19,024 Shares in Consolidated Edison Inc $ED Bought by United Capital Financial Advisors LLC

Key Points

• United Capital Financial Advisors purchased 19,024 shares of Consolidated Edison during the second quarter, valued at approximately $2.1 million. Institutional investors collectively own 66.29% of the company.
• Con Edison exceeded quarterly expectations, reporting $0.83 in earnings per share versus the $0.76 consensus estimate and $4.07 billion in revenue versus $3.60 billion expected. Management maintained fiscal 2026 EPS guidance of $6.00–$6.20.
• The company declared a quarterly dividend of $0.8875 per share, equivalent to a $3.55 annualized payout and a 3.3% yield. Analyst sentiment remains cautious, with an average “Reduce” rating and a $108.93 target price.

United Capital Financial Advisors LLC bought a new stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 19,024 shares of the utilities provider's stock, valued at approximately $2,105,000.

Several other hedge funds have also bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Consolidated Edison in the 2nd quarter worth approximately $4,609,491,000. State Street Corp lifted its holdings in Consolidated Edison by 3.6% during the fourth quarter. State Street Corp now owns 24,905,440 shares of the utilities provider's stock valued at $2,473,608,000 after purchasing an additional 854,868 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of Consolidated Edison by 14.8% in the first quarter. Lazard Asset Management LLC now owns 7,075,838 shares of the utilities provider's stock worth $800,843,000 after purchasing an additional 910,244 shares during the period. Deutsche Bank AG bought a new position in shares of Consolidated Edison in the second quarter worth approximately $749,184,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Consolidated Edison by 11.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,200,840 shares of the utilities provider's stock worth $516,549,000 after purchasing an additional 514,178 shares in the last quarter. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Trading Up 0.7%

Consolidated Edison stock opened at $107.40 on Friday. Consolidated Edison Inc has a 1 year low of $94.96 and a 1 year high of $116.23. The firm's 50 day moving average price is $109.99 and its 200-day moving average price is $109.88. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.27 and a quick ratio of 1.17. The stock has a market cap of $39.72 billion, a P/E ratio of 17.64, a PEG ratio of 2.71 and a beta of 0.27.

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 for the quarter, topping analysts' consensus estimates of $0.76 by $0.07. The firm had revenue of $4.07 billion during the quarter, compared to analyst estimates of $3.60 billion. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. During the same quarter in the prior year, the business earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, equities analysts predict 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. Shareholders of record on Wednesday, August 19th will be issued a dividend of $0.8875 per share. This represents a $3.55 annualized dividend 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%.

Analyst Ratings Changes

Several brokerages have recently commented on ED. Argus set a $112.00 price objective on shares of Consolidated Edison in a research report on Tuesday, June 23rd. Mizuho set a $114.00 target price on shares of Consolidated Edison in a report on Monday, July 27th. Wells Fargo & Company increased their price target on Consolidated Edison from $106.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Friday, August 7th. KeyCorp decreased their price target on Consolidated Edison from $97.00 to $94.00 and set an "underweight" rating on the stock in a report on Thursday, July 23rd. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Consolidated Edison in a research report on Tuesday, July 21st. Three 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 stock. According to MarketBeat.com, Consolidated Edison has an average rating of "Reduce" and an average target price of $108.93.

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.

Want to see what other hedge funds are holding ED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Consolidated Edison Inc (NYSE:ED - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source