Consolidated Edison Inc $ED Stock Position Increased by Modera Wealth Management LLC

Modera Wealth Management LLC boosted its position in Consolidated Edison Inc (NYSE:ED) by 200.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 10,133 shares of the utilities provider’s stock after purchasing an additional 6,758 shares during the period. Modera Wealth Management LLC’s holdings in Consolidated Edison were worth $1,036,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ED. International Assets Investment Management LLC boosted its position in shares of Consolidated Edison by 3,407.6% in the third quarter. International Assets Investment Management LLC now owns 297,517 shares of the utilities provider’s stock worth $30,409,000 after acquiring an additional 289,035 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in Consolidated Edison by 5.1% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 508,052 shares of the utilities provider’s stock worth $51,928,000 after buying an additional 24,500 shares during the period. Soltis Investment Advisors LLC lifted its stake in shares of Consolidated Edison by 133.7% in the third quarter. Soltis Investment Advisors LLC now owns 8,525 shares of the utilities provider’s stock worth $871,000 after acquiring an additional 4,877 shares in the last quarter. Choreo LLC boosted its stake in shares of Consolidated Edison by 2.2% during the 3rd quarter. Choreo LLC now owns 15,161 shares of the utilities provider’s stock valued at $1,550,000 after buying an additional 325 shares during the last quarter. Finally, Interchange Capital Partners LLC boosted its stake in Consolidated Edison by 12.6% during the 3rd quarter. Interchange Capital Partners LLC now owns 2,608 shares of the utilities provider’s stock valued at $267,000 after acquiring an additional 291 shares during the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ED shares. Jefferies Financial Group reiterated a “hold” rating and issued a $105.00 price target (down from $121.00) on shares of Consolidated Edison in a report on Tuesday, October 6th. HSBC began coverage on shares of Consolidated Edison in a report on Thursday, October 22nd. They issued a “hold” rating and a $104.00 target price on the stock. Evercore decreased their price objective on shares of Consolidated Edison from $116.00 to $112.00 in a research note on Thursday, October 8th. Morgan Stanley reduced their price objective on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a research report on Friday, September 18th. Finally, KeyCorp lowered their price objective on Consolidated Edison from $94.00 to $87.00 and set an “underweight” rating on the stock in a report on Tuesday, October 13th. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $108.09.

Consolidated Edison Price Performance

Consolidated Edison stock opened at $118.61 on Tuesday. The business’s fifty day moving average is $107.97 and its two-hundred day moving average is $109.02. The firm has a market cap of $43.86 billion, a P/E ratio of 19.72, a P/E/G ratio of 3.95 and a beta of 0.26. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $118.79. 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 (NYSE:ED) last announced its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 earnings per share 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 business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same period in the prior year, the business posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities research analysts forecast that Consolidated Edison Inc will post 6.10 earnings per share 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 given a $0.8875 dividend. This represents a $3.55 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, November 18th. Consolidated Edison’s payout ratio is currently 58.29%.

About Consolidated Edison

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.