Shepherd Financial Partners LLC Takes Position in Consolidated Edison Inc $ED

Shepherd Financial Partners LLC purchased a new stake in shares of Consolidated Edison Inc (NYSE:ED) in the second quarter, Holdings Channel reports. The firm purchased 14,759 shares of the utilities provider’s stock, valued at approximately $1,633,000.

A number of other hedge funds have also bought and sold shares of the business. Basepoint Wealth LLC purchased a new position in Consolidated Edison in the fourth quarter worth $26,000. JPL Wealth Management LLC purchased a new stake in shares of Consolidated Edison during the 3rd quarter valued at $26,000. Sachetta LLC increased its position in shares of Consolidated Edison by 72.9% during the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 102 shares during the last quarter. WealthCollab LLC raised its stake in shares of Consolidated Edison by 68.4% during the 4th quarter. WealthCollab LLC now owns 315 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 128 shares during the period. Finally, Godfrey Financial Associates Inc. bought a new stake in shares of Consolidated Edison during the 4th quarter worth $32,000. 66.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ED shares. Wells Fargo & Company boosted their price target 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 dropped their target price 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. KeyCorp reduced their target price 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. Evercore restated a “positive” rating and set a $112.00 price target on shares of Consolidated Edison in a research note on Monday. Finally, Mizuho set a $114.00 price target on shares of Consolidated Edison in a report on Monday, July 27th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $108.80.

Consolidated Edison Trading Down 1.0%

Shares of ED opened at $108.04 on Thursday. Consolidated Edison Inc has a fifty-two week low of $94.96 and a fifty-two week high of $116.23. The business has a 50-day moving average of $109.96 and a 200 day moving average of $109.89. The firm has a market cap of $39.96 billion, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 2.83 and a beta of 0.27. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.17 and a current ratio of 1.27.

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 for 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 period in the prior year, the firm earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, research analysts forecast that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Announces Dividend

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 paid a dividend of $0.8875 per share. 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 dividend payout ratio is presently 58.29%.

Consolidated Edison 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.