NewEdge Wealth LLC Purchases Shares of 5,130 Consolidated Edison Inc $ED

NewEdge Wealth LLC purchased a new position in Consolidated Edison Inc (NYSE:ED) in the second quarter, HoldingsChannel reports. The firm purchased 5,130 shares of the utilities provider’s stock, valued at approximately $568,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Basepoint Wealth LLC bought a new position in Consolidated Edison in the 4th quarter worth $26,000. JPL Wealth Management LLC purchased a new position in shares of Consolidated Edison in the third quarter valued at about $26,000. Sachetta LLC boosted its stake in shares of Consolidated Edison by 72.9% in the first quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 102 shares during the period. Godfrey Financial Associates Inc. bought a new position in shares of Consolidated Edison in the fourth quarter worth about $32,000. Finally, Turning Point Benefit Group Inc. purchased a new stake in shares of Consolidated Edison during the third quarter worth about $32,000. 66.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ED shares. Mizuho set a $114.00 price target on Consolidated Edison in a research note on Monday, July 27th. KeyCorp dropped their target price on shares of Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating for the company in a research report on Thursday, July 23rd. Argus set a $112.00 price target on shares of Consolidated Edison in a report on Tuesday, June 23rd. Morgan Stanley dropped their price objective on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a report on Friday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Consolidated Edison in a report on Tuesday, July 21st. Three investment 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’s stock. According to MarketBeat.com, Consolidated Edison currently has an average rating of “Reduce” and a consensus target price of $108.93.

Consolidated Edison Price Performance

Shares of Consolidated Edison stock opened at $106.52 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.17 and a current ratio of 1.27. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23. The stock has a market cap of $39.39 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 2.76 and a beta of 0.27. The stock has a 50 day moving average price of $109.96 and a 200-day moving average price of $109.88.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The firm had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $3.60 billion. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.During the same quarter in the prior year, the firm posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities analysts expect that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Dividend Announcement

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

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.