Kinloch Capital LLC Purchases New Stake in Consolidated Edison Inc $ED

Kinloch Capital LLC acquired a new position in Consolidated Edison Inc (NYSE:ED) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 40,048 shares of the utilities provider’s stock, valued at approximately $4,431,000.

Several other institutional investors and hedge funds also recently bought and sold shares of ED. Aberdeen Wealth Management LLC acquired a new stake in Consolidated Edison during the second quarter valued at $27,000. Sachetta LLC raised 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 acquiring an additional 102 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in shares of Consolidated Edison in the 3rd quarter valued at $26,000. Basepoint Wealth LLC acquired a new stake in shares of Consolidated Edison in the fourth quarter worth about $26,000. Finally, Keating Financial Advisory Services Inc. acquired a new stake in Consolidated Edison in the 2nd quarter worth approximately $30,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of NYSE:ED opened at $107.73 on Tuesday. The business’s fifty day moving average price is $109.96 and its two-hundred day moving average price is $109.92. Consolidated Edison Inc has a fifty-two week low of $94.96 and a fifty-two week high of $116.23. The stock has a market capitalization of $39.84 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 2.76 and a beta of 0.27. 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 (NYSE:ED) last issued its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.The company had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $3.60 billion. During the same period last year, the business earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, analysts predict that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Wednesday, August 19th will be given a $0.8875 dividend. The ex-dividend date 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%.

Wall Street Analyst Weigh In

ED has been the topic of several research analyst reports. Evercore reaffirmed a “positive” rating and issued a $112.00 price target on shares of Consolidated Edison in a research report on Monday, August 17th. Barclays lowered their price target on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a report on Friday, August 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Consolidated Edison in a report on Tuesday, July 21st. Wells Fargo & Company lifted their target price on shares of Consolidated Edison from $106.00 to $108.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Finally, Morgan Stanley lowered their target price on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a research note on Friday. 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. Based on data from MarketBeat, Consolidated Edison presently has a consensus rating of “Reduce” and a consensus price target of $108.93.

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.