Patrick Mauro Investment Advisor INC. Buys New Shares in Consolidated Edison Inc $ED

Patrick Mauro Investment Advisor INC. purchased a new stake in shares of Consolidated Edison Inc (NYSE:ED) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,885 shares of the utilities provider’s stock, valued at approximately $540,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. GW&K Investment Management LLC raised its stake in shares of Consolidated Edison by 28.5% in the fourth quarter. GW&K Investment Management LLC now owns 419 shares of the utilities provider’s stock worth $42,000 after buying an additional 93 shares during the period. bLong Financial LLC increased its holdings in Consolidated Edison by 1.3% in the 4th quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider’s stock worth $772,000 after acquiring an additional 100 shares in the last quarter. Sachetta LLC increased its holdings in Consolidated Edison by 72.9% in the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 102 shares in the last quarter. Frank Rimerman Advisors LLC raised its stake in Consolidated Edison by 1.3% during the 1st quarter. Frank Rimerman Advisors LLC now owns 8,275 shares of the utilities provider’s stock worth $937,000 after acquiring an additional 105 shares during the period. Finally, Venture Visionary Partners LLC lifted its holdings in Consolidated Edison by 2.0% during the fourth quarter. Venture Visionary Partners LLC now owns 5,606 shares of the utilities provider’s stock valued at $557,000 after purchasing an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

ED stock opened at $108.04 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.17 and a current ratio of 1.27. The company’s fifty day moving average price is $109.96 and its 200-day moving average price is $109.89. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23. The company has a market capitalization of $39.96 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 2.83 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.76 by $0.07. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.60 billion. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. During the same quarter in the prior year, the firm earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, equities analysts anticipate that Consolidated Edison Inc will post 6.09 EPS for the current fiscal 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 given a $0.8875 dividend. 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 currently 58.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wells Fargo & Company upped their price target on shares of Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. The Goldman Sachs Group restated a “sell” rating and set a $105.00 target price on shares of Consolidated Edison in a research note on Thursday, May 14th. Mizuho set a $114.00 target price on shares of Consolidated Edison in a report on Monday, July 27th. Morgan Stanley reiterated an “underweight” rating on shares of Consolidated Edison in a research note on Wednesday, July 22nd. Finally, Barclays decreased their price target on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a report on Friday, August 7th. Three equities 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $108.80.

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.