Perigon Wealth Management LLC purchased a new stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 14,020 shares of the utilities provider's stock, valued at approximately $1,551,000.
A number of other large investors have also added to or reduced their stakes in the company. Basepoint Wealth LLC purchased a new position in shares of Consolidated Edison in the fourth quarter valued at about $26,000. JPL Wealth Management LLC purchased a new stake in shares of Consolidated Edison during the third quarter worth about $26,000. Sachetta LLC grew its stake in shares of Consolidated Edison by 72.9% in the first quarter. Sachetta LLC now owns 242 shares of the utilities provider's stock worth $27,000 after purchasing an additional 102 shares during the last quarter. WealthCollab LLC increased its holdings in Consolidated Edison by 68.4% during the 4th quarter. WealthCollab LLC now owns 315 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 128 shares during the period. Finally, Godfrey Financial Associates Inc. bought a new position in Consolidated Edison during the 4th quarter valued at approximately $32,000. Institutional investors own 66.29% of the company's stock.
Consolidated Edison Stock Up 0.1%
ED stock opened at $108.91 on Tuesday. The stock has a market capitalization of $40.28 billion, a P/E ratio of 17.88, a P/E/G ratio of 2.83 and a beta of 0.27. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.27 and a quick ratio of 1.17. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.23. The business has a fifty day moving average price of $109.90 and a 200-day moving average price of $109.85.
Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 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 analysts' expectations of $3.60 billion. During the same period last year, the firm posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities analysts forecast that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.
Consolidated Edison Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors 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 dividend on an annualized basis and a yield of 3.3%. Consolidated Edison's dividend payout ratio is 58.29%.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on ED. Barclays cut their price objective on Consolidated Edison from $112.00 to $106.00 and set an "underweight" rating on the stock in a research report on Friday, August 7th. Weiss Ratings reissued a "buy (b)" rating on shares of Consolidated Edison in a research report on Tuesday, July 21st. KeyCorp lowered their price objective on shares of Consolidated Edison from $97.00 to $94.00 and set an "underweight" rating for the company in a report on Thursday, July 23rd. Mizuho set a $114.00 target price on shares of Consolidated Edison in a research report on Monday, July 27th. Finally, Evercore restated a "positive" rating and issued a $112.00 price target on shares of Consolidated Edison in a research note on Monday. Three 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. Based on data from MarketBeat, Consolidated Edison currently has an average rating of "Reduce" and an average target price of $108.80.
Get Our Latest Stock Analysis on ED
Consolidated Edison Company Profile
(
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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