Strive Asset Management LLC Buys New Holdings in Consolidated Edison Inc $ED

Strive Asset Management LLC purchased a new position in Consolidated Edison Inc (NYSE:ED) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,000 shares of the utilities provider’s stock, valued at approximately $1,005,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ED. Golden State Wealth Management LLC grew its holdings in shares of Consolidated Edison by 13.6% in the second quarter. Golden State Wealth Management LLC now owns 837 shares of the utilities provider’s stock worth $84,000 after purchasing an additional 100 shares during the last quarter. Certuity LLC grew its holdings in Consolidated Edison by 2.7% in the 2nd quarter. Certuity LLC now owns 3,743 shares of the utilities provider’s stock worth $376,000 after acquiring an additional 100 shares during the last quarter. Stephens Inc. AR increased its position in shares of Consolidated Edison by 0.8% in the third quarter. Stephens Inc. AR now owns 13,791 shares of the utilities provider’s stock valued at $1,386,000 after acquiring an additional 105 shares during the period. Bridgewater Advisors Inc. raised its stake in shares of Consolidated Edison by 1.7% during the third quarter. Bridgewater Advisors Inc. now owns 6,530 shares of the utilities provider’s stock valued at $618,000 after acquiring an additional 107 shares during the last quarter. Finally, HighPoint Advisor Group LLC boosted its holdings in shares of Consolidated Edison by 0.7% during the third quarter. HighPoint Advisor Group LLC now owns 14,811 shares of the utilities provider’s stock worth $1,489,000 after purchasing an additional 110 shares during the period. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Down 0.3%

NYSE:ED opened at $112.15 on Tuesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.02 and a quick ratio of 0.94. The firm’s 50-day moving average price is $105.26 and its 200-day moving average price is $101.19. The company has a market capitalization of $40.51 billion, a PE ratio of 19.85, a P/E/G ratio of 3.01 and a beta of 0.38. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $115.25.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, February 19th. The utilities provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.86 by $0.03. Consolidated Edison had a net margin of 11.95% and a return on equity of 8.50%. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the previous year, the firm posted $0.98 earnings per share. Consolidated Edison’s quarterly 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, equities analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently declared 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 dividend yield of 3.2%. The ex-dividend date is Wednesday, February 18th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.85. Consolidated Edison’s dividend payout ratio (DPR) is currently 62.83%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ED shares. Wells Fargo & Company reduced their price target on Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 20th. Scotiabank boosted their target price on Consolidated Edison from $113.00 to $117.00 and gave the company a “sector perform” rating in a research note on Friday, February 20th. KeyCorp decreased their target price on Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating for the company in a report on Friday, December 12th. Mizuho set a $118.00 price objective on shares of Consolidated Edison in a research report on Monday, February 23rd. Finally, Citigroup reaffirmed a “buy” rating on shares of Consolidated Edison in a research report on Monday, February 23rd. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $107.07.

Insiders Place Their Bets

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of Consolidated Edison 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 completion of the transaction, the director owned 38,661 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.17% of the stock is currently owned by company insiders.

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.