Glenview Trust Co Makes New Investment in Consolidated Edison Inc $ED

Glenview Trust Co bought a new stake in shares of Consolidated Edison Inc (NYSE:ED) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 8,604 shares of the utilities provider’s stock, valued at approximately $952,000.

Other large investors also recently made changes to their positions in the company. QRG Capital Management Inc. raised its stake in Consolidated Edison by 16.9% during the 1st quarter. QRG Capital Management Inc. now owns 204,989 shares of the utilities provider’s stock valued at $23,201,000 after acquiring an additional 29,635 shares during the last quarter. North Dakota State Investment Board purchased a new position in shares of Consolidated Edison in the 4th quarter valued at approximately $1,228,000. Los Angeles Capital Management LLC increased its holdings in shares of Consolidated Edison by 9.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 253,230 shares of the utilities provider’s stock valued at $24,865,000 after purchasing an additional 20,972 shares during the period. M3 Wealth Management LLC purchased a new stake in shares of Consolidated Edison during the fourth quarter worth approximately $1,380,000. Finally, Arbejdsmarkedets Tillaegspension purchased a new stake in shares of Consolidated Edison during the fourth quarter worth approximately $24,109,000. Institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

ED has been the topic of a number of analyst reports. Barclays lowered their price objective on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a research report on Friday, August 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Consolidated Edison in a research note on Tuesday, July 21st. Morgan Stanley cut their price target on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a report on Friday, August 21st. KeyCorp lowered their price objective on Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating on the stock in a report on Thursday, July 23rd. Finally, Mizuho set a $114.00 price objective on Consolidated Edison in a report on Monday, July 27th. Three 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. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $108.93.

Consolidated Edison Price Performance

Consolidated Edison stock opened at $107.40 on Friday. The company has a market cap of $39.72 billion, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 2.71 and a beta of 0.27. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23. The business has a fifty day moving average of $109.99 and a two-hundred day moving average of $109.88. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.17 and a current ratio of 1.27.

Consolidated Edison (NYSE:ED) last posted its quarterly 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 business 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 period in the prior year, the company posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, analysts predict that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

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

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.