Consolidated Edison Inc $ED Shares Purchased by Bleakley Financial Group LLC

Bleakley Financial Group LLC boosted its stake in Consolidated Edison Inc (NYSE:ED) by 44.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 21,126 shares of the utilities provider’s stock after buying an additional 6,527 shares during the quarter. Bleakley Financial Group LLC’s holdings in Consolidated Edison were worth $2,124,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Salomon & Ludwin LLC lifted its position in shares of Consolidated Edison by 270.4% in the third quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 219 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Consolidated Edison in the 3rd quarter valued at $38,000. True Wealth Design LLC lifted its holdings in Consolidated Edison by 392.1% in the 3rd quarter. True Wealth Design LLC now owns 497 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 396 shares in the last quarter. Webster Bank N. A. boosted its stake in Consolidated Edison by 67.8% during the 3rd quarter. Webster Bank N. A. now owns 495 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 200 shares during the last quarter. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Consolidated Edison during the second quarter worth $52,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Consolidated Edison

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total transaction of $220,521.64. Following the transaction, the director directly owned 38,661 shares in the company, valued at $3,745,864.29. This represents a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on ED. Weiss Ratings reissued a “buy (b-)” rating on shares of Consolidated Edison in a research note on Monday, December 29th. TD Cowen began coverage on shares of Consolidated Edison in a research note on Friday, January 9th. They issued a “hold” rating and a $105.00 target price on the stock. Morgan Stanley restated an “underweight” rating and issued a $102.00 price target on shares of Consolidated Edison in a research report on Friday. Wells Fargo & Company reduced their price objective on Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 20th. Finally, Scotiabank boosted their price objective on Consolidated Edison from $113.00 to $117.00 and gave the stock a “sector perform” rating in a research note on Friday. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $105.73.

Consolidated Edison Stock Performance

NYSE ED opened at $112.01 on Tuesday. The stock has a fifty day simple moving average of $104.03 and a 200-day simple moving average of $100.91. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. The stock has a market cap of $40.46 billion, a PE ratio of 19.83, a P/E/G ratio of 2.98 and a beta of 0.38. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $115.25.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, February 19th. The utilities provider reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.03. Consolidated Edison had a net margin of 11.95% and a return on equity of 8.50%. The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter in the prior year, the company posted $0.98 earnings per share. Consolidated Edison’s revenue for the quarter was up 8.9% compared to the same quarter last year. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Wednesday, February 18th will be issued a $0.8875 dividend. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.85. The ex-dividend date is Wednesday, February 18th. This represents a $3.55 annualized dividend and a yield of 3.2%. Consolidated Edison’s payout ratio is 62.83%.

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.