Maryland State Retirement & Pension System Increases Stock Position in Consolidated Edison Inc $ED

Maryland State Retirement & Pension System boosted its stake in Consolidated Edison Inc (NYSE:ED) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 358,556 shares of the utilities provider’s stock after acquiring an additional 5,936 shares during the period. Consolidated Edison comprises approximately 0.7% of Maryland State Retirement & Pension System’s portfolio, making the stock its 27th largest position. Maryland State Retirement & Pension System owned approximately 0.10% of Consolidated Edison worth $35,612,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ED. Basepoint Wealth LLC purchased a new stake in Consolidated Edison in the fourth quarter valued at $26,000. JPL Wealth Management LLC purchased a new stake in Consolidated Edison in the third quarter valued at $26,000. Aventura Private Wealth LLC purchased a new stake in Consolidated Edison in the fourth quarter valued at $27,000. Westfuller Advisors LLC purchased a new stake in Consolidated Edison in the fourth quarter valued at $27,000. Finally, Dorato Capital Management acquired a new position in Consolidated Edison in the fourth quarter valued at $28,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Trading Up 0.6%

Shares of Consolidated Edison stock opened at $108.39 on Wednesday. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $116.23. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00. The company’s 50-day simple moving average is $108.30 and its 200-day simple moving average is $106.59. The firm has a market cap of $39.94 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 2.74 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, May 7th. The utilities provider reported $2.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.10). Consolidated Edison had a return on equity of 8.33% and a net margin of 12.52%.The firm had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter last year, the firm earned $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, equities research analysts anticipate that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th were 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 was Wednesday, May 13th. Consolidated Edison’s payout ratio is 59.76%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wells Fargo & Company set a $98.00 price objective on shares of Consolidated Edison in a research note on Tuesday, April 21st. KeyCorp lifted their price objective on shares of Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a research note on Tuesday, April 21st. Evercore set a $116.00 price objective on shares of Consolidated Edison in a research note on Monday, May 11th. TD Cowen lifted their price objective on shares of Consolidated Edison from $105.00 to $112.00 and gave the company a “hold” rating in a research note on Tuesday, February 24th. Finally, Weiss Ratings upgraded shares of Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, Consolidated Edison has an average rating of “Reduce” and a consensus price target of $107.79.

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.