Plato Investment Management Ltd Acquires Shares of 10,713 Consolidated Edison Inc $ED

Plato Investment Management Ltd acquired a new position in shares of Consolidated Edison Inc (NYSE:ED) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 10,713 shares of the utilities provider’s stock, valued at approximately $1,178,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ED. Basepoint Wealth LLC bought a new position in shares of Consolidated Edison during the fourth quarter worth about $26,000. JPL Wealth Management LLC bought a new stake in Consolidated Edison in the third quarter valued at about $26,000. Sachetta LLC increased its holdings in Consolidated Edison by 72.9% in the first quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock valued at $27,000 after buying an additional 102 shares during the last quarter. WealthCollab LLC raised its stake in Consolidated Edison by 68.4% during the fourth quarter. WealthCollab LLC now owns 315 shares of the utilities provider’s stock valued at $31,000 after buying an additional 128 shares in the last quarter. Finally, Godfrey Financial Associates Inc. acquired a new stake in Consolidated Edison during the fourth quarter valued at approximately $32,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 0.1%

NYSE:ED opened at $108.91 on Tuesday. The firm has a market capitalization of $40.28 billion, a P/E ratio of 17.88, a P/E/G ratio of 2.83 and a beta of 0.27. The business has a 50 day simple moving average of $109.90 and a 200 day simple moving average of $109.85. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.27 and a quick ratio of 1.17. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $116.23.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.07. The firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.60 billion. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.During the same period last year, the company earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities research analysts predict that Consolidated Edison Inc will post 6.09 EPS 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 $0.8875 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $3.55 annualized dividend and a yield of 3.3%. Consolidated Edison’s dividend payout ratio (DPR) is currently 58.29%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ED shares. Evercore reiterated a “positive” rating and issued a $112.00 target price on shares of Consolidated Edison in a research report on Monday. Mizuho set a $114.00 price objective on Consolidated Edison in a research note on Monday, July 27th. Argus set a $112.00 price objective on shares of Consolidated Edison in a report on Tuesday, June 23rd. Wells Fargo & Company increased their target price on shares of Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Finally, Morgan Stanley restated an “underweight” rating on shares of Consolidated Edison in a research report on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $108.80.

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.