Man Group plc Buys Shares of 28,205 Consolidated Edison Inc $ED

Man Group plc purchased a new stake in Consolidated Edison Inc (NYSE:ED) during the second quarter, according to its most recent filing with the SEC. The firm purchased 28,205 shares of the utilities provider’s stock, valued at approximately $3,120,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Basepoint Wealth LLC purchased a new position in Consolidated Edison in the fourth quarter valued at about $26,000. JPL Wealth Management LLC purchased a new stake in shares of Consolidated Edison during the third quarter valued at about $26,000. Sachetta LLC boosted its holdings in shares of Consolidated Edison by 72.9% in 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. Aberdeen Wealth Management LLC purchased a new position in shares of Consolidated Edison in the 2nd quarter worth approximately $27,000. Finally, Keating Financial Advisory Services Inc. purchased a new position in shares of Consolidated Edison in the 2nd quarter worth approximately $30,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Stock Down 0.3%

NYSE:ED opened at $107.22 on Tuesday. The company has a market cap of $39.65 billion, a PE ratio of 17.61, a P/E/G ratio of 2.73 and a beta of 0.27. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve 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 company’s 50 day moving average is $109.99 and its two-hundred day moving average is $109.89.

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

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Wednesday, August 19th will be paid a $0.8875 dividend. 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 dividend payout ratio (DPR) is 58.29%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ED. Evercore reissued a “positive” rating and set a $112.00 target price on shares of Consolidated Edison in a research report on Monday, August 17th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $105.00 price target on shares of Consolidated Edison in a report on Thursday, May 14th. KeyCorp reduced their price target on Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating on the stock in a research report on Thursday, July 23rd. Morgan Stanley decreased their price objective on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a report on Friday, August 21st. Finally, Argus set a $112.00 price objective on Consolidated Edison in a research report on Tuesday, June 23rd. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $108.93.

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.