10,572 Shares in Consolidated Edison Inc $ED Purchased by Simplicity Wealth LLC

Simplicity Wealth LLC acquired a new position in Consolidated Edison Inc (NYSE:ED) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,572 shares of the utilities provider’s stock, valued at approximately $1,170,000.

Several other large investors also recently bought and sold shares of the company. Lazard Asset Management LLC grew its holdings in Consolidated Edison by 121,543.9% in the 3rd quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock valued at $599,155,000 after buying an additional 5,955,653 shares in the last quarter. Norges Bank acquired a new position in Consolidated Edison in the 4th quarter valued at about $489,806,000. Bank of New York Mellon Corp purchased a new stake in shares of Consolidated Edison in the 2nd quarter valued at approximately $231,014,000. Deutsche Bank AG grew its stake in shares of Consolidated Edison by 101.4% in the 4th quarter. Deutsche Bank AG now owns 3,617,361 shares of the utilities provider’s stock valued at $359,276,000 after buying an additional 1,820,877 shares during the period. Finally, Amundi grew its stake in shares of Consolidated Edison by 66.2% in the 1st quarter. Amundi now owns 3,872,404 shares of the utilities provider’s stock valued at $438,272,000 after buying an additional 1,543,069 shares during the period. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ED has been the topic of a number of research analyst reports. Morgan Stanley restated an “underweight” rating on shares of Consolidated Edison in a research report on Wednesday, July 22nd. Evercore set a $116.00 target price on shares of Consolidated Edison in a research note on Monday, May 11th. KeyCorp dropped their price target on shares of Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating for the company in a research report on Thursday, July 23rd. Barclays lowered 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, Weiss Ratings reissued a “buy (b)” rating on shares of Consolidated Edison in a research report on Tuesday, July 21st. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, Consolidated Edison has an average rating of “Reduce” and an average target price of $109.07.

Consolidated Edison Stock Down 0.1%

Shares of NYSE ED opened at $108.73 on Monday. The stock 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. 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 12-month low of $94.96 and a 12-month high of $116.23. The business’s fifty day simple moving average is $109.81 and its 200-day simple moving average is $109.83.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. The business had revenue of $4.07 billion during the quarter, compared to analysts’ expectations 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 company earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, equities analysts predict that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Wednesday, August 19th will be issued a $0.8875 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.3%. Consolidated Edison’s dividend payout ratio is presently 58.29%.

About Consolidated Edison

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.