Bridgewater Advisors Inc. Takes $743,000 Position in Consolidated Edison Inc $ED

Bridgewater Advisors Inc. acquired a new position in shares of Consolidated Edison Inc (NYSE:ED) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 6,884 shares of the utilities provider’s stock, valued at approximately $743,000.

Other institutional investors have also recently modified their holdings of the company. Basepoint Wealth LLC purchased a new stake in Consolidated Edison in the 4th quarter valued at approximately $26,000. JPL Wealth Management LLC purchased a new position in Consolidated Edison during the third quarter worth $26,000. Sachetta LLC increased its position in Consolidated Edison by 72.9% during the first quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock worth $27,000 after buying an additional 102 shares in the last quarter. WealthCollab LLC raised its holdings in shares of Consolidated Edison by 68.4% in the fourth quarter. WealthCollab LLC now owns 315 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 128 shares during the last quarter. Finally, Godfrey Financial Associates Inc. acquired a new position in shares of Consolidated Edison in the fourth quarter worth $32,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Trading Up 0.3%

Shares of Consolidated Edison stock opened at $108.73 on Friday. Consolidated Edison Inc has a fifty-two week low of $94.96 and a fifty-two week high of $116.23. The firm has a market cap of $40.21 billion, a PE ratio of 17.85, a P/E/G ratio of 2.83 and a beta of 0.27. The business’s fifty day moving average is $109.81 and its two-hundred day moving average is $109.79. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. The business had revenue of $4.07 billion for the quarter, compared to analysts’ expectations 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 last year, the firm earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Analysts anticipate that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm 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 $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 19th. Consolidated Edison’s dividend payout ratio (DPR) is presently 58.29%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ED. Barclays reduced 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. Argus set a $112.00 target price on shares of Consolidated Edison in a research note on Tuesday, June 23rd. Evercore set a $116.00 target price on shares of Consolidated Edison in a report on Monday, May 11th. Mizuho set a $114.00 price target on shares of Consolidated Edison in a research note on Monday, July 27th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Consolidated Edison in a report on Tuesday, July 21st. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $109.07.

Consolidated Edison Company 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.