Merit Financial Group LLC Buys 5,419 Shares of Consolidated Edison Inc $ED

Merit Financial Group LLC increased its stake in shares of Consolidated Edison Inc (NYSE:ED) by 37.1% during the fourth quarter, HoldingsChannel reports. The fund owned 20,026 shares of the utilities provider’s stock after acquiring an additional 5,419 shares during the quarter. Merit Financial Group LLC’s holdings in Consolidated Edison were worth $1,989,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPL Wealth Management LLC bought a new position in Consolidated Edison during the third quarter worth $26,000. Aventura Private Wealth LLC bought a new position in Consolidated Edison during the fourth quarter worth $27,000. Westfuller Advisors LLC bought a new position in Consolidated Edison during the fourth quarter worth $27,000. Dorato Capital Management bought a new position in Consolidated Edison during the fourth quarter worth $28,000. Finally, Salomon & Ludwin LLC increased its position in Consolidated Edison by 270.4% during the third quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 219 shares during the period. Institutional investors own 66.29% of the company’s stock.

Insider Buying and Selling at Consolidated Edison

In other news, SVP Deneen L. Donnley sold 1,922 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $113.94, for a total value of $218,992.68. Following the completion of the sale, the senior vice president directly owned 32,453 shares in the company, valued at approximately $3,697,694.82. This trade represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

ED has been the subject of several research reports. Morgan Stanley reduced their target price on Consolidated Edison from $106.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. raised their target price on Consolidated Edison from $107.00 to $113.00 and gave the stock an “underweight” rating in a research report on Thursday, March 12th. Scotiabank raised their target price on Consolidated Edison from $113.00 to $117.00 and gave the stock a “sector perform” rating in a research report on Friday, February 20th. Citigroup reaffirmed a “buy” rating on shares of Consolidated Edison in a research report on Monday, February 23rd. Finally, TD Cowen raised their target price on Consolidated Edison from $105.00 to $112.00 and gave the stock a “hold” rating in a research report on Tuesday, February 24th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat, Consolidated Edison presently has a consensus rating of “Reduce” and an average target price of $108.50.

Consolidated Edison Stock Performance

Shares of NYSE:ED opened at $108.24 on Wednesday. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23. The firm has a market cap of $39.88 billion, a PE ratio of 19.16, a price-to-earnings-growth ratio of 2.79 and a beta of 0.34. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 1.02. The business has a fifty day moving average of $112.15 and a 200-day moving average of $104.68.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.03. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.The company had revenue of $4 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same period last year, the company posted $0.98 earnings per share. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, equities research analysts predict that Consolidated Edison Inc will post 6.07 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th will be paid a $0.8875 dividend. The ex-dividend date is Wednesday, May 13th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.3%. Consolidated Edison’s dividend payout ratio (DPR) is 62.83%.

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.