Empowered Funds LLC Takes $2.73 Million Position in Consolidated Edison Inc $ED

Empowered Funds LLC acquired a new stake in shares of Consolidated Edison Inc (NYSE:ED) during the second quarter, HoldingsChannel reports. The fund acquired 24,674 shares of the utilities provider’s stock, valued at approximately $2,730,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ED. Aberdeen Wealth Management LLC purchased a new stake in Consolidated Edison during the 2nd quarter valued at $27,000. Sachetta LLC lifted its holdings in shares of Consolidated Edison by 72.9% during the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock valued at $27,000 after buying an additional 102 shares during the period. JPL Wealth Management LLC purchased a new position in shares of Consolidated Edison in the 3rd quarter worth $26,000. Basepoint Wealth LLC purchased a new position in shares of Consolidated Edison in the 4th quarter worth $26,000. Finally, Keating Financial Advisory Services Inc. bought a new stake in shares of Consolidated Edison in the second quarter worth $30,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on ED shares. Barclays reduced their price objective on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a research report on Friday, August 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Consolidated Edison in a research report on Tuesday, July 21st. Mizuho set a $114.00 price target on Consolidated Edison in a research note on Monday, July 27th. Evercore reaffirmed a “positive” rating and set a $112.00 price target on shares of Consolidated Edison in a research report on Monday, August 17th. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $105.00 price objective on shares of Consolidated Edison in a research note on Thursday, May 14th. Three research 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $108.93.

Consolidated Edison Trading Up 0.1%

Shares of ED stock opened at $107.77 on Thursday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.27 and a quick ratio of 1.17. The company has a market cap of $39.86 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 3.73 and a beta of 0.27. Consolidated Edison Inc has a 1 year low of $94.96 and a 1 year high of $116.23. The firm has a fifty day moving average price of $109.91 and a 200-day moving average price of $109.85.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The company 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 period last 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 predict that Consolidated Edison Inc will post 6.1 earnings per share for the current year.

Consolidated Edison Dividend Announcement

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

Consolidated Edison 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.