Inspire Investing LLC Buys Shares of 14,145 Consolidated Edison Inc $ED

Inspire Investing LLC purchased a new stake in Consolidated Edison Inc (NYSE:ED) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,145 shares of the utilities provider’s stock, valued at approximately $1,601,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ED. Basepoint Wealth LLC bought a new stake in Consolidated Edison in the fourth quarter valued at about $26,000. JPL Wealth Management LLC bought a new position in Consolidated Edison during the third quarter worth about $26,000. Aventura Private Wealth LLC bought a new position in Consolidated Edison during the fourth quarter worth about $27,000. Westfuller Advisors LLC acquired a new position in shares of Consolidated Edison during the 4th quarter worth about $27,000. Finally, Dorato Capital Management acquired a new position in shares of Consolidated Edison during the 4th quarter worth about $28,000. 66.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ED has been the topic of a number of analyst reports. Morgan Stanley reiterated an “underweight” rating on shares of Consolidated Edison in a research report on Wednesday, June 24th. Wells Fargo & Company set a $98.00 price objective on shares of Consolidated Edison in a report on Tuesday, April 21st. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $105.00 target price on shares of Consolidated Edison in a research note on Thursday, May 14th. Mizuho reiterated a “neutral” rating and issued a $105.00 target price on shares of Consolidated Edison in a report on Tuesday, June 2nd. Finally, Barclays reduced their price target on shares of Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating on the stock in a research report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $108.07.

Consolidated Edison Trading Down 1.4%

Shares of NYSE:ED opened at $110.73 on Wednesday. The firm has a market cap of $40.81 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 2.85 and a beta of 0.27. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $116.23. The company’s fifty day simple moving average is $107.62 and its 200 day simple moving average is $107.44. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, May 7th. The utilities provider reported $2.18 earnings per share for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.10). Consolidated Edison had a return on equity of 8.33% and a net margin of 12.52%.The company had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same period in the previous year, the company posted $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, research analysts forecast that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Wednesday, May 13th were given a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Wednesday, May 13th. Consolidated Edison’s dividend payout ratio (DPR) is currently 59.76%.

Consolidated Edison 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.