Cresset Asset Management LLC Has $8.01 Million Position in Consolidated Edison Inc $ED

Cresset Asset Management LLC increased its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 7.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 79,682 shares of the utilities provider’s stock after purchasing an additional 5,403 shares during the period. Cresset Asset Management LLC’s holdings in Consolidated Edison were worth $8,010,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ED. Salomon & Ludwin LLC increased its position in Consolidated Edison by 270.4% in the 3rd quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock worth $30,000 after buying an additional 219 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Consolidated Edison in the third quarter worth $38,000. JFS Wealth Advisors LLC increased its position in Consolidated Edison by 36.4% during the third quarter. JFS Wealth Advisors LLC now owns 412 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 110 shares during the period. True Wealth Design LLC raised its stake in Consolidated Edison by 392.1% during 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 during the last quarter. Finally, Webster Bank N. A. boosted its holdings in 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 purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Insider Activity

In other news, Director John F. Killian sold 2,276 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total value of $220,521.64. Following the transaction, the director directly owned 38,661 shares of the company’s stock, valued at $3,745,864.29. The trade was a 5.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on ED. JPMorgan Chase & Co. cut their price objective on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a research report on Friday, December 12th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Consolidated Edison in a report on Monday, December 29th. Mizuho set a $118.00 price objective on Consolidated Edison in a research report on Monday, February 23rd. Barclays boosted their price objective on Consolidated Edison from $100.00 to $110.00 and gave the company an “underweight” rating in a research report on Tuesday, February 24th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $118.00 target price on shares of Consolidated Edison in a research report on Friday, January 23rd. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, Consolidated Edison presently has an average rating of “Reduce” and an average price target of $107.73.

Consolidated Edison Price Performance

Shares of ED stock opened at $110.78 on Friday. The stock’s fifty day simple moving average is $106.01 and its 200 day simple moving average is $101.41. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $115.25. The firm has a market cap of $40.02 billion, a price-to-earnings ratio of 19.61, a P/E/G ratio of 3.02 and a beta of 0.38. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.02 and a quick ratio of 0.94.

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

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Wednesday, February 18th will be issued a dividend of $0.8875 per share. The ex-dividend date of this dividend is Wednesday, February 18th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.85. This represents a $3.55 annualized dividend and a dividend yield of 3.2%. Consolidated Edison’s dividend payout ratio (DPR) 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.