Beacon Pointe Advisors LLC Purchases Shares of 30,390 Consolidated Edison Inc $ED

Key Points

• Beacon Pointe Advisors bought 30,390 shares of Consolidated Edison in the second quarter, valued at approximately $3.36 million. Institutional investors collectively own 66.29% of the utility’s outstanding shares.
• Consolidated Edison exceeded quarterly expectations, reporting $0.83 in EPS versus the $0.76 consensus and revenue of $4.07 billion versus $3.60 billion expected. The company projects fiscal 2026 EPS of $6.00–$6.20.
• The company declared a quarterly dividend of $0.8875 per share, equivalent to a 3.3% annualized yield. Analyst sentiment remains cautious, with an average “Reduce” rating and a $108.93 target price.

Beacon Pointe Advisors LLC bought a new position in Consolidated Edison Inc (NYSE:ED - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 30,390 shares of the utilities provider's stock, valued at approximately $3,362,000.

Other institutional investors have also recently bought and sold shares of the company. GW&K Investment Management LLC increased its stake in Consolidated Edison by 28.5% during the fourth quarter. GW&K Investment Management LLC now owns 419 shares of the utilities provider's stock worth $42,000 after acquiring an additional 93 shares during the last quarter. bLong Financial LLC increased its position in Consolidated Edison by 1.3% during the 4th quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider's stock worth $772,000 after purchasing an additional 100 shares in the last quarter. Sachetta LLC raised its holdings in Consolidated Edison by 72.9% in 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 period. Frank Rimerman Advisors LLC lifted its position in Consolidated Edison by 1.3% during the first quarter. Frank Rimerman Advisors LLC now owns 8,275 shares of the utilities provider's stock valued at $937,000 after buying an additional 105 shares in the last quarter. Finally, Venture Visionary Partners LLC lifted its position in Consolidated Edison by 2.0% during the fourth quarter. Venture Visionary Partners LLC now owns 5,606 shares of the utilities provider's stock valued at $557,000 after buying an additional 108 shares in the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Stock Up 0.7%

Shares of Consolidated Edison stock opened at $107.40 on Friday. The stock has a market capitalization of $39.72 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 2.73 and a beta of 0.27. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 1.04. The business's 50 day simple moving average is $109.99 and its 200-day simple moving average is $109.88.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 EPS 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 the consensus estimate of $3.60 billion. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.During the same period in the prior year, the business earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities research analysts forecast that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The company 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 $0.8875 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $3.55 annualized dividend and a yield of 3.3%. Consolidated Edison's dividend payout ratio (DPR) is currently 58.29%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. 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 report on Thursday, July 23rd. Wells Fargo & Company boosted their price objective 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. Evercore reiterated a "positive" rating and issued a $112.00 target price on shares of Consolidated Edison in a research note on Monday, August 17th. Mizuho set a $114.00 price objective on shares of Consolidated Edison in a research report on Monday, July 27th. Finally, Morgan Stanley decreased their target price on shares of Consolidated Edison from $105.00 to $101.00 and set an "underweight" rating for the company in a research note on Friday, August 21st. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, Consolidated Edison has an average rating of "Reduce" and an average target price of $108.93.

Consolidated Edison Company Profile

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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