Inspire Investing LLC Makes New Investment in Consolidated Edison Inc $ED

Inspire Investing LLC acquired a new position in shares of Consolidated Edison Inc (NYSE:ED) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,145 shares of the utilities provider’s stock, valued at approximately $1,601,000.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Consolidated Edison by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 45,636,041 shares of the utilities provider’s stock valued at $4,532,572,000 after acquiring an additional 461,108 shares during the last quarter. State Street Corp grew its stake in Consolidated Edison by 3.6% in the fourth quarter. State Street Corp now owns 24,905,440 shares of the utilities provider’s stock valued at $2,473,608,000 after purchasing an additional 854,868 shares in the last quarter. Lazard Asset Management LLC grew its stake in Consolidated Edison by 3.4% in the fourth quarter. Lazard Asset Management LLC now owns 6,165,594 shares of the utilities provider’s stock valued at $612,367,000 after purchasing an additional 205,041 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Consolidated Edison by 11.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,200,840 shares of the utilities provider’s stock worth $516,549,000 after purchasing an additional 514,178 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Consolidated Edison during the 4th quarter worth approximately $489,806,000. Institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

ED has been the subject of several recent analyst reports. The Goldman Sachs Group reissued a “sell” rating and issued a $105.00 price objective on shares of Consolidated Edison in a report on Thursday, May 14th. Argus set a $112.00 price target on shares of Consolidated Edison in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. increased their price target on shares of Consolidated Edison from $107.00 to $113.00 and gave the company an “underweight” rating in a research note on Thursday, March 12th. Barclays decreased their price objective on shares of Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating for the company in a research report on Monday, May 11th. Finally, Mizuho restated a “neutral” rating and set a $105.00 price objective on shares of Consolidated Edison in a research note on Tuesday, June 2nd. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Consolidated Edison presently has an average rating of “Reduce” and a consensus target price of $108.07.

Consolidated Edison Stock Performance

Shares of NYSE ED opened at $110.73 on Wednesday. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $40.81 billion, a P/E ratio of 18.64, a P/E/G ratio of 2.85 and a beta of 0.27. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $116.23. The stock has a 50 day moving average of $107.62 and a 200-day moving average of $107.44.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, May 7th. The utilities provider reported $2.18 earnings per share for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.10). Consolidated Edison had a net margin of 12.52% and a return on equity of 8.33%. The business had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter last year, the company posted $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, equities research analysts predict that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th were given a $0.8875 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $3.55 annualized dividend and a dividend yield of 3.2%. Consolidated Edison’s dividend payout ratio is presently 59.76%.

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.