Trust Co. of Vermont Takes Position in Consolidated Edison Inc $ED

Trust Co. of Vermont acquired a new position in Consolidated Edison Inc (NYSE:ED) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,704 shares of the utilities provider’s stock, valued at approximately $631,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sachetta LLC grew its position in Consolidated Edison by 72.9% during 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 period. JPL Wealth Management LLC bought a new position in Consolidated Edison in the third quarter worth approximately $26,000. Basepoint Wealth LLC bought a new position in Consolidated Edison in the fourth quarter worth approximately $26,000. WealthCollab LLC raised its position in Consolidated Edison by 68.4% in the fourth quarter. WealthCollab LLC now owns 315 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 128 shares during the period. Finally, Turning Point Benefit Group Inc. purchased a new position in shares of Consolidated Edison during the 3rd quarter worth $32,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $109.13 on Wednesday. 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 1-year low of $94.96 and a 1-year high of $116.23. The company has a market capitalization of $40.36 billion, a P/E ratio of 17.92, a P/E/G ratio of 2.83 and a beta of 0.27. The firm’s 50 day simple moving average is $109.95 and its two-hundred day simple moving average is $109.88.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The business had revenue of $4.07 billion during the quarter, compared to analyst estimates 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 in the prior year, the business posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Research analysts expect that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ED. Mizuho set a $114.00 price objective on shares of Consolidated Edison in a research report on Monday, July 27th. KeyCorp decreased their target price on Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating on the stock in a report on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Consolidated Edison in a research report on Tuesday, July 21st. Argus set a $112.00 price target on Consolidated Edison in a report on Tuesday, June 23rd. Finally, The Goldman Sachs Group restated a “sell” rating and issued a $105.00 price target on shares of Consolidated Edison in a research report on Thursday, May 14th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $108.80.

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.