COFG Advisors LLC Purchases New Holdings in Consolidated Edison Inc $ED

COFG Advisors LLC purchased a new stake in Consolidated Edison Inc (NYSE:ED) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 5,520 shares of the utilities provider’s stock, valued at approximately $548,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPL Wealth Management LLC purchased a new position in Consolidated Edison in the 3rd quarter valued at about $26,000. Basepoint Wealth LLC purchased a new position in Consolidated Edison in the 4th quarter valued at about $26,000. Aventura Private Wealth LLC purchased a new position in Consolidated Edison in the 4th quarter valued at about $27,000. Westfuller Advisors LLC purchased a new position in Consolidated Edison in the 4th quarter valued at about $27,000. Finally, Dorato Capital Management purchased a new position in Consolidated Edison in the 4th quarter valued at about $28,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Bank of America reissued an “underperform” rating and issued a $104.00 target price on shares of Consolidated Edison in a research note on Wednesday, February 25th. Morgan Stanley set a $99.00 target price on shares of Consolidated Edison in a research note on Thursday, May 21st. Scotiabank raised their target price on shares of Consolidated Edison from $113.00 to $117.00 and gave the stock a “sector perform” rating in a research note on Friday, February 20th. Barclays decreased their target price on shares of Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating on the stock in a research note on Monday, May 11th. Finally, Mizuho set a $118.00 target price on shares of Consolidated Edison in a research note on Monday, February 23rd. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $108.71.

Insiders Place Their Bets

In other news, SVP Deneen L. Donnley sold 1,922 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $113.94, for a total value of $218,992.68. Following the completion of the sale, the senior vice president directly owned 32,453 shares of the company’s stock, valued at approximately $3,697,694.82. This represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.15% of the stock is currently owned by company insiders.

Consolidated Edison Stock Performance

NYSE:ED opened at $103.69 on Tuesday. The company has a fifty day simple moving average of $109.61 and a two-hundred day simple moving average of $106.18. The company has a market cap of $38.21 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 2.68 and a beta of 0.27. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $116.23.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, May 7th. The utilities provider reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.10). The firm had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Consolidated Edison had a return on equity of 8.33% and a net margin of 12.52%.During the same period last year, the firm posted $2.26 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 6.09 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Wednesday, May 13th will be given a $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $3.55 dividend on an annualized basis and a yield of 3.4%. Consolidated Edison’s payout ratio is 59.76%.

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.