Kingdom Financial Group LLC. Purchases New Holdings in Consolidated Edison Inc $ED

Kingdom Financial Group LLC. purchased a new stake in Consolidated Edison Inc (NYSE:ED) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 6,629 shares of the utilities provider’s stock, valued at approximately $658,000.

A number of other institutional investors have also bought and sold shares of ED. Revolve Wealth Partners LLC lifted its stake in Consolidated Edison by 13.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after purchasing an additional 441 shares in the last quarter. Empowered Funds LLC lifted its stake in Consolidated Edison by 42.1% in the 1st quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock worth $993,000 after purchasing an additional 2,659 shares in the last quarter. Woodline Partners LP lifted its stake in Consolidated Edison by 40.7% in the 1st quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock worth $3,237,000 after purchasing an additional 8,468 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Consolidated Edison in the 2nd quarter worth approximately $3,256,000. Finally, Baird Financial Group Inc. lifted its stake in Consolidated Edison by 2.1% in the 2nd quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider’s stock worth $1,473,000 after purchasing an additional 296 shares in the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Deneen L. Donnley sold 1,922 shares of Consolidated Edison stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $113.94, for a total value of $218,992.68. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.15% of the company’s stock.

Consolidated Edison Stock Up 1.0%

Consolidated Edison stock opened at $107.37 on Friday. Consolidated Edison Inc has a fifty-two week low of $94.96 and a fifty-two week high of $116.23. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.19. The firm has a 50 day moving average price of $110.52 and a 200 day moving average price of $105.72. The company has a market capitalization of $39.57 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 2.70 and a beta of 0.29.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, May 7th. The utilities provider reported $2.18 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($0.10). Consolidated Edison had a net margin of 12.52% and a return on equity of 8.33%. The company had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same quarter last year, the business posted $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Research analysts expect that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Wednesday, May 13th will be issued a $0.8875 dividend. This represents a $3.55 annualized dividend and a yield of 3.3%. The ex-dividend date is Wednesday, May 13th. Consolidated Edison’s dividend payout ratio (DPR) is 59.76%.

Analysts Set New Price Targets

ED has been the topic of a number of research reports. The Goldman Sachs Group reissued a “sell” rating and issued a $105.00 target price on shares of Consolidated Edison in a research note on Thursday, May 14th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $118.00 target price on shares of Consolidated Edison in a research note on Friday, January 23rd. Bank of America reissued an “underperform” rating and issued a $104.00 target price on shares of Consolidated Edison in a research note on Wednesday, February 25th. UBS Group raised their target price on shares of Consolidated Edison from $108.00 to $112.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. Finally, Citigroup reissued a “buy” rating on shares of Consolidated Edison in a research note on Monday, February 23rd. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, Consolidated Edison has a consensus rating of “Reduce” and a consensus price target of $108.71.

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.