8,200 Shares in Consolidated Edison Inc $ED Bought by Clearstead Trust LLC

Clearstead Trust LLC bought a new position in Consolidated Edison Inc (NYSE:ED) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 8,200 shares of the utilities provider’s stock, valued at approximately $907,000.

A number of other hedge funds also recently added to or reduced their stakes in ED. Sachetta LLC grew its position in shares of Consolidated Edison by 72.9% during the first quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 102 shares during the last quarter. JPL Wealth Management LLC acquired a new position in Consolidated Edison during the 3rd quarter valued at about $26,000. Basepoint Wealth LLC acquired a new position in Consolidated Edison during the 4th quarter valued at about $26,000. WealthCollab LLC increased its stake in shares of Consolidated Edison by 68.4% in the fourth quarter. WealthCollab LLC now owns 315 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 128 shares during the period. Finally, Turning Point Benefit Group Inc. bought a new stake in shares of Consolidated Edison during the third quarter valued at approximately $32,000. 66.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Mizuho set a $114.00 price objective on Consolidated Edison in a report on Monday, July 27th. Evercore set a $116.00 price target on Consolidated Edison in a report on Monday, May 11th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $105.00 price objective on shares of Consolidated Edison in a report on Thursday, May 14th. Morgan Stanley reissued an “underweight” rating on shares of Consolidated Edison in a research note on Wednesday, July 22nd. Finally, Argus set a $112.00 price target on shares of Consolidated Edison in a research note on Tuesday, June 23rd. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $109.07.

Consolidated Edison Price Performance

NYSE:ED opened at $108.73 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 1.04. The business’s 50-day moving average price is $109.81 and its 200 day moving average price is $109.79. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $116.23. The firm has a market cap of $40.21 billion, a P/E ratio of 17.85, a PEG ratio of 2.83 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last issued 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 company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.60 billion. During the same period in the prior year, the company 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 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Wednesday, August 19th will be issued a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, August 19th. Consolidated Edison’s payout ratio is presently 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.