8,044 Shares in Consolidated Edison Inc $ED Purchased by United Financial Planning Group LLC

United Financial Planning Group LLC purchased 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 SEC. The institutional investor purchased 8,044 shares of the utilities provider’s stock, valued at approximately $809,000. Consolidated Edison accounts for approximately 0.4% of United Financial Planning Group LLC’s holdings, making the stock its 21st largest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Consolidated Edison by 0.3% in the third quarter. Vanguard Group Inc. now owns 45,174,933 shares of the utilities provider’s stock valued at $4,540,984,000 after acquiring an additional 134,122 shares during the last quarter. Geode Capital Management LLC increased its stake in Consolidated Edison by 6.1% during the second quarter. Geode Capital Management LLC now owns 9,796,782 shares of the utilities provider’s stock worth $979,204,000 after acquiring an additional 566,358 shares during the last quarter. Norges Bank acquired a new position in shares of Consolidated Edison in the 2nd quarter valued at $462,218,000. Legal & General Group Plc grew its holdings in shares of Consolidated Edison by 1.2% during the 3rd quarter. Legal & General Group Plc now owns 4,351,530 shares of the utilities provider’s stock worth $437,416,000 after purchasing an additional 52,061 shares during the period. Finally, Invesco Ltd. increased its position in shares of Consolidated Edison by 5.3% during the 3rd quarter. Invesco Ltd. now owns 3,583,423 shares of the utilities provider’s stock worth $360,206,000 after purchasing an additional 179,278 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Insider Activity

In other news, SVP Deneen L. Donnley sold 1,922 shares of Consolidated Edison stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $113.94, for a total value of $218,992.68. Following the completion of the transaction, the senior vice president owned 32,453 shares in the company, valued at approximately $3,697,694.82. This trade represents a 5.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.19% of the company’s stock.

Consolidated Edison Price Performance

Shares of ED opened at $114.85 on Friday. The company has a market cap of $41.49 billion, a P/E ratio of 20.33, a PEG ratio of 3.04 and a beta of 0.38. Consolidated Edison Inc has a fifty-two week low of $94.96 and a fifty-two week high of $115.37. 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 firm’s 50 day moving average price is $107.57 and its 200 day moving average price is $101.90.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, February 19th. The utilities provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.86 by $0.03. Consolidated Edison had a net margin of 11.95% and a return on equity of 8.50%. The company had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter last year, the company posted $0.98 EPS. The firm’s revenue was up 8.9% compared to the same quarter last year. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, research analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Wednesday, February 18th will be given a $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $3.55 dividend on an annualized basis and a yield of 3.1%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.85. Consolidated Edison’s dividend payout ratio is 62.83%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. TD Cowen increased their target price on shares of Consolidated Edison from $105.00 to $112.00 and gave the stock a “hold” rating in a research note on Tuesday, February 24th. Citigroup reaffirmed a “buy” rating on shares of Consolidated Edison in a research report on Monday, February 23rd. Scotiabank boosted their target price on Consolidated Edison from $113.00 to $117.00 and gave the company a “sector perform” rating in a research report on Friday, February 20th. KeyCorp upped their price target on Consolidated Edison from $86.00 to $96.00 and gave the stock an “underweight” rating in a research note on Wednesday, March 4th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a research report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $108.80.

About Consolidated Edison

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.