AlphaCore Capital LLC Purchases 4,709 Shares of Consolidated Edison Inc $ED

AlphaCore Capital LLC raised its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 143.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 7,989 shares of the utilities provider’s stock after buying an additional 4,709 shares during the period. AlphaCore Capital LLC’s holdings in Consolidated Edison were worth $803,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ED. Salomon & Ludwin LLC boosted its holdings in Consolidated Edison by 270.4% during the third quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 219 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Consolidated Edison during the 3rd quarter worth about $38,000. JFS Wealth Advisors LLC grew its holdings in shares of Consolidated Edison by 36.4% in the 3rd quarter. JFS Wealth Advisors LLC now owns 412 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 110 shares in the last quarter. Webster Bank N. A. grew its holdings in shares of Consolidated Edison by 67.8% in the 3rd quarter. Webster Bank N. A. now owns 495 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 200 shares in the last quarter. Finally, True Wealth Design LLC increased its position in shares of Consolidated Edison by 392.1% in the third quarter. True Wealth Design LLC now owns 497 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 396 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. decreased their price target on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a research note on Friday, December 12th. Scotiabank increased their price objective on Consolidated Edison from $113.00 to $117.00 and gave the company a “sector perform” rating in a report on Friday, February 20th. Wells Fargo & Company lowered their target price on shares of Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 20th. Morgan Stanley reaffirmed an “underweight” rating and set a $102.00 price target on shares of Consolidated Edison in a research report on Friday, February 20th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Consolidated Edison in a research report on Monday, December 29th. 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $107.07.

Insiders Place Their Bets

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $96.89, for a total transaction of $220,521.64. Following the completion of the transaction, the director owned 38,661 shares of the company’s stock, valued at approximately $3,745,864.29. The trade was a 5.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by company insiders.

Consolidated Edison Stock Performance

NYSE:ED opened at $112.49 on Friday. The company has a market cap of $40.64 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 2.96 and a beta of 0.38. Consolidated Edison Inc has a fifty-two week low of $94.96 and a fifty-two week high of $115.25. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 1.02. The stock has a fifty day moving average price of $104.99 and a 200-day moving average price of $101.16.

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

Consolidated Edison Increases Dividend

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

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.