Principle Wealth Partners LLC Acquires Shares of 5,338 Consolidated Edison Inc $ED

Principle Wealth Partners LLC bought a new stake in Consolidated Edison Inc (NYSE:ED) during the 2nd quarter, HoldingsChannel reports. The fund bought 5,338 shares of the utilities provider’s stock, valued at approximately $591,000.

A number of other large investors have also recently made changes to their positions in ED. Basepoint Wealth LLC bought a new stake in Consolidated Edison in the fourth quarter worth about $26,000. JPL Wealth Management LLC purchased a new stake in shares of Consolidated Edison in the third quarter worth approximately $26,000. Sachetta LLC lifted its stake in shares of 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 acquiring an additional 102 shares during the last quarter. WealthCollab LLC boosted its holdings in Consolidated Edison by 68.4% during the 4th quarter. WealthCollab LLC now owns 315 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 128 shares during the period. Finally, Godfrey Financial Associates Inc. bought a new position in Consolidated Edison in the 4th quarter valued at $32,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ED has been the subject of several research analyst reports. Argus set a $112.00 target price on Consolidated Edison in a research report on Tuesday, June 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Consolidated Edison in a report on Tuesday, July 21st. Barclays reduced their price target on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a research note on Friday, August 7th. Evercore reissued a “positive” rating and issued a $112.00 price objective on shares of Consolidated Edison in a research report on Monday. Finally, KeyCorp lowered their price objective 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. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Consolidated Edison currently has an average rating of “Reduce” and an average target price of $108.80.

Consolidated Edison Stock Performance

Shares of ED opened at $108.91 on Tuesday. The stock has a fifty day moving average price of $109.90 and a 200-day moving average price of $109.85. 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 firm has a market cap of $40.28 billion, a PE ratio of 17.88, a P/E/G 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, topping analysts’ consensus estimates of $0.76 by $0.07. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.60 billion. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.During the same quarter in the previous year, the firm earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities research analysts predict that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Wednesday, August 19th will be paid a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a yield of 3.3%. The ex-dividend date is Wednesday, August 19th. Consolidated Edison’s 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.