Perigon Wealth Management LLC bought a new stake in Consolidated Edison Inc (NYSE:ED – Free Report) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 14,020 shares of the utilities provider’s stock, valued at approximately $1,551,000.
Other large investors have also made changes to their positions in the company. Sachetta LLC increased its position in shares of Consolidated Edison by 72.9% during the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 102 shares during the last quarter. JPL Wealth Management LLC purchased a new position in shares of Consolidated Edison in the third quarter worth approximately $26,000. Basepoint Wealth LLC purchased a new position in shares of Consolidated Edison in the fourth quarter worth approximately $26,000. WealthCollab LLC grew its position in Consolidated Edison by 68.4% during 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 period. Finally, Turning Point Benefit Group Inc. bought a new stake in Consolidated Edison during the third quarter valued at approximately $32,000. 66.29% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms have weighed in on ED. Mizuho set a $114.00 price target on shares of Consolidated Edison in a research report on Monday, July 27th. Barclays decreased their target price on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a report on Friday, August 7th. The Goldman Sachs Group reissued a “sell” rating and set a $105.00 price target on shares of Consolidated Edison in a report on Thursday, May 14th. Wells Fargo & Company upped their price target 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. Finally, Evercore reaffirmed a “positive” rating and issued a $112.00 price objective on shares of Consolidated Edison in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $108.80.
Consolidated Edison Price Performance
Shares of Consolidated Edison stock opened at $108.91 on Tuesday. The company has a market capitalization of $40.28 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 2.83 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 stock’s 50-day simple moving average is $109.90 and its 200-day simple moving average is $109.85. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $116.23.
Consolidated Edison (NYSE:ED – Get Free Report) last issued its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.The company had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter last year, the company earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, analysts expect that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.
Consolidated Edison Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Wednesday, August 19th will be given a dividend of $0.8875 per share. The ex-dividend date is Wednesday, August 19th. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. Consolidated Edison’s dividend payout ratio (DPR) is presently 58.29%.
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.
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