EP Wealth Advisors LLC acquired a new position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 20,311 shares of the utilities provider's stock, valued at approximately $2,247,000.
A number of other large investors have also recently made changes to their positions in ED. Heartland Bank & Trust Co purchased a new stake in shares of Consolidated Edison in the 2nd quarter valued at $278,000. Pinnacle West Asset Management Inc. purchased a new position in shares of Consolidated Edison during the second quarter worth $325,000. Ieq Capital LLC purchased a new position in shares of Consolidated Edison during the second quarter worth $7,058,000. Callan Family Office LLC acquired a new position in Consolidated Edison during the second quarter valued at $603,000. Finally, Expressive Wealth LLC purchased a new stake in Consolidated Edison in the second quarter valued at $209,000. 66.29% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the company. Barclays reduced their price objective on Consolidated Edison from $112.00 to $106.00 and set an "underweight" rating for the company in a research note on Friday, August 7th. Argus set a $112.00 target price on Consolidated Edison in a report on Tuesday, June 23rd. Evercore reaffirmed a "positive" rating and set a $112.00 target price on shares of Consolidated Edison in a report on Monday, August 17th. Wells Fargo & Company lifted their price target on Consolidated Edison from $106.00 to $108.00 and gave the company an "equal weight" rating in a research report on Friday, August 7th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Consolidated Edison in a 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $108.93.
Check Out Our Latest Research Report on ED
Consolidated Edison Stock Performance
NYSE:ED opened at $106.52 on Friday. The company has a market cap of $39.39 billion, a P/E ratio of 17.49, a P/E/G ratio of 2.76 and a beta of 0.27. The company's 50-day moving average price is $109.96 and its 200-day moving average price is $109.88. 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.
Consolidated Edison (NYSE:ED - Get Free Report) last issued its earnings results 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 company had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $3.60 billion. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. During the same period in the previous year, the firm earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, sell-side 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. Stockholders of record on Wednesday, August 19th will be given a dividend of $0.8875 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.3%. Consolidated Edison's payout ratio is currently 58.29%.
Consolidated Edison Company Profile
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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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