23,127 Shares in Consolidated Edison Inc $ED Acquired by Harrison Street Private Wealth LLC

Harrison Street Private Wealth LLC purchased a new position in shares of Consolidated Edison Inc (NYSE:ED) during the 1st quarter, HoldingsChannel reports. The firm purchased 23,127 shares of the utilities provider’s stock, valued at approximately $2,618,000. Consolidated Edison accounts for 3.5% of Harrison Street Private Wealth LLC’s portfolio, making the stock its 18th largest holding.

Other hedge funds also recently bought and sold shares of the company. GW&K Investment Management LLC lifted its stake in Consolidated Edison by 28.5% in the fourth quarter. GW&K Investment Management LLC now owns 419 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 93 shares during the last quarter. Meadowbrook Wealth Management LLC boosted its holdings in Consolidated Edison by 2.2% in the fourth quarter. Meadowbrook Wealth Management LLC now owns 4,687 shares of the utilities provider’s stock valued at $466,000 after purchasing an additional 100 shares in the last quarter. bLong Financial LLC boosted its holdings in Consolidated Edison by 1.3% in the fourth quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider’s stock valued at $772,000 after purchasing an additional 100 shares in the last quarter. Bridgewater Advisors Inc. increased its stake in Consolidated Edison by 1.6% in the fourth quarter. Bridgewater Advisors Inc. now owns 6,635 shares of the utilities provider’s stock valued at $689,000 after purchasing an additional 105 shares during the last quarter. Finally, Venture Visionary Partners LLC increased its stake in Consolidated Edison by 2.0% in the fourth quarter. Venture Visionary Partners LLC now owns 5,606 shares of the utilities provider’s stock valued at $557,000 after purchasing an additional 108 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

ED has been the subject of several research reports. Morgan Stanley reissued an “underweight” rating on shares of Consolidated Edison in a report on Wednesday, June 24th. Wells Fargo & Company set a $98.00 price target on Consolidated Edison in a research report on Tuesday, April 21st. KeyCorp boosted their price objective on Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a research note on Tuesday, April 21st. Weiss Ratings raised Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Finally, Barclays lowered their target price on shares of Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating on the stock in a research report on Monday, May 11th. 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 company’s stock. Based on data from MarketBeat.com, Consolidated Edison presently has an average rating of “Reduce” and an average price target of $108.07.

Key Consolidated Edison News

Here are the key news stories impacting Consolidated Edison this week:

• Positive Sentiment: Con Edison is being seen as a defensive utility beneficiary during the heat wave, with elevated electricity usage likely supporting near-term demand for its services. Con Edison Calls for Power-Saving, Reduces Voltage by 8% in Some Areas — Update
• Positive Sentiment: The company elected Tali Farhadian to its Board of Directors, adding legal and regulatory expertise that could help with governance and utility oversight. Con Edison Elects New Board Member
• Neutral Sentiment: Con Edison asked customers in parts of NYC, Westchester and the Bronx to conserve energy and reduced voltage in some areas to prevent grid strain during peak demand. As heat wave rages, Con Ed urges nearly 90,000 people in NYC, Westchester to limit power use
• Neutral Sentiment: Reports of outages in Staten Island and the Bronx point to operational stress from the heat, but the disruptions appear localized rather than a broad system failure. Thousands without power as Con Edison outages hit Staten Island
• Negative Sentiment: Localized outages and emergency voltage reductions could raise investor concern about grid reliability and possible costs tied to storm/heat-related service issues. Con Edison shuts off power to parts of Bronx neighborhood on hottest day of the year

Consolidated Edison Price Performance

Shares of NYSE ED opened at $113.96 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.19. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23. The firm has a market capitalization of $42.00 billion, a P/E ratio of 19.18, a PEG ratio of 2.82 and a beta of 0.27. The company’s fifty day moving average is $107.77 and its two-hundred day moving average is $107.67.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Wednesday, May 13th were issued a dividend of $0.8875 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $3.55 dividend on an annualized basis and a yield of 3.1%. Consolidated Edison’s payout ratio is currently 59.76%.

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.