United Capital Financial Advisors LLC Makes New $2.10 Million Investment in Consolidated Edison Inc $ED

United Capital Financial Advisors LLC bought a new stake in Consolidated Edison Inc (NYSE:ED) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 19,024 shares of the utilities provider’s stock, valued at approximately $2,105,000.

A number of other hedge funds also recently bought and sold shares of ED. JPL Wealth Management LLC purchased a new position in shares of Consolidated Edison in the 3rd quarter worth $26,000. Basepoint Wealth LLC bought a new stake in shares of Consolidated Edison in the 4th quarter valued at approximately $26,000. Sachetta LLC boosted its holdings in shares of Consolidated Edison by 72.9% in the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 102 shares during the period. Aberdeen Wealth Management LLC bought a new stake in Consolidated Edison in the second quarter worth $27,000. Finally, Keating Financial Advisory Services Inc. purchased a new position in Consolidated Edison during the second quarter worth $30,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 0.7%

Shares of NYSE ED opened at $107.40 on Friday. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23. The firm has a market cap of $39.72 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 2.71 and a beta of 0.27. The business has a fifty day simple moving average of $109.99 and a two-hundred day simple moving average of $109.88. 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 posted its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The business had revenue of $4.07 billion for the quarter, compared to the consensus estimate 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 company earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Analysts expect that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

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

Analyst Upgrades and Downgrades

ED has been the topic of a number of analyst reports. Argus set a $112.00 price objective on shares of Consolidated Edison in a research report on Tuesday, June 23rd. KeyCorp dropped their price target 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. Barclays cut their price target on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a report on Friday, August 7th. Morgan Stanley decreased their price objective on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a research note on Friday, August 21st. Finally, Wells Fargo & Company boosted their target price on Consolidated Edison from $106.00 to $108.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $108.93.

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.