Rubicon Advisors GP Makes New $573,000 Investment in Consolidated Edison Inc $ED

Rubicon Advisors GP purchased a new stake in shares of Consolidated Edison Inc (NYSE:ED) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 5,766 shares of the utilities provider’s stock, valued at approximately $573,000.

A number of other hedge funds have also modified their holdings of the company. Basepoint Wealth LLC purchased a new stake in Consolidated Edison in the fourth quarter valued at approximately $26,000. JPL Wealth Management LLC acquired a new position in Consolidated Edison in the 3rd quarter worth approximately $26,000. Aventura Private Wealth LLC purchased a new position in Consolidated Edison during the 4th quarter worth approximately $27,000. Westfuller Advisors LLC purchased a new position in Consolidated Edison during the 4th quarter worth approximately $27,000. Finally, Dorato Capital Management acquired a new stake in Consolidated Edison during the 4th quarter valued at approximately $28,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on ED. KeyCorp upped their price objective on shares of Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a report on Tuesday, April 21st. Citigroup reissued a “buy” rating on shares of Consolidated Edison in a report on Monday, February 23rd. JPMorgan Chase & Co. boosted their target price on shares of Consolidated Edison from $107.00 to $113.00 and gave the company an “underweight” rating in a research report on Thursday, March 12th. Evercore set a $116.00 price target on shares of Consolidated Edison in a report on Monday, May 11th. Finally, Scotiabank upped their price target on shares of Consolidated Edison from $113.00 to $117.00 and gave the company a “sector perform” rating in a report on Friday, February 20th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, Consolidated Edison currently has a consensus rating of “Reduce” and an average price target of $107.79.

Consolidated Edison Stock Up 0.0%

Shares of ED stock opened at $106.36 on Friday. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23. The stock has a market cap of $39.20 billion, a P/E ratio of 17.91, a P/E/G ratio of 2.70 and a beta of 0.27. The stock has a 50 day moving average of $107.84 and a 200 day moving average of $106.68. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, May 7th. The utilities provider reported $2.18 EPS for the quarter, missing the consensus estimate of $2.28 by ($0.10). The company had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Consolidated Edison had a return on equity of 8.33% and a net margin of 12.52%.During the same quarter in the prior year, the company posted $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, sell-side analysts expect that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently declared 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 3.3%. Consolidated Edison’s dividend payout ratio is 59.76%.

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.