Commerce Bank Takes Position in Consolidated Edison Inc $ED

Commerce Bank bought a new position in shares of Consolidated Edison Inc (NYSE:ED) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 41,811 shares of the utilities provider’s stock, valued at approximately $4,626,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Basepoint Wealth LLC purchased a new stake in shares of Consolidated Edison in the fourth quarter worth approximately $26,000. JPL Wealth Management LLC purchased a new stake in Consolidated Edison in the 3rd quarter valued at $26,000. Sachetta LLC lifted its stake in Consolidated Edison by 72.9% during the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 102 shares in the last quarter. Keating Financial Advisory Services Inc. bought a new position in Consolidated Edison during the 2nd quarter valued at $30,000. Finally, Godfrey Financial Associates Inc. purchased a new position in Consolidated Edison during the 4th quarter worth $32,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Performance

NYSE ED opened at $106.52 on Monday. The company has a market capitalization of $39.39 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 2.76 and a beta of 0.27. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.17 and a current ratio of 1.27. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $116.23. The company has a 50-day simple moving average of $109.96 and a 200 day simple moving average of $109.91.

Consolidated Edison (NYSE:ED) last released its 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 firm had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.60 billion. During the same period in the prior year, the firm earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, research analysts predict that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Wednesday, August 19th will be given a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 19th. Consolidated Edison’s dividend payout ratio (DPR) is currently 58.29%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Argus set a $112.00 target price on shares of Consolidated Edison in a research note on Tuesday, June 23rd. Evercore reiterated a “positive” rating and issued a $112.00 price objective on shares of Consolidated Edison in a research note on Monday, August 17th. Barclays cut their target price on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a research note on Friday, August 7th. KeyCorp decreased their price target on Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating for the company in a research report on Thursday, July 23rd. Finally, Morgan Stanley cut their price objective on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a research report on Friday. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $108.93.

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.