Teacher Retirement System of Texas Purchases 4,052 Shares of Consolidated Edison Inc $ED

Teacher Retirement System of Texas increased its position in Consolidated Edison Inc (NYSE:ED) by 8.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,699 shares of the utilities provider’s stock after purchasing an additional 4,052 shares during the period. Teacher Retirement System of Texas’ holdings in Consolidated Edison were worth $5,489,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Capital Advisors Ltd. LLC lifted its position in Consolidated Edison by 53.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 109 shares during the period. Financial Network Wealth Advisors LLC bought a new position in shares of Consolidated Edison during the first quarter valued at approximately $33,000. Cary Street Partners Investment Advisory LLC grew its stake in shares of Consolidated Edison by 64.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock worth $34,000 after buying an additional 120 shares during the last quarter. Bogart Wealth LLC grew its stake in shares of Consolidated Edison by 886.5% in the 2nd quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock worth $37,000 after buying an additional 328 shares during the last quarter. Finally, Elite Financial Inc. purchased a new stake in shares of Consolidated Edison in the 1st quarter worth approximately $38,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on ED. Mizuho boosted their target price on Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. KeyCorp lifted their price target on Consolidated Edison from $88.00 to $90.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 15th. Morgan Stanley raised their price objective on shares of Consolidated Edison from $93.00 to $100.00 and gave the company an “underweight” rating in a research note on Wednesday, October 22nd. Evercore ISI began coverage on shares of Consolidated Edison in a research note on Tuesday, October 7th. They set an “in-line” rating and a $106.00 price objective for the company. Finally, Barclays cut their price target on shares of Consolidated Edison from $107.00 to $105.00 and set an “underweight” rating on the stock in a report on Tuesday, October 21st. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $105.08.

Consolidated Edison Price Performance

NYSE ED opened at $98.19 on Friday. Consolidated Edison Inc has a one year low of $87.28 and a one year high of $114.87. The stock has a 50-day moving average of $99.03 and a 200 day moving average of $102.28. The company has a market capitalization of $35.41 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 2.70 and a beta of 0.32. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.39 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same quarter last year, the firm posted $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, sell-side analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th will be paid a dividend of $0.85 per share. The ex-dividend date is Wednesday, November 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.5%. Consolidated Edison’s payout ratio is currently 61.71%.

About Consolidated Edison

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.