8,170 Shares in Consolidated Edison Inc $ED Bought by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC purchased a new position in Consolidated Edison Inc (NYSE:ED) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 8,170 shares of the utilities provider’s stock, valued at approximately $811,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Nisa Investment Advisors LLC raised its holdings in shares of Consolidated Edison by 6.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 125,994 shares of the utilities provider’s stock valued at $12,514,000 after purchasing an additional 7,335 shares during the period. Rockland Trust Co. grew its stake in shares of Consolidated Edison by 1.8% in the 4th quarter. Rockland Trust Co. now owns 90,505 shares of the utilities provider’s stock valued at $8,989,000 after buying an additional 1,633 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Consolidated Edison by 7.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 22,957 shares of the utilities provider’s stock valued at $2,295,000 after buying an additional 1,671 shares during the period. Brookstone Capital Management increased its position in Consolidated Edison by 2.4% in the 4th quarter. Brookstone Capital Management now owns 24,516 shares of the utilities provider’s stock valued at $2,435,000 after buying an additional 580 shares in the last quarter. Finally, Financial Planning Hawaii Inc. bought a new stake in Consolidated Edison in the 4th quarter valued at about $652,000. 66.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $113.94, for a total transaction of $218,992.68. Following the transaction, the senior vice president directly owned 32,453 shares in the company, valued at approximately $3,697,694.82. This trade represents a 5.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Consolidated Edison Price Performance

ED stock opened at $114.01 on Thursday. The company has a market capitalization of $41.19 billion, a P/E ratio of 20.18, a price-to-earnings-growth ratio of 2.89 and a beta of 0.34. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 1.02. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $116.23. The business has a 50-day simple moving average of $110.40 and a two-hundred day simple moving average of $103.21.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, February 19th. The utilities provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.86 by $0.03. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the prior year, the business posted $0.98 earnings per share. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Research analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Wednesday, February 18th were given a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, February 18th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.85. Consolidated Edison’s payout ratio is currently 62.83%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Citigroup reiterated a “buy” rating on shares of Consolidated Edison in a report on Monday, February 23rd. Barclays boosted their price objective on Consolidated Edison from $100.00 to $110.00 and gave the company an “underweight” rating in a report on Tuesday, February 24th. JPMorgan Chase & Co. upped their target price on Consolidated Edison from $107.00 to $113.00 and gave the stock an “underweight” rating in a research report on Thursday, March 12th. KeyCorp increased their target price on Consolidated Edison from $86.00 to $96.00 and gave the stock an “underweight” rating in a report on Wednesday, March 4th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Consolidated Edison in a research report on Friday, March 27th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $108.80.

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.