Kingsview Wealth Management LLC Buys Shares of 5,048 Consolidated Edison Inc $ED

Kingsview Wealth Management LLC purchased a new stake in Consolidated Edison Inc (NYSE:ED) during the second quarter, according to its most recent filing with the SEC. The firm purchased 5,048 shares of the utilities provider’s stock, valued at approximately $558,000.

Several other large investors have also recently bought and sold shares of ED. BlackRock Inc. acquired a new stake in Consolidated Edison during the 2nd quarter worth $4,609,491,000. State Street Corp grew its stake in shares of Consolidated Edison by 3.6% during the 4th quarter. State Street Corp now owns 24,905,440 shares of the utilities provider’s stock worth $2,473,608,000 after acquiring an additional 854,868 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of Consolidated Edison by 14.8% in the first quarter. Lazard Asset Management LLC now owns 7,075,838 shares of the utilities provider’s stock valued at $800,843,000 after purchasing an additional 910,244 shares during the last quarter. Deutsche Bank AG acquired a new position in Consolidated Edison during the second quarter worth $749,184,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Consolidated Edison by 11.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,200,840 shares of the utilities provider’s stock worth $516,549,000 after purchasing an additional 514,178 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Down 0.1%

Shares of Consolidated Edison stock opened at $107.40 on Monday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.27 and a quick ratio of 1.17. The business has a fifty day simple moving average of $109.99 and a two-hundred day simple moving average of $109.90. Consolidated Edison Inc has a 1 year low of $94.96 and a 1 year high of $116.23. The company has a market capitalization of $39.72 billion, a price-to-earnings ratio of 17.64, a P/E/G ratio of 2.73 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.07. The firm had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $3.60 billion. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. During the same period in the prior year, the firm earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Research analysts forecast that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, August 19th. Consolidated Edison’s dividend payout ratio is presently 58.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ED shares. KeyCorp reduced their price objective on shares of Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating for the company in a research note on Thursday, July 23rd. Wells Fargo & Company upped their target price on Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Evercore reissued a “positive” rating and set a $112.00 price target on shares of Consolidated Edison in a research report on Monday, August 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Consolidated Edison in a report on Tuesday, July 21st. Finally, The Goldman Sachs Group reissued a “sell” rating and issued a $105.00 target price on shares of Consolidated Edison in a research note on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $108.93.

Consolidated Edison Company 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.