491,000. State Street Corp boosted its position in Consolidated Edison by 3.6% in the fourth quarter. State Street Corp now owns 24,905,440 shares of the utilities provider’s stock worth $2,473,608,000 after purchasing an additional 854,868 shares during the last quarter. Lazard Asset Management LLC grew its stake in Consolidated Edison by 14.8% in the 1st quarter. Lazard Asset Management LLC now owns 7,075,838 shares of the utilities provider’s stock valued at $800,843,000 after purchasing an additional 910,244 shares during the period. Finally, Deutsche Bank AG bought a new position in Consolidated Edison in the 2nd quarter valued at $749,184,000. 66.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ED shares. KeyCorp lowered their target price on Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating on the stock in a research note on Thursday, July 23rd. Mizuho set a $114.00 price objective on shares of Consolidated Edison in a report on Monday, July 27th. Morgan Stanley reaffirmed an “underweight” rating on shares of Consolidated Edison in a research report on Wednesday, July 22nd. Barclays dropped their target price on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a research note on Friday, August 7th. Finally, Argus set a $112.00 price target on shares of Consolidated Edison in a report on Tuesday, June 23rd. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $108.80.

Consolidated Edison Stock Up 0.3%

ED opened at $108.33 on Friday. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $116.23. The company has a market cap of $40.06 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 2.80 and a beta of 0.27. 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 50 day moving average of $109.99 and a 200 day moving average of $109.91.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The business had revenue of $4.07 billion for 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 quarter in the previous year, the firm posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, sell-side analysts expect that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Wednesday, August 19th will be paid a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, August 19th. Consolidated Edison’s payout ratio is presently 58.29%.

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.