Rubicon Advisors GP purchased a new stake in Consolidated Edison Inc (NYSE:ED – Free Report) in the 4th quarter, HoldingsChannel reports. The firm purchased 5,766 shares of the utilities provider’s stock, valued at approximately $573,000.
Other large investors also recently bought and sold shares of the company. GW&K Investment Management LLC boosted its position in Consolidated Edison by 28.5% during the fourth quarter. GW&K Investment Management LLC now owns 419 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 93 shares in the last quarter. Meadowbrook Wealth Management LLC increased its position in shares of Consolidated Edison by 2.2% in the fourth quarter. Meadowbrook Wealth Management LLC now owns 4,687 shares of the utilities provider’s stock valued at $466,000 after buying an additional 100 shares in the last quarter. bLong Financial LLC increased its position in shares of Consolidated Edison by 1.3% in the fourth quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider’s stock valued at $772,000 after buying an additional 100 shares in the last quarter. Bridgewater Advisors Inc. raised its stake in shares of Consolidated Edison by 1.6% during the 4th quarter. Bridgewater Advisors Inc. now owns 6,635 shares of the utilities provider’s stock worth $689,000 after buying an additional 105 shares during the period. Finally, Venture Visionary Partners LLC raised its stake in shares of Consolidated Edison by 2.0% during the 4th quarter. Venture Visionary Partners LLC now owns 5,606 shares of the utilities provider’s stock worth $557,000 after buying an additional 108 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on ED shares. TD Cowen lifted their price target on shares of Consolidated Edison from $105.00 to $112.00 and gave the company a “hold” rating in a research note on Tuesday, February 24th. Weiss Ratings upgraded shares of Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Evercore set a $116.00 price objective on shares of Consolidated Edison in a report on Monday, May 11th. JPMorgan Chase & Co. lifted their target price on shares of Consolidated Edison from $107.00 to $113.00 and gave the company an “underweight” rating in a research report on Thursday, March 12th. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $105.00 target price on shares of Consolidated Edison in a research note on Thursday, May 14th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $107.79.
Consolidated Edison Stock Up 0.0%
Shares of ED opened at $106.36 on Friday. The stock has a 50 day moving average price of $107.84 and a 200 day moving average price of $106.68. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.19. The stock has a market capitalization of $39.20 billion, a price-to-earnings ratio of 17.91, a PEG ratio of 2.70 and a beta of 0.27.
Consolidated Edison (NYSE:ED – Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the previous year, the business posted $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities research analysts forecast that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.
Consolidated Edison Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th were given a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Wednesday, May 13th. Consolidated Edison’s dividend payout ratio is 59.76%.
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.
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