Invst LLC Acquires Shares of 7,441 Consolidated Edison Inc $ED

Invst LLC acquired a new stake in Consolidated Edison Inc (NYSE:ED) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,441 shares of the utilities provider’s stock, valued at approximately $823,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. QRG Capital Management Inc. raised its holdings in Consolidated Edison by 16.9% in the 1st quarter. QRG Capital Management Inc. now owns 204,989 shares of the utilities provider’s stock valued at $23,201,000 after acquiring an additional 29,635 shares during the period. North Dakota State Investment Board bought a new stake in shares of Consolidated Edison during the fourth quarter worth approximately $1,228,000. Los Angeles Capital Management LLC boosted its holdings in shares of Consolidated Edison by 9.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 253,230 shares of the utilities provider’s stock worth $24,865,000 after acquiring an additional 20,972 shares during the period. M3 Wealth Management LLC acquired a new position in shares of Consolidated Edison in the fourth quarter valued at approximately $1,380,000. Finally, Arbejdsmarkedets Tillaegspension acquired a new position in shares of Consolidated Edison in the fourth quarter valued at approximately $24,109,000. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Trading Down 0.5%

Shares of ED stock opened at $107.15 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 1.04. The stock has a market cap of $39.63 billion, a P/E ratio of 17.59, a price-to-earnings-growth ratio of 2.73 and a beta of 0.27. The stock has a 50 day simple moving average of $109.94 and a 200 day simple moving average of $109.91. Consolidated Edison Inc has a 1 year low of $94.96 and a 1 year high of $116.23.

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

Consolidated Edison Announces Dividend

The business 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 $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 payout ratio is 58.29%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Barclays dropped their price target on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a report on Friday, August 7th. Argus set a $112.00 price objective on Consolidated Edison in a research report on Tuesday, June 23rd. Morgan Stanley dropped their target price on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a report on Friday, August 21st. Wells Fargo & Company boosted their target price on shares of Consolidated Edison from $106.00 to $108.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Finally, 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. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have given a Sell rating to the stock. According to MarketBeat.com, Consolidated Edison currently has an average 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.