Meeder Advisory Services Inc. Buys New Holdings in Consolidated Edison Inc $ED

Meeder Advisory Services Inc. purchased a new stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,836 shares of the utilities provider's stock, valued at approximately $1,420,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Basepoint Wealth LLC acquired a new position in shares of Consolidated Edison in the 4th quarter valued at about $26,000. JPL Wealth Management LLC acquired a new stake in Consolidated Edison during the 3rd quarter worth approximately $26,000. Sachetta LLC increased its position in Consolidated Edison by 72.9% during the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider's stock worth $27,000 after purchasing an additional 102 shares in the last quarter. WealthCollab LLC lifted its position in Consolidated Edison by 68.4% during the fourth quarter. WealthCollab LLC now owns 315 shares of the utilities provider's stock valued at $31,000 after buying an additional 128 shares in the last quarter. Finally, Godfrey Financial Associates Inc. purchased a new stake in Consolidated Edison during the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 66.29% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ED shares. Wells Fargo & Company increased their price objective on shares of Consolidated Edison from $106.00 to $108.00 and gave the stock an "equal weight" rating in a research report on Friday, August 7th. Morgan Stanley restated an "underweight" rating on shares of Consolidated Edison in a report on Wednesday, July 22nd. Evercore reaffirmed a "positive" rating and set a $112.00 price target on shares of Consolidated Edison in a research report on Monday. Barclays lowered their price target on Consolidated Edison from $112.00 to $106.00 and set an "underweight" rating for the company in a report on Friday, August 7th. Finally, KeyCorp cut their price objective on Consolidated Edison from $97.00 to $94.00 and set an "underweight" rating on the stock in a research report on Thursday, July 23rd. Three equities 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 company's stock. According to MarketBeat, the company has an average rating of "Reduce" and an average target price of $108.80.

Consolidated Edison Stock Down 1.0%

NYSE ED opened at $108.04 on Thursday. The stock has a market cap of $39.96 billion, a PE ratio of 17.74, a P/E/G ratio of 2.83 and a beta of 0.27. The business has a 50 day moving average price of $109.96 and a two-hundred day moving average price of $109.89. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a fifty-two week low of $94.96 and a fifty-two week 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 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 business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $3.60 billion. During the same period last year, the business earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, sell-side analysts predict that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

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

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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