United Financial Planning Group LLC Makes New Investment in Consolidated Edison Inc $ED

United Financial Planning Group LLC acquired a new position in shares of Consolidated Edison Inc (NYSE:ED) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 8,044 shares of the utilities provider’s stock, valued at approximately $809,000. Consolidated Edison comprises approximately 0.4% of United Financial Planning Group LLC’s investment portfolio, making the stock its 21st largest position.

Several other large investors have also recently bought and sold shares of ED. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Consolidated Edison by 13.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,819 shares of the utilities provider’s stock valued at $7,320,000 after purchasing an additional 8,562 shares in the last quarter. Bryce Point Capital LLC acquired a new stake in Consolidated Edison during the third quarter worth approximately $556,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Consolidated Edison by 3.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,028,686 shares of the utilities provider’s stock worth $103,404,000 after buying an additional 29,606 shares during the last quarter. Nuance Investments LLC purchased a new stake in shares of Consolidated Edison during the 3rd quarter worth approximately $4,017,000. Finally, Caprock Group LLC acquired a new position in shares of Consolidated Edison in the 3rd quarter valued at $2,586,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

NYSE ED opened at $114.85 on Friday. The firm has a market cap of $41.49 billion, a P/E ratio of 20.33, a P/E/G ratio of 3.04 and a beta of 0.38. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $115.37. The business’s 50-day moving average price is $107.57 and its 200 day moving average price is $101.90. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 1.06.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, February 19th. The utilities provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.86 by $0.03. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.71 billion. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.The firm’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, equities research analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Wednesday, February 18th will be given a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Wednesday, February 18th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.85. Consolidated Edison’s payout ratio is currently 62.83%.

Insider Activity at Consolidated Edison

In other news, SVP Deneen L. Donnley sold 1,922 shares of Consolidated Edison stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $113.94, for a total value of $218,992.68. Following the sale, the senior vice president owned 32,453 shares of the company’s stock, valued at $3,697,694.82. The trade was a 5.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on ED shares. Morgan Stanley reiterated an “underweight” rating and set a $102.00 price target on shares of Consolidated Edison in a research note on Friday, February 20th. KeyCorp upped their price objective on shares of Consolidated Edison from $86.00 to $96.00 and gave the company an “underweight” rating in a research note on Wednesday, March 4th. Mizuho set a $118.00 target price on Consolidated Edison in a report on Monday, February 23rd. JPMorgan Chase & Co. upped their target price on Consolidated Edison from $107.00 to $113.00 and gave the company an “underweight” rating in a research report on Thursday. Finally, TD Cowen boosted their price objective on Consolidated Edison from $105.00 to $112.00 and gave the company a “hold” rating in a research note on Tuesday, February 24th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Consolidated Edison has a consensus rating of “Reduce” and an average target price of $108.80.

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.