Consolidated Edison Inc $ED Shares Bought by Welch Group LLC

Welch Group LLC raised its stake in Consolidated Edison Inc (NYSE:ED) by 1.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 539,917 shares of the utilities provider’s stock after acquiring an additional 6,888 shares during the period. Consolidated Edison makes up 1.9% of Welch Group LLC’s holdings, making the stock its 25th biggest holding. Welch Group LLC’s holdings in Consolidated Edison were worth $55,185,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Hennessy Advisors Inc. raised its stake in Consolidated Edison by 1.3% during the third quarter. Hennessy Advisors Inc. now owns 129,436 shares of the utilities provider’s stock valued at $13,230,000 after buying an additional 1,600 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Consolidated Edison during the 3rd quarter worth approximately $17,879,000. Vise Technologies Inc. grew its position in shares of Consolidated Edison by 2.8% in the 3rd quarter. Vise Technologies Inc. now owns 62,228 shares of the utilities provider’s stock worth $6,360,000 after acquiring an additional 1,723 shares in the last quarter. Cidel Asset Management Inc. grew its position in shares of Consolidated Edison by 3.6% in the 3rd quarter. Cidel Asset Management Inc. now owns 3,843 shares of the utilities provider’s stock worth $393,000 after acquiring an additional 132 shares in the last quarter. Finally, Summit Global Investments grew its position in shares of Consolidated Edison by 56.5% in the 3rd quarter. Summit Global Investments now owns 64,930 shares of the utilities provider’s stock worth $6,636,000 after acquiring an additional 23,442 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Ratings Changes

ED has been the topic of several research reports. The Goldman Sachs Group dropped their price target on Consolidated Edison from $106.00 to $102.00 in a research report on Thursday, October 15th. JPMorgan Chase & Co. decreased their price objective on shares of Consolidated Edison from $115.00 to $112.00 and set an “underweight” rating for the company in a report on Wednesday, August 19th. UBS Group lifted their price objective on shares of Consolidated Edison from $118.00 to $124.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. 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 note on Friday, August 7th. Finally, Scotiabank lowered their target price on shares of Consolidated Edison from $117.00 to $110.00 and set a “sector perform” rating for the company in a research note on Wednesday, September 30th. Four research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $108.09.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $116.81 on Monday. The firm’s 50 day moving average is $107.73 and its two-hundred day moving average is $108.93. The firm has a market capitalization of $43.20 billion, a P/E ratio of 19.18, a PEG ratio of 4.04 and a beta of 0.23. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $117.65.

Consolidated Edison (NYSE:ED) last issued 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. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.60 billion. During the same period in the previous year, the firm posted $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 6.10 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Wednesday, November 18th will be paid a dividend of $0.8875 per share. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $3.55 annualized dividend and a yield of 3.0%. Consolidated Edison’s payout ratio is presently 58.29%.

Consolidated Edison Profile

Consolidated Edison, Inc is a diversified energy company headquartered in New York City. Through its regulated utility subsidiaries, the company delivers electricity, natural gas and steam to residential, commercial and industrial customers.

Its principal subsidiary, Consolidated Edison Company of New York, provides electric service throughout New York City and Westchester County, along with gas service in Manhattan, the Bronx, parts of Queens and Westchester County, and steam service in parts of Manhattan.