Cresset Asset Management LLC Has $8.01 Million Stock Position in Consolidated Edison Inc $ED

Cresset Asset Management LLC boosted its stake in shares of Consolidated Edison Inc (NYSE:ED) by 7.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 79,682 shares of the utilities provider’s stock after acquiring an additional 5,403 shares during the quarter. Cresset Asset Management LLC’s holdings in Consolidated Edison were worth $8,010,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ED. Revolve Wealth Partners LLC raised its position in Consolidated Edison by 13.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after purchasing an additional 441 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Consolidated Edison by 42.1% in the 1st quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock valued at $993,000 after buying an additional 2,659 shares during the period. Woodline Partners LP raised its position in shares of Consolidated Edison by 40.7% during the first quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock worth $3,237,000 after acquiring an additional 8,468 shares during the last quarter. Atria Investments Inc lifted its stake in shares of Consolidated Edison by 37.2% during the second quarter. Atria Investments Inc now owns 9,933 shares of the utilities provider’s stock valued at $997,000 after acquiring an additional 2,693 shares during the period. Finally, Crestwood Advisors Group LLC boosted its holdings in Consolidated Edison by 10.1% in the second quarter. Crestwood Advisors Group LLC now owns 5,412 shares of the utilities provider’s stock valued at $543,000 after acquiring an additional 496 shares during the last quarter. 66.29% of the stock is owned by institutional investors.

Insider Buying and Selling at Consolidated Edison

In related news, Director John F. Killian sold 2,276 shares of Consolidated Edison stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $96.89, for a total value of $220,521.64. Following the sale, the director owned 38,661 shares of the company’s stock, valued at approximately $3,745,864.29. The trade was a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ED has been the subject of several recent research reports. Barclays boosted their price objective on Consolidated Edison from $100.00 to $110.00 and gave the stock an “underweight” rating in a report on Tuesday, February 24th. Mizuho set a $118.00 price target on shares of Consolidated Edison in a research report on Monday, February 23rd. Bank of America restated an “underperform” rating and issued a $104.00 price objective on shares of Consolidated Edison in a report on Wednesday, February 25th. JPMorgan Chase & Co. lowered their target price on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a report on Friday, December 12th. Finally, UBS Group upped their target price on shares of Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $107.73.

Consolidated Edison Trading Down 1.5%

NYSE ED opened at $110.78 on Friday. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $115.25. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 1.02. The stock’s 50 day moving average price is $106.01 and its two-hundred day moving average price is $101.41. The stock has a market capitalization of $40.02 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 3.02 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, beating analysts’ consensus estimates of $0.86 by $0.03. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.71 billion. Consolidated Edison had a net margin of 11.95% and a return on equity of 8.50%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same period last year, the company earned $0.98 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, analysts anticipate 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 paid a dividend of $0.8875 per share. The ex-dividend date is Wednesday, February 18th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.2%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.85. Consolidated Edison’s dividend payout ratio (DPR) is currently 62.83%.

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.