Consolidated Edison Inc $ED Shares Newly Acquired by Summit Wealth Group LLC Co.

Summit Wealth Group LLC Co. bought a new stake in Consolidated Edison Inc (NYSE:ED) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 11,248 shares of the utilities provider’s stock, valued at approximately $1,150,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nykredit A S acquired a new position in Consolidated Edison in the 2nd quarter valued at $23,566,000. SteelPeak Wealth LLC purchased a new position in shares of Consolidated Edison during the 1st quarter worth $3,751,000. SWS Partners acquired a new stake in shares of Consolidated Edison during the second quarter worth $3,060,000. Tidal Investments LLC boosted its holdings in shares of Consolidated Edison by 75.5% during the second quarter. Tidal Investments LLC now owns 35,439 shares of the utilities provider’s stock worth $3,921,000 after purchasing an additional 15,243 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Consolidated Edison during the second quarter worth $53,495,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ED shares. Barclays lowered their price objective on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a research report on Friday, August 7th. Scotiabank reduced their target price on Consolidated Edison from $117.00 to $110.00 and set a “sector perform” rating on the stock in a research report on Wednesday, September 30th. HSBC assumed coverage on Consolidated Edison in a research note on Thursday, October 22nd. They issued a “hold” rating and a $104.00 price target on the stock. Bank of America lowered their price target on Consolidated Edison from $105.00 to $96.00 in a report on Friday, October 2nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Consolidated Edison in a report on Monday, October 19th. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $108.09.

Consolidated Edison Stock Performance

NYSE:ED opened at $116.76 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 1.04. The company has a market cap of $43.18 billion, a P/E ratio of 19.17, a P/E/G ratio of 4.10 and a beta of 0.23. Consolidated Edison Inc has a fifty-two week low of $94.96 and a fifty-two week high of $118.79. The firm’s 50 day moving average is $108.15 and its two-hundred day moving average is $109.10.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same quarter last year, the business earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Analysts expect that Consolidated Edison Inc will post 6.10 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Wednesday, November 18th will be given a $0.8875 dividend. This represents a $3.55 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, November 18th. Consolidated Edison’s dividend payout ratio (DPR) is 58.29%.

Consolidated Edison Company Profile

Consolidated Edison, Inc is a diversified energy company headquartered in New York City. Through its regulated utility subsidiaries, the company delivers electricity, natural gas and steam to residential, commercial and industrial customers.

Its principal subsidiary, Consolidated Edison Company of New York, provides electric service throughout New York City and Westchester County, along with gas service in Manhattan, the Bronx, parts of Queens and Westchester County, and steam service in parts of Manhattan.