Allworth Financial LP Makes New Investment in Consolidated Edison Inc $ED

Key Points

• Allworth Financial LP initiated a position in Consolidated Edison during the second quarter, purchasing 13,806 shares valued at approximately $1.53 million. Institutional investors collectively own 66.29% of the company.
• Analyst sentiment remains cautious, with a consensus “Reduce” rating and an average price target of $108.93. Recent ratings included underweight calls from KeyCorp and Morgan Stanley, offset by positive views from Evercore and Weiss Ratings.
• Con Edison exceeded quarterly earnings expectations, reporting $0.83 EPS and $4.07 billion in revenue, while maintaining 2026 EPS guidance of $6.00–$6.20. The company also declared a quarterly dividend of $0.8875, representing a 3.3% annualized yield.

Allworth Financial LP bought a new position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 13,806 shares of the utilities provider's stock, valued at approximately $1,527,000.

A number of other hedge funds also recently made changes to their positions in the company. Basepoint Wealth LLC purchased a new stake in Consolidated Edison in the 4th quarter worth about $26,000. JPL Wealth Management LLC purchased a new position in shares of Consolidated Edison during the third quarter valued at approximately $26,000. Sachetta LLC grew its stake in shares of Consolidated Edison by 72.9% during the first quarter. Sachetta LLC now owns 242 shares of the utilities provider's stock valued at $27,000 after buying an additional 102 shares during the last quarter. Godfrey Financial Associates Inc. bought a new position in shares of Consolidated Edison during the fourth quarter valued at approximately $32,000. Finally, Turning Point Benefit Group Inc. purchased a new stake in shares of Consolidated Edison in the third quarter worth approximately $32,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ED has been the subject of several research analyst reports. KeyCorp decreased their target price on Consolidated Edison from $97.00 to $94.00 and set an "underweight" rating for the company in a research report on Thursday, July 23rd. Morgan Stanley reduced their price target on shares of Consolidated Edison from $105.00 to $101.00 and set an "underweight" rating on the stock in a research note on Friday. Wells Fargo & Company lifted their price objective on shares of Consolidated Edison from $106.00 to $108.00 and gave the company an "equal weight" rating in a report on Friday, August 7th. Evercore reissued a "positive" rating and issued a $112.00 price objective on shares of Consolidated Edison in a research report on Monday. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Consolidated Edison in a research note on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $108.93.

Consolidated Edison Stock Down 1.7%

ED stock opened at $106.52 on Friday. The firm has a 50 day moving average of $109.96 and a 200 day moving average of $109.88. 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 has a market capitalization of $39.39 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 2.81 and a beta of 0.27. 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 posted its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.07. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. The company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.60 billion. During the same period in the previous year, the firm posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Sell-side analysts forecast that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm 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 $0.8875 dividend. 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 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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