OMERS ADMINISTRATION Corp Invests $2.98 Million in Consolidated Edison Inc $ED

OMERS ADMINISTRATION Corp acquired a new stake in shares of Consolidated Edison Inc (NYSE:ED) in the second quarter, HoldingsChannel.com reports. The fund acquired 26,908 shares of the utilities provider’s stock, valued at approximately $2,977,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GW&K Investment Management LLC lifted its position in Consolidated Edison by 28.5% during the fourth quarter. GW&K Investment Management LLC now owns 419 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 93 shares in the last quarter. bLong Financial LLC raised its stake in shares of Consolidated Edison by 1.3% in the fourth quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider’s stock worth $772,000 after buying an additional 100 shares during the period. Sachetta LLC lifted its position in shares of Consolidated Edison by 72.9% during the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock valued at $27,000 after buying an additional 102 shares in the last quarter. Frank Rimerman Advisors LLC lifted its position in shares of Consolidated Edison by 1.3% during the 1st quarter. Frank Rimerman Advisors LLC now owns 8,275 shares of the utilities provider’s stock valued at $937,000 after buying an additional 105 shares in the last quarter. Finally, Venture Visionary Partners LLC grew its stake in shares of Consolidated Edison by 2.0% during the 4th quarter. Venture Visionary Partners LLC now owns 5,606 shares of the utilities provider’s stock valued at $557,000 after acquiring an additional 108 shares during the period. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ED has been the subject of several analyst reports. Evercore reissued a “positive” rating and issued a $112.00 target price on shares of Consolidated Edison in a report on Monday, August 17th. Barclays dropped their price target on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a research report on Friday, August 7th. Morgan Stanley reduced their price objective on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a research note on Friday, August 21st. Weiss Ratings restated a “buy (b)” rating on shares of Consolidated Edison in a research report on Tuesday, July 21st. Finally, KeyCorp lowered their target price on shares of Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating on the stock in a research note on Thursday, July 23rd. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $108.93.

Consolidated Edison Stock Down 0.5%

NYSE ED opened at $107.15 on Wednesday. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $116.23. 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 stock has a market cap of $39.63 billion, a PE ratio of 17.59, a P/E/G ratio of 2.73 and a beta of 0.27. The stock’s 50 day moving average is $109.94 and its 200 day moving average is $109.91.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. The firm had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $3.60 billion. During the same quarter last year, the business posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Research analysts predict that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders 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 dividend yield of 3.3%. Consolidated Edison’s dividend payout ratio (DPR) is presently 58.29%.

Consolidated Edison 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.