Strive Asset Management LLC Takes Position in Consolidated Edison Inc $ED

Strive Asset Management LLC purchased a new stake in shares of Consolidated Edison Inc (NYSE:ED) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 10,000 shares of the utilities provider’s stock, valued at approximately $1,005,000.

Other hedge funds have also bought and sold shares of the company. Revolve Wealth Partners LLC boosted its holdings in shares of Consolidated Edison by 13.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after acquiring an additional 441 shares during the period. Empowered Funds LLC boosted its stake in Consolidated Edison by 42.1% in the 1st quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock worth $993,000 after purchasing an additional 2,659 shares during the period. Woodline Partners LP grew its holdings in Consolidated Edison by 40.7% during the 1st quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock valued at $3,237,000 after buying an additional 8,468 shares in the last quarter. Hantz Financial Services Inc. bought a new stake in shares of Consolidated Edison during the second quarter valued at about $189,000. Finally, Retirement Systems of Alabama lifted its holdings in shares of Consolidated Edison by 3.8% in the second quarter. Retirement Systems of Alabama now owns 77,312 shares of the utilities provider’s stock worth $7,758,000 after buying an additional 2,861 shares in the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on ED. UBS Group boosted their price objective on shares of Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. Mizuho set a $118.00 price target on shares of Consolidated Edison in a research report on Monday, February 23rd. TD Cowen upped their price target on shares of Consolidated Edison from $105.00 to $112.00 and gave the stock a “hold” rating in a report on Tuesday, February 24th. Morgan Stanley reissued an “underweight” rating and set a $102.00 price objective on shares of Consolidated Edison in a research note on Friday, February 20th. Finally, Wells Fargo & Company reduced their target price on Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 20th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $107.07.

Consolidated Edison Stock Down 0.3%

ED opened at $112.15 on Tuesday. The business’s fifty day simple moving average is $105.26 and its 200 day simple moving average is $101.19. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $115.25. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 1.06. The stock has a market cap of $40.51 billion, a PE ratio of 19.85, a P/E/G ratio of 3.01 and a beta of 0.38.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, February 19th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.03. The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.71 billion. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, research analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Wednesday, February 18th will be issued a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Wednesday, February 18th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.85. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.83%.

Insider Activity

In related news, Director John F. Killian sold 2,276 shares of the stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $96.89, for a total transaction of $220,521.64. Following the transaction, the director owned 38,661 shares of the company’s stock, valued at approximately $3,745,864.29. This trade represents a 5.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.17% of the company’s stock.

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.