Kingsview Wealth Management LLC Purchases New Stake in Consolidated Edison Inc $ED

Kingsview Wealth Management LLC bought a new stake in Consolidated Edison Inc (NYSE:ED) during the 2nd quarter, HoldingsChannel reports. The fund bought 5,048 shares of the utilities provider’s stock, valued at approximately $558,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Consolidated Edison during the 2nd quarter worth approximately $4,609,491,000. State Street Corp increased its stake in Consolidated Edison by 3.6% in the fourth quarter. State Street Corp now owns 24,905,440 shares of the utilities provider’s stock valued at $2,473,608,000 after acquiring an additional 854,868 shares during the last quarter. Lazard Asset Management LLC raised its position in Consolidated Edison by 14.8% during the first quarter. Lazard Asset Management LLC now owns 7,075,838 shares of the utilities provider’s stock valued at $800,843,000 after purchasing an additional 910,244 shares in the last quarter. Deutsche Bank AG acquired a new position in Consolidated Edison during the second quarter valued at approximately $749,184,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Consolidated Edison by 11.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,200,840 shares of the utilities provider’s stock worth $516,549,000 after purchasing an additional 514,178 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $107.40 on Monday. Consolidated Edison Inc has a fifty-two week low of $94.96 and a fifty-two week high of $116.23. 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 firm has a market capitalization of $39.72 billion, a P/E ratio of 17.64, a P/E/G ratio of 2.73 and a beta of 0.27. The company’s 50 day moving average price is $109.99 and its two-hundred day moving average price is $109.90.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, topping 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 net margin of 12.53% and a return on equity of 8.44%. During the same quarter in the previous year, the firm posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, equities analysts forecast that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Wednesday, August 19th will be given a dividend of $0.8875 per share. The ex-dividend date is Wednesday, August 19th. This represents a $3.55 dividend on an annualized basis and a yield of 3.3%. Consolidated Edison’s payout ratio is currently 58.29%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ED. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Consolidated Edison in a report on Tuesday, July 21st. Mizuho set a $114.00 price target on Consolidated Edison in a report on Monday, July 27th. Barclays dropped 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. KeyCorp reduced their price objective on Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating on the stock in a research note on Thursday, July 23rd. Finally, Evercore reiterated a “positive” rating and issued a $112.00 target price on shares of Consolidated Edison in a research report on Monday, August 17th. Three equities research 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. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $108.93.

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.