Te Ahumairangi Investment Management Ltd Invests $8.89 Million in Consolidated Edison Inc $ED

Te Ahumairangi Investment Management Ltd acquired a new stake in Consolidated Edison Inc (NYSE:ED) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 80,391 shares of the utilities provider’s stock, valued at approximately $8,894,000. Consolidated Edison makes up approximately 1.4% of Te Ahumairangi Investment Management Ltd’s holdings, making the stock its 20th largest holding.

Several other hedge funds have also added to or reduced their stakes in ED. BlackRock Inc. bought a new stake in shares of Consolidated Edison in the second quarter worth about $4,609,491,000. Deutsche Bank AG bought a new position in shares of Consolidated Edison during the 2nd quarter valued at about $749,184,000. Lazard Asset Management LLC lifted its holdings in shares of Consolidated Edison by 121,543.9% during the 3rd quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock valued at $599,155,000 after purchasing an additional 5,955,653 shares in the last quarter. Norges Bank acquired a new position in shares of Consolidated Edison in the 4th quarter valued at approximately $489,806,000. Finally, Bank of New York Mellon Corp bought a new stake in Consolidated Edison during the 2nd quarter worth approximately $231,014,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

ED has been the topic of a number of research reports. Argus set a $112.00 price target on shares of Consolidated Edison in a research note on Tuesday, June 23rd. Wells Fargo & Company boosted their price objective on shares of Consolidated Edison from $106.00 to $108.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Mizuho set a $114.00 target price on shares of Consolidated Edison in a research note on Monday, July 27th. Morgan Stanley cut their price target on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a report on Friday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Consolidated Edison in a research report on Tuesday, July 21st. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $108.93.

Consolidated Edison Trading Up 0.2%

Shares of NYSE:ED opened at $106.52 on Monday. The business has a 50 day moving average of $109.96 and a 200-day moving average of $109.91. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $116.23. The stock has a market cap of $39.39 billion, a PE ratio of 17.49, a P/E/G ratio of 2.76 and a beta of 0.27. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED) last released 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 during 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 in the previous year, the business earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, equities research analysts forecast that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Announces Dividend

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