Burford Brothers Inc. Boosts Stock Holdings in Consolidated Edison Inc $ED

Burford Brothers Inc. increased its stake in Consolidated Edison Inc (NYSE:ED - Free Report) by 487.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,605 shares of the utilities provider's stock after acquiring an additional 15,437 shares during the period. Burford Brothers Inc.'s holdings in Consolidated Edison were worth $2,058,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ED. QRG Capital Management Inc. increased its holdings in Consolidated Edison by 16.9% in the first quarter. QRG Capital Management Inc. now owns 204,989 shares of the utilities provider's stock valued at $23,201,000 after buying an additional 29,635 shares during the last quarter. North Dakota State Investment Board purchased a new stake in Consolidated Edison during the 4th quarter worth about $1,228,000. Los Angeles Capital Management LLC boosted its position in shares of Consolidated Edison by 9.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 253,230 shares of the utilities provider's stock worth $24,865,000 after acquiring an additional 20,972 shares in the last quarter. M3 Wealth Management LLC acquired a new position in shares of Consolidated Edison during the 4th quarter worth about $1,380,000. Finally, Arbejdsmarkedets Tillaegspension purchased a new position in shares of Consolidated Edison in the 4th quarter valued at about $24,109,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ED has been the topic of several recent analyst reports. Argus set a $112.00 price target on shares of Consolidated Edison in a research note on Tuesday, June 23rd. Weiss Ratings restated a "buy (b)" rating on shares of Consolidated Edison in a report on Tuesday, July 21st. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $105.00 target price on shares of Consolidated Edison in a research report on Thursday, May 14th. Mizuho set a $114.00 price target on shares of Consolidated Edison in a research note on Monday, July 27th. Finally, Wells Fargo & Company upped their price objective on shares of Consolidated Edison from $106.00 to $108.00 and gave the company an "equal weight" rating in a research note on Friday, August 7th. 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 data from MarketBeat, Consolidated Edison presently has a consensus rating of "Reduce" and an average target price of $108.93.

Consolidated Edison Stock Up 0.9%

ED stock opened at $108.68 on Friday. The company has a market cap of $40.19 billion, a price-to-earnings ratio of 17.85, a price-to-earnings-growth ratio of 3.73 and a beta of 0.27. The company has a fifty day moving average price of $109.87 and a 200 day moving average price of $109.82. 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 12 month low of $94.96 and a 12 month high of $116.23.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.07. The firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.60 billion. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.During the same quarter last year, the company posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Sell-side analysts expect that Consolidated Edison Inc will post 6.1 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Wednesday, August 19th will be paid 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 is Wednesday, August 19th. Consolidated Edison's dividend payout ratio is 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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