OP Asset Management Ltd Invests $4.13 Million in Consolidated Edison Inc $ED

OP Asset Management Ltd purchased a new stake in shares of Consolidated Edison Inc (NYSE:ED) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 36,511 shares of the utilities provider’s stock, valued at approximately $4,132,000.

Other large investors have also added to or reduced their stakes in the company. Basepoint Wealth LLC acquired a new position in Consolidated Edison in the 4th quarter worth $26,000. JPL Wealth Management LLC purchased a new position in Consolidated Edison in the 3rd quarter valued at about $26,000. Aventura Private Wealth LLC acquired a new stake in shares of Consolidated Edison during the fourth quarter valued at about $27,000. Westfuller Advisors LLC acquired a new stake in shares of Consolidated Edison during the fourth quarter valued at about $27,000. Finally, Dorato Capital Management purchased a new stake in shares of Consolidated Edison during the fourth quarter worth about $28,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ED has been the subject of a number of analyst reports. KeyCorp increased their price target on Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a report on Tuesday, April 21st. Barclays dropped their price objective on Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating on the stock in a report on Monday, May 11th. JPMorgan Chase & Co. upped their target price on Consolidated Edison from $107.00 to $113.00 and gave the company an “underweight” rating in a research report on Thursday, March 12th. Argus set a $112.00 target price on Consolidated Edison in a research note on Tuesday. Finally, Morgan Stanley reiterated an “underweight” rating on shares of Consolidated Edison in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $108.07.

Consolidated Edison Stock Performance

Shares of ED stock opened at $111.99 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.19. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23. The company’s 50-day simple moving average is $107.58 and its 200-day simple moving average is $107.14. The stock has a market capitalization of $41.27 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 2.81 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, May 7th. The utilities provider reported $2.18 EPS for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.10). Consolidated Edison had a return on equity of 8.33% and a net margin of 12.52%.The firm had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same quarter last year, the business posted $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities analysts anticipate that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th were issued a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Wednesday, May 13th. Consolidated Edison’s payout ratio is 59.76%.

About Consolidated Edison

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.