Jupiter Topco LLC Invests $6.19 Million in Consolidated Edison Inc $ED

Jupiter Topco LLC purchased a new stake in Consolidated Edison Inc (NYSE:ED) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 55,948 shares of the utilities provider’s stock, valued at approximately $6,190,000.

Other institutional investors also recently bought and sold shares of the company. Basepoint Wealth LLC purchased a new stake in Consolidated Edison during the 4th quarter worth approximately $26,000. JPL Wealth Management LLC purchased a new position in shares of Consolidated Edison in the third quarter valued at approximately $26,000. Sachetta LLC boosted its stake in shares of Consolidated Edison by 72.9% in the first quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 102 shares during the last quarter. Aberdeen Wealth Management LLC acquired a new stake in shares of Consolidated Edison in the second quarter worth approximately $27,000. Finally, Keating Financial Advisory Services Inc. purchased a new stake in shares of Consolidated Edison during the second quarter worth approximately $30,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

NYSE ED opened at $107.22 on Tuesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.17 and a current ratio of 1.27. The stock’s fifty day moving average is $109.99 and its two-hundred day moving average is $109.89. The firm has a market capitalization of $39.65 billion, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 2.73 and a beta of 0.27. Consolidated Edison Inc has a fifty-two week low of $94.96 and a fifty-two week high of $116.23.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.60 billion. During the same period last year, the company earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, research analysts anticipate that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors 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 dividend on an annualized basis and a dividend yield of 3.3%. Consolidated Edison’s dividend payout ratio is currently 58.29%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. KeyCorp reduced their price objective on Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating for the company in a research note on Thursday, July 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Consolidated Edison in a report on Tuesday, July 21st. Evercore reiterated a “positive” rating and issued a $112.00 target price on shares of Consolidated Edison in a research report on Monday, August 17th. The Goldman Sachs Group reissued a “sell” rating and issued a $105.00 price target on shares of Consolidated Edison in a research note on Thursday, May 14th. Finally, Morgan Stanley lowered their price target on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a research report on Friday, August 21st. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $108.93.

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.