Joseph P. Lucia & Associates LLC Purchases New Position in Consolidated Edison Inc $ED

Joseph P. Lucia & Associates LLC acquired a new stake in Consolidated Edison Inc (NYSE:ED – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,786 shares of the utilities provider’s stock, valued at approximately $861,000.

Other hedge funds also recently made changes to their positions in the company. Basepoint Wealth LLC acquired a new stake in shares of Consolidated Edison in the 4th quarter valued at about $26,000. JPL Wealth Management LLC acquired a new position in Consolidated Edison during the third quarter worth approximately $26,000. Sachetta LLC increased its position in Consolidated Edison by 72.9% during the first quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock worth $27,000 after buying an additional 102 shares during the period. WealthCollab LLC lifted its stake in Consolidated Edison by 68.4% in the fourth quarter. WealthCollab LLC now owns 315 shares of the utilities provider’s stock valued at $31,000 after buying an additional 128 shares during the last quarter. Finally, Godfrey Financial Associates Inc. purchased a new stake in Consolidated Edison in the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

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Consolidated Edison Stock Up 0.1%

Shares of NYSE:ED opened at $108.91 on Tuesday. Consolidated Edison Inc has a fifty-two week low of $94.96 and a fifty-two week high of $116.23. 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 firm’s 50-day simple moving average is $109.90 and its 200-day simple moving average is $109.85. The company has a market cap of $40.28 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 2.83 and a beta of 0.27.

Consolidated Edison (NYSE:ED – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. The firm had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $3.60 billion. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. During the same period in the prior year, the company posted $0.67 earnings per share. 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 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Wednesday, August 19th will be paid a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 19th. Consolidated Edison’s dividend payout ratio is 58.29%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Evercore restated a “positive” rating and set a $112.00 target price on shares of Consolidated Edison in a research report on Monday. Mizuho set a $114.00 price target on shares of Consolidated Edison in a research report on Monday, July 27th. KeyCorp decreased their price target on shares of Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating for the company in a research note on Thursday, July 23rd. Barclays lowered their price objective on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a research report on Friday, August 7th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Consolidated Edison in a research note on Tuesday, July 21st. Three equities research 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. According to MarketBeat.com, Consolidated Edison currently has a consensus rating of “Reduce” and a consensus price target of $108.80.

Read Our Latest Research Report on ED

About Consolidated Edison

(Free Report)

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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