Consolidated Edison Inc $ED Stock: Tectonic Advisors LLC Boosts Stake

Tectonic Advisors LLC lifted its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 6.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 120,564 shares of the utilities provider’s stock after purchasing an additional 7,250 shares during the quarter. Tectonic Advisors LLC’s holdings in Consolidated Edison were worth $12,323,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Investment Advisors LLC lifted its holdings in shares of Consolidated Edison by 2.9% in the 3rd quarter. Capital Investment Advisors LLC now owns 24,942 shares of the utilities provider’s stock worth $2,549,000 after purchasing an additional 709 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its position in Consolidated Edison by 265.6% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 15,667 shares of the utilities provider’s stock valued at $1,601,000 after purchasing an additional 11,382 shares during the period. Sterling Capital Management LLC boosted its position in Consolidated Edison by 251.7% during the 3rd quarter. Sterling Capital Management LLC now owns 40,649 shares of the utilities provider’s stock valued at $4,155,000 after purchasing an additional 29,090 shares during the period. Inspire Investing LLC boosted its position in Consolidated Edison by 8.2% during the 3rd quarter. Inspire Investing LLC now owns 19,618 shares of the utilities provider’s stock valued at $2,005,000 after purchasing an additional 1,492 shares during the period. Finally, MBL Wealth LLC bought a new position in Consolidated Edison during the 3rd quarter worth $239,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ED shares. Wells Fargo & Company increased 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. Jefferies Financial Group reiterated a “hold” rating and issued a $105.00 target price on shares of Consolidated Edison in a research note on Tuesday, October 6th. Morgan Stanley reduced their price target on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a report on Friday, September 18th. Mizuho set a $108.00 price target on shares of Consolidated Edison in a research report on Wednesday, October 7th. Finally, Evercore reaffirmed a “positive” rating and issued a $112.00 price objective on shares of Consolidated Edison in a report on Monday, August 17th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Consolidated Edison currently has an average rating of “Reduce” and an average price target of $107.50.

Consolidated Edison Stock Performance

ED stock traded down $0.44 during trading on Friday, reaching $115.82. 2,538,719 shares of the company’s stock were exchanged, compared to its average volume of 2,308,437. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.50. The company’s fifty day moving average price is $107.03 and its 200-day moving average price is $108.44. The firm has a market cap of $42.83 billion, a PE ratio of 19.02, a P/E/G ratio of 4.02 and a beta of 0.26.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data 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. The business had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $3.60 billion. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. During the same period in the previous year, the business earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, research analysts expect that Consolidated Edison Inc will post 6.10 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Wednesday, November 18th will be paid a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Wednesday, November 18th. Consolidated Edison’s dividend payout ratio (DPR) is currently 58.29%.

Consolidated Edison Profile

Consolidated Edison, Inc is a diversified energy company headquartered in New York City. Through its regulated utility subsidiaries, the company delivers electricity, natural gas and steam to residential, commercial and industrial customers.

Its principal subsidiary, Consolidated Edison Company of New York, provides electric service throughout New York City and Westchester County, along with gas service in Manhattan, the Bronx, parts of Queens and Westchester County, and steam service in parts of Manhattan.