West Family Investments Inc. Takes $1.04 Million Position in Consolidated Edison Inc $ED

West Family Investments Inc. bought a new position in Consolidated Edison Inc (NYSE:ED) during the second quarter, Holdings Channel reports. The firm bought 9,376 shares of the utilities provider’s stock, valued at approximately $1,037,000.

Several other institutional investors also recently bought and sold shares of the stock. Sachetta LLC lifted its holdings in Consolidated Edison by 72.9% in the first quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 102 shares during the period. JPL Wealth Management LLC acquired a new stake in shares of Consolidated Edison during the 3rd quarter worth approximately $26,000. Basepoint Wealth LLC purchased a new position in shares of Consolidated Edison during the 4th quarter valued at approximately $26,000. WealthCollab LLC increased its holdings in shares of Consolidated Edison by 68.4% during the 4th quarter. WealthCollab LLC now owns 315 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 128 shares in the last quarter. Finally, Turning Point Benefit Group Inc. acquired a new position in shares of Consolidated Edison in the 3rd quarter valued at $32,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ED has been the topic of a number of recent analyst reports. Mizuho set a $114.00 price target on shares of Consolidated Edison in a report on Monday, July 27th. Argus set a $112.00 target price on shares of Consolidated Edison in a research note on Tuesday, June 23rd. Barclays dropped their target price on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a research report on Friday, August 7th. KeyCorp reduced their price target on Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating for the company in a report on Thursday, July 23rd. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and issued a $105.00 price target on shares of Consolidated Edison in a report on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $108.80.

Consolidated Edison Trading Down 1.0%

ED opened at $108.04 on Thursday. The firm has a market capitalization of $39.96 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 2.83 and a beta of 0.27. The company’s 50 day simple moving average is $109.96 and its two-hundred day simple moving average is $109.89. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.23. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.27 and a quick ratio of 1.17.

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

Consolidated Edison Announces Dividend

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

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.