Wealth Enhancement Advisory Services LLC Buys 16,656 Shares of Consolidated Edison Inc $ED

Wealth Enhancement Advisory Services LLC lifted its position in Consolidated Edison Inc (NYSE:ED) by 5.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 312,494 shares of the utilities provider’s stock after purchasing an additional 16,656 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.09% of Consolidated Edison worth $31,048,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPL Wealth Management LLC purchased a new position in shares of Consolidated Edison in the third quarter valued at $26,000. Aventura Private Wealth LLC purchased a new stake in shares of Consolidated Edison during the 4th quarter valued at about $27,000. Salomon & Ludwin LLC lifted its holdings in shares of Consolidated Edison by 270.4% in the 3rd quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 219 shares during the last quarter. Turning Point Benefit Group Inc. purchased a new position in Consolidated Edison in the third quarter worth about $32,000. Finally, Palisade Asset Management LLC purchased a new position in Consolidated Edison in the third quarter worth about $37,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Performance

Shares of NYSE:ED opened at $109.80 on Wednesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 1.02. The firm’s 50 day simple moving average is $109.33 and its 200-day simple moving average is $102.61. The firm has a market cap of $39.66 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 2.78 and a beta of 0.38. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, February 19th. The utilities provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.03. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the previous year, the company posted $0.98 earnings per share. The firm’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. As a group, equities analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Wednesday, February 18th were given a $0.8875 dividend. This represents a $3.55 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Wednesday, February 18th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.85. Consolidated Edison’s dividend payout ratio is currently 62.83%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Barclays upped their price objective on Consolidated Edison from $100.00 to $110.00 and gave the company an “underweight” rating in a research report on Tuesday, February 24th. Bank of America reissued an “underperform” rating and set a $104.00 target price on shares of Consolidated Edison in a research report on Wednesday, February 25th. Wells Fargo & Company decreased 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. Mizuho set a $118.00 price target on Consolidated Edison in a research report on Monday, February 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Consolidated Edison from $107.00 to $113.00 and gave the stock an “underweight” rating in a research note on Thursday, March 12th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $108.80.

Insider Activity

In other news, SVP Deneen L. Donnley sold 1,922 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $113.94, for a total transaction of $218,992.68. Following the transaction, the senior vice president directly owned 32,453 shares of the company’s stock, valued at approximately $3,697,694.82. This represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

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.