51,921 Shares in Consolidated Edison Inc $ED Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC purchased a new stake in shares of Consolidated Edison Inc (NYSE:ED) in the second quarter, Holdings Channel.com reports. The firm purchased 51,921 shares of the utilities provider’s stock, valued at approximately $5,744,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ED. Revolve Wealth Partners LLC lifted its holdings in shares of Consolidated Edison by 13.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock valued at $332,000 after purchasing an additional 441 shares in the last quarter. Empowered Funds LLC lifted its stake in Consolidated Edison by 42.1% during the 1st quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock valued at $993,000 after acquiring an additional 2,659 shares in the last quarter. Woodline Partners LP lifted its stake in Consolidated Edison by 40.7% during the 1st quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock valued at $3,237,000 after acquiring an additional 8,468 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Consolidated Edison during the 2nd quarter worth $3,256,000. Finally, Baird Financial Group Inc. boosted its holdings in Consolidated Edison by 2.1% during the 2nd quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider’s stock worth $1,473,000 after acquiring an additional 296 shares during the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Stock Up 1.3%

ED opened at $107.73 on Tuesday. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23. The company’s 50-day moving average price is $109.96 and its two-hundred day moving average price is $109.92. The stock has a market cap of $39.84 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 2.76 and a beta of 0.27. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The firm had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $3.60 billion. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.During the same quarter in the prior year, the firm earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, equities analysts expect that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Wednesday, August 19th will be issued a $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $3.55 annualized dividend and a yield of 3.3%. Consolidated Edison’s dividend payout ratio (DPR) is 58.29%.

Analyst Upgrades and Downgrades

ED has been the subject of several recent analyst reports. KeyCorp reduced their target price on shares of Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating for the company in a research note on Thursday, July 23rd. Mizuho set a $114.00 price target on shares of Consolidated Edison in a report on Monday, July 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Consolidated Edison in a research report on Tuesday, July 21st. Evercore reaffirmed a “positive” rating and issued a $112.00 price objective on shares of Consolidated Edison in a research report on Monday, August 17th. Finally, Wells Fargo & Company increased their price objective on shares of Consolidated Edison from $106.00 to $108.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Consolidated Edison presently has an average rating of “Reduce” and a consensus target price of $108.93.

Consolidated Edison Company 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.