Elevation Point Wealth Partners LLC Takes Position in Consolidated Edison Inc $ED

Elevation Point Wealth Partners LLC bought a new position in Consolidated Edison Inc (NYSE:ED) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,849 shares of the utilities provider’s stock, valued at approximately $647,000.

Other institutional investors and hedge funds have also modified their holdings of the company. QRG Capital Management Inc. grew its holdings in shares of Consolidated Edison by 16.9% during the 1st quarter. QRG Capital Management Inc. now owns 204,989 shares of the utilities provider’s stock valued at $23,201,000 after acquiring an additional 29,635 shares in the last quarter. North Dakota State Investment Board purchased a new stake in shares of Consolidated Edison during the fourth quarter worth $1,228,000. Los Angeles Capital Management LLC boosted its position in Consolidated Edison by 9.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 253,230 shares of the utilities provider’s stock valued at $24,865,000 after purchasing an additional 20,972 shares during the last quarter. M3 Wealth Management LLC acquired a new stake in Consolidated Edison during the fourth quarter valued at $1,380,000. Finally, Arbejdsmarkedets Tillaegspension acquired a new stake in Consolidated Edison during the fourth quarter valued at $24,109,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 1.3%

Shares of ED stock opened at $107.73 on Tuesday. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $116.23. The company has a market cap of $39.84 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 2.76 and a beta of 0.27. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 1.04. The business’s 50 day moving average is $109.96 and its two-hundred day moving average is $109.92.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data 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. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. The business had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $3.60 billion. During the same period in the previous year, the company earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities analysts predict that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Announces Dividend

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 issued a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Wednesday, August 19th. Consolidated Edison’s dividend payout ratio is 58.29%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ED. Wells Fargo & Company upped their target price on Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Consolidated Edison in a research report on Tuesday, July 21st. Barclays dropped their price target on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a research note on Friday, August 7th. Morgan Stanley cut their price target on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a report on Friday. Finally, Argus set a $112.00 price objective on shares of Consolidated Edison in a research note on Tuesday, June 23rd. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $108.93.

Consolidated Edison Company 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.