Clear Harbor Asset Management LLC Takes $839,000 Position in Consolidated Edison Inc $ED

Clear Harbor Asset Management LLC purchased a new stake in shares of Consolidated Edison Inc (NYSE:ED) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 7,580 shares of the utilities provider’s stock, valued at approximately $839,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sachetta LLC grew its position in Consolidated Edison by 72.9% during the first quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock valued at $27,000 after buying an additional 102 shares during the period. JPL Wealth Management LLC bought a new stake in Consolidated Edison in the third quarter worth about $26,000. Basepoint Wealth LLC bought a new stake in Consolidated Edison in the fourth quarter worth about $26,000. Keating Financial Advisory Services Inc. purchased a new position in Consolidated Edison in the second quarter valued at about $30,000. Finally, Turning Point Benefit Group Inc. bought a new position in shares of Consolidated Edison during the 3rd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Morgan Stanley decreased their price target on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a research note on Friday. Evercore reissued a “positive” rating and set a $112.00 price objective on shares of Consolidated Edison in a report on Monday, August 17th. Wells Fargo & Company raised their target price on Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Barclays dropped their price target 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. Finally, Mizuho set a $114.00 price target on Consolidated Edison in a research note on Monday, July 27th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $108.93.

Consolidated Edison Price Performance

ED stock opened at $106.52 on Monday. The firm has a 50 day moving average of $109.96 and a 200-day moving average of $109.91. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $116.23. The firm has a market capitalization of $39.39 billion, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 2.76 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.60 billion. During the same quarter in the previous year, the company earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, sell-side analysts predict that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Wednesday, August 19th will be issued a $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. Consolidated Edison’s dividend payout ratio is presently 58.29%.

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.