Corient Private Wealth LLC Increases Position in Consolidated Edison Inc $ED

Corient Private Wealth LLC grew its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 4.3% in the 4th quarter, HoldingsChannel reports. The firm owned 138,879 shares of the utilities provider’s stock after acquiring an additional 5,692 shares during the quarter. Corient Private Wealth LLC’s holdings in Consolidated Edison were worth $13,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. GW&K Investment Management LLC grew its stake in shares of Consolidated Edison by 28.5% during the 4th quarter. GW&K Investment Management LLC now owns 419 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 93 shares during the period. Meadowbrook Wealth Management LLC increased its holdings in Consolidated Edison by 2.2% during the 4th quarter. Meadowbrook Wealth Management LLC now owns 4,687 shares of the utilities provider’s stock worth $466,000 after acquiring an additional 100 shares during the period. bLong Financial LLC increased its holdings in shares of Consolidated Edison by 1.3% in the fourth quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider’s stock worth $772,000 after purchasing an additional 100 shares during the period. Bridgewater Advisors Inc. raised its holdings in shares of Consolidated Edison by 1.6% in the 4th quarter. Bridgewater Advisors Inc. now owns 6,635 shares of the utilities provider’s stock valued at $689,000 after acquiring an additional 105 shares in the last quarter. Finally, Venture Visionary Partners LLC lifted its position in Consolidated Edison by 2.0% during the fourth quarter. Venture Visionary Partners LLC now owns 5,606 shares of the utilities provider’s stock valued at $557,000 after purchasing an additional 108 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Mizuho reiterated a “neutral” rating and issued a $105.00 price objective on shares of Consolidated Edison in a report on Tuesday, June 2nd. Bank of America restated an “underperform” rating and set a $104.00 price target on shares of Consolidated Edison in a report on Wednesday, February 25th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $105.00 price target on shares of Consolidated Edison in a research note on Thursday, May 14th. TD Cowen raised their price objective on shares of Consolidated Edison from $105.00 to $112.00 and gave the stock a “hold” rating in a report on Tuesday, February 24th. Finally, JPMorgan Chase & Co. raised their target price on Consolidated Edison from $107.00 to $113.00 and gave the company an “underweight” rating in a research note on Thursday, March 12th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $108.07.

Consolidated Edison Trading Up 1.8%

NYSE:ED opened at $108.82 on Wednesday. The firm has a market capitalization of $40.10 billion, a P/E ratio of 18.32, a PEG ratio of 2.71 and a beta of 0.27. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.19 and a quick ratio of 1.09. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23. The company’s 50-day simple moving average is $107.58 and its 200 day simple moving average is $106.90.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, May 7th. The utilities provider reported $2.18 earnings per share for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.10). Consolidated Edison had a net margin of 12.52% and a return on equity of 8.33%. The business had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the prior year, the business posted $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, analysts forecast that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th were paid a dividend of $0.8875 per share. The ex-dividend date was Wednesday, May 13th. This represents a $3.55 dividend on an annualized basis and a yield of 3.3%. Consolidated Edison’s payout ratio is presently 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.