Joseph P. Lucia & Associates LLC Buys Shares of 7,786 Consolidated Edison Inc $ED

Joseph P. Lucia & Associates LLC bought a new position in shares of Consolidated Edison Inc (NYSE:ED) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 7,786 shares of the utilities provider’s stock, valued at approximately $861,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. QRG Capital Management Inc. grew its holdings in Consolidated Edison by 16.9% in the first quarter. QRG Capital Management Inc. now owns 204,989 shares of the utilities provider’s stock valued at $23,201,000 after purchasing an additional 29,635 shares during the last quarter. North Dakota State Investment Board acquired a new position in shares of Consolidated Edison in the fourth quarter valued at approximately $1,228,000. Los Angeles Capital Management LLC boosted its position in Consolidated Edison by 9.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 253,230 shares of the utilities provider’s stock worth $24,865,000 after acquiring an additional 20,972 shares during the last quarter. M3 Wealth Management LLC purchased a new stake in Consolidated Edison in the 4th quarter worth approximately $1,380,000. Finally, Arbejdsmarkedets Tillaegspension purchased a new stake in Consolidated Edison in the 4th quarter worth approximately $24,109,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

ED stock opened at $108.91 on Tuesday. The company has a market cap of $40.28 billion, a PE ratio of 17.88, a price-to-earnings-growth 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. The stock has a 50-day moving average price of $109.90 and a two-hundred day moving average price of $109.85. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $116.23.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $3.60 billion. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.During the same period last year, the business posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, research analysts predict that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Dividend Announcement

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

Analyst Ratings Changes

ED has been the topic of several recent analyst reports. The Goldman Sachs Group reiterated a “sell” rating and set a $105.00 target price on shares of Consolidated Edison in a research report on Thursday, May 14th. 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 report on Friday, August 7th. Barclays lowered their target price on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a report on Friday, August 7th. 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. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Consolidated Edison in a research note on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, Consolidated Edison has an average rating of “Reduce” and an average price target of $108.80.

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.