Lipe & Dalton Buys New Stake in Consolidated Edison Inc $ED

Lipe & Dalton purchased a new position in shares of Consolidated Edison Inc (NYSE:ED) in the second quarter, Holdings Channel.com reports. The firm purchased 6,303 shares of the utilities provider’s stock, valued at approximately $697,000.

A number of other hedge funds have also made changes to their positions in ED. Aberdeen Wealth Management LLC purchased a new stake in Consolidated Edison during the second quarter worth approximately $27,000. Sachetta LLC raised its holdings in Consolidated Edison by 72.9% during the first quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 102 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in shares of Consolidated Edison during the 3rd quarter worth approximately $26,000. Basepoint Wealth LLC purchased a new stake in shares of Consolidated Edison during the 4th quarter worth approximately $26,000. Finally, Keating Financial Advisory Services Inc. acquired a new position in shares of Consolidated Edison in the 2nd quarter valued at $30,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on ED. Argus set a $112.00 price target on shares of Consolidated Edison in a research note on Tuesday, June 23rd. Barclays reduced their target price on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a report on Friday, August 7th. Morgan Stanley dropped their price target on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a research note on Friday, August 21st. Wells Fargo & Company boosted their price objective on Consolidated Edison from $106.00 to $108.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Finally, Evercore restated a “positive” rating and set a $112.00 target price on shares of Consolidated Edison in a research report on Monday, August 17th. Three 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’s stock. Based on data from MarketBeat, Consolidated Edison currently has a consensus rating of “Reduce” and an average price target of $108.93.

Consolidated Edison Stock Performance

Shares of NYSE:ED traded up $1.16 during trading on Tuesday, reaching $108.45. The company had a trading volume of 2,168,884 shares, compared to its average volume of 2,247,093. 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 1.04, a current ratio of 1.27 and a quick ratio of 1.17. The stock’s fifty day moving average price is $109.63 and its 200 day moving average price is $109.71. The firm has a market capitalization of $40.11 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 3.71 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. The company had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $3.60 billion. During the same period in the previous year, the company posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, equities research analysts predict that Consolidated Edison Inc will post 6.1 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Wednesday, August 19th will be issued 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 payout ratio is currently 58.29%.

Consolidated Edison Company 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.