Merit Financial Group LLC Has $1.99 Million Stake in Consolidated Edison Inc $ED

Merit Financial Group LLC grew its holdings in Consolidated Edison Inc (NYSE:ED) by 37.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,026 shares of the utilities provider’s stock after purchasing an additional 5,419 shares during the period. Merit Financial Group LLC’s holdings in Consolidated Edison were worth $1,989,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. JPL Wealth Management LLC acquired a new position in shares of Consolidated Edison in the 3rd quarter valued at about $26,000. Aventura Private Wealth LLC acquired a new position in shares of Consolidated Edison in the 4th quarter valued at about $27,000. Westfuller Advisors LLC acquired a new position in shares of Consolidated Edison in the 4th quarter valued at about $27,000. Dorato Capital Management acquired a new position in shares of Consolidated Edison in the 4th quarter valued at about $28,000. Finally, Salomon & Ludwin LLC increased its holdings in shares of Consolidated Edison by 270.4% in the 3rd quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 219 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Insider Transactions at Consolidated Edison

In related news, SVP Deneen L. Donnley sold 1,922 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $113.94, for a total transaction of $218,992.68. Following the transaction, the senior vice president owned 32,453 shares of the company’s stock, valued at approximately $3,697,694.82. The trade was a 5.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

ED has been the topic of a number of research reports. Citigroup restated a “buy” rating on shares of Consolidated Edison in a report on Monday, February 23rd. KeyCorp increased their price objective on Consolidated Edison from $96.00 to $97.00 and gave the stock an “underweight” rating in a report on Tuesday. Wells Fargo & Company set a $98.00 price objective on Consolidated Edison in a report on Tuesday. TD Cowen increased their price objective on Consolidated Edison from $105.00 to $112.00 and gave the stock a “hold” rating in a report on Tuesday, February 24th. Finally, Scotiabank increased their price objective on Consolidated Edison from $113.00 to $117.00 and gave the stock a “sector perform” rating in a report on Friday, February 20th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $108.50.

Consolidated Edison Stock Down 1.3%

Shares of Consolidated Edison stock opened at $108.24 on Wednesday. The stock has a market capitalization of $39.88 billion, a P/E ratio of 19.16, a PEG ratio of 2.79 and a beta of 0.34. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 1.06. The stock has a 50 day moving average price of $112.15 and a two-hundred day moving average price of $104.68. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $116.23.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.03. The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.71 billion. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.The company’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities analysts expect that Consolidated Edison Inc will post 6.07 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th will be paid a $0.8875 dividend. The ex-dividend date is Wednesday, May 13th. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.83%.

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.