Simplicity Wealth LLC Buys New Position in Consolidated Edison Inc $ED

Simplicity Wealth LLC purchased a new position in shares of Consolidated Edison Inc (NYSE:ED) during the second quarter, Holdings Channel reports. The firm purchased 10,572 shares of the utilities provider’s stock, valued at approximately $1,170,000.

Other institutional investors also recently added to or reduced their stakes in the company. QRG Capital Management Inc. increased its stake in Consolidated Edison by 16.9% in the first quarter. QRG Capital Management Inc. now owns 204,989 shares of the utilities provider’s stock valued at $23,201,000 after purchasing an additional 29,635 shares during the period. North Dakota State Investment Board acquired a new position in Consolidated Edison in the 4th quarter valued at about $1,228,000. Los Angeles Capital Management LLC increased its position in Consolidated Edison by 9.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 253,230 shares of the utilities provider’s stock valued at $24,865,000 after acquiring an additional 20,972 shares during the period. M3 Wealth Management LLC acquired a new stake in Consolidated Edison during the 4th quarter worth approximately $1,380,000. Finally, Arbejdsmarkedets Tillaegspension acquired a new stake in Consolidated Edison during the 4th quarter worth approximately $24,109,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Trading Down 0.1%

Consolidated Edison stock opened at $108.73 on Monday. The stock has a 50-day moving average price of $109.81 and a 200 day moving average price of $109.83. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $116.23. The stock has a market cap of $40.21 billion, a PE ratio of 17.85, a P/E/G ratio of 2.83 and a beta of 0.27. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. The company had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $3.60 billion. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. During the same period last year, the company earned $0.67 EPS. 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 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Wednesday, August 19th will be given a dividend of $0.8875 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $3.55 annualized dividend and a yield of 3.3%. Consolidated Edison’s dividend payout ratio is 58.29%.

Wall Street Analysts Forecast Growth

ED has been the topic of a number of recent analyst reports. KeyCorp dropped their price target 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. Evercore set a $116.00 price target on Consolidated Edison in a research note on Monday, May 11th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $105.00 price objective on shares of Consolidated Edison in a report on Thursday, May 14th. Morgan Stanley reiterated an “underweight” rating on shares of Consolidated Edison in a research report on Wednesday, July 22nd. Finally, Wells Fargo & Company boosted their target price on shares of Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. 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. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $109.07.

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.