Corient Private Wealth LP Invests $25.42 Million in Consolidated Edison Inc $ED

Corient Private Wealth LP bought a new stake in shares of Consolidated Edison Inc (NYSE:ED) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 229,747 shares of the utilities provider’s stock, valued at approximately $25,422,000.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on ED shares. Argus set a $112.00 target price on Consolidated Edison in a research report on Tuesday, June 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Consolidated Edison in a research note on Tuesday, July 21st. Morgan Stanley cut their price objective on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a research report on Friday, August 21st. Barclays reduced 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. Finally, Wells Fargo & Company lifted 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 note on Friday, August 7th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $108.93.

Consolidated Edison Price Performance

Shares of ED stock opened at $107.40 on Friday. The stock has a 50 day moving average price of $109.99 and a 200 day moving average price of $109.88. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $116.23. 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 firm has a market capitalization of $39.72 billion, a P/E ratio of 17.64, a P/E/G ratio of 2.71 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last announced 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. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.The company had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter in the prior year, the company posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, sell-side analysts predict that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.3%. Consolidated Edison’s dividend 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.