Tidal Investments LLC Acquires 15,243 Shares of Consolidated Edison Inc $ED

Key Points

• Tidal Investments increased its Consolidated Edison stake by 75.5% in the second quarter, buying 15,243 shares for a total holding of 35,439 shares valued at approximately $3.92 million.
• Analyst sentiment remains cautious: Consolidated Edison has a consensus rating of “Reduce” and an average price target of $108.93, with three Buy, six Hold, and six Sell ratings.
• Con Edison exceeded quarterly expectations, reporting $0.83 EPS versus the $0.76 estimate and $4.07 billion in revenue. The company also declared a quarterly dividend of $0.8875, representing a 3.4% annualized yield.

Tidal Investments LLC grew its holdings in Consolidated Edison Inc (NYSE:ED - Free Report) by 75.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 35,439 shares of the utilities provider's stock after purchasing an additional 15,243 shares during the quarter. Tidal Investments LLC's holdings in Consolidated Edison were worth $3,921,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in ED. Aberdeen Wealth Management LLC acquired a new stake in shares of Consolidated Edison in the second quarter valued at $27,000. Sachetta LLC lifted 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 buying an additional 102 shares in the last quarter. Basepoint Wealth LLC bought a new stake in Consolidated Edison during the 4th quarter worth about $26,000. Keating Financial Advisory Services Inc. bought a new stake in Consolidated Edison during the 2nd quarter worth about $30,000. Finally, Cornerstone Financial Management LLC increased its position in Consolidated Edison by 43.2% in the 2nd quarter. Cornerstone Financial Management LLC now owns 318 shares of the utilities provider's stock valued at $35,000 after acquiring an additional 96 shares in the last quarter. Institutional investors own 66.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ED. Argus set a $112.00 target price on shares of Consolidated Edison in a research note on Tuesday, June 23rd. Evercore reissued a "positive" rating and set a $112.00 price target on shares of Consolidated Edison in a research note on Monday, August 17th. Wells Fargo & Company boosted 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. Barclays dropped their price objective on shares of Consolidated Edison from $112.00 to $106.00 and set an "underweight" rating for the company in a research report on Friday, August 7th. Finally, Morgan Stanley reduced their price objective on Consolidated Edison from $105.00 to $101.00 and set an "underweight" rating on the stock in a report on Friday, August 21st. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Reduce" and a consensus target price of $108.93.

Consolidated Edison Stock Performance

Shares of NYSE:ED opened at $105.83 on Tuesday. 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 Inc has a 1-year low of $94.96 and a 1-year high of $116.23. The stock has a market capitalization of $39.14 billion, a P/E ratio of 17.38, a P/E/G ratio of 3.69 and a beta of 0.27. The business has a 50-day moving average price of $109.15 and a two-hundred day moving average price of $109.58.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $3.60 billion. During the same quarter last year, the firm earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities analysts predict that Consolidated Edison Inc will post 6.1 earnings per share for the current year.

Consolidated Edison Announces Dividend

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 paid a $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $3.55 dividend on an annualized basis and a yield of 3.4%. Consolidated Edison's dividend payout ratio (DPR) is presently 58.29%.

Consolidated Edison Company Profile

Consolidated Edison, Inc is an energy delivery holding company headquartered in New York. Through its principal subsidiary, Consolidated Edison Company of New York, Inc, the company provides electric, natural gas and steam service to customers in New York City and Westchester County, New York.

Con Edison also operates Orange and Rockland Utilities, Inc, which supplies electric and natural gas service in parts of southeastern New York and northern New Jersey. Its utility operations include the generation, transmission and distribution of energy, as well as the maintenance of the infrastructure required to serve residential, commercial and industrial customers.

The company traces its roots to energy businesses that began operating in New York during the 19th century and adopted the Consolidated Edison name in the 1930s.

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