NewEdge Wealth LLC Acquires Shares of 5,130 Consolidated Edison Inc $ED

NewEdge Wealth LLC bought a new position in Consolidated Edison Inc (NYSE:ED) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,130 shares of the utilities provider’s stock, valued at approximately $568,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ED. BlackRock Inc. purchased a new position in Consolidated Edison in the 2nd quarter worth approximately $4,609,491,000. Deutsche Bank AG bought a new position in Consolidated Edison in the 2nd quarter valued at approximately $749,184,000. Lazard Asset Management LLC boosted its stake in Consolidated Edison by 121,543.9% during 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 purchasing an additional 5,955,653 shares during the last quarter. Norges Bank purchased a new stake in Consolidated Edison during the 4th quarter valued at $489,806,000. Finally, Bank of New York Mellon Corp purchased a new stake in Consolidated Edison during the 2nd quarter valued at $231,014,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Down 1.7%

Consolidated Edison stock opened at $106.52 on Friday. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $116.23. The company has a market cap of $39.39 billion, a P/E ratio of 17.49, a P/E/G ratio of 2.76 and a beta of 0.27. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 1.04. The business has a 50-day simple moving average of $109.96 and a two-hundred day simple moving average of $109.88.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. The company had revenue of $4.07 billion during the quarter, compared to analyst estimates of $3.60 billion. During the same period in the previous year, the business posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Analysts predict that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Wednesday, August 19th will be given a dividend of $0.8875 per share. The ex-dividend date is Wednesday, August 19th. This represents a $3.55 annualized dividend and a yield of 3.3%. Consolidated Edison’s payout ratio is 58.29%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ED shares. The Goldman Sachs Group restated a “sell” rating and issued a $105.00 price target on shares of Consolidated Edison in a research note on Thursday, May 14th. Barclays dropped their price objective on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a research report on Friday, August 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Consolidated Edison in a report on Tuesday, July 21st. Morgan Stanley decreased their target price on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a research report on Friday. Finally, Mizuho set a $114.00 target price on shares of Consolidated Edison in a research note on Monday, July 27th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $108.93.

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.