204,723 Shares in Consolidated Edison Inc $ED Purchased by Wealthfront Advisers LLC

Wealthfront Advisers LLC bought a new stake in shares of Consolidated Edison Inc (NYSE:ED) in the second quarter, Holdings Channel reports. The fund bought 204,723 shares of the utilities provider’s stock, valued at approximately $22,648,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GW&K Investment Management LLC lifted its holdings in shares of Consolidated Edison by 28.5% in the fourth quarter. GW&K Investment Management LLC now owns 419 shares of the utilities provider’s stock worth $42,000 after buying an additional 93 shares in the last quarter. bLong Financial LLC grew its stake in Consolidated Edison by 1.3% during the fourth quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider’s stock valued at $772,000 after acquiring an additional 100 shares in the last quarter. Sachetta LLC increased its holdings in Consolidated Edison by 72.9% during the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 102 shares during the period. Frank Rimerman Advisors LLC increased its holdings in Consolidated Edison by 1.3% during the 1st quarter. Frank Rimerman Advisors LLC now owns 8,275 shares of the utilities provider’s stock worth $937,000 after acquiring an additional 105 shares during the period. Finally, Venture Visionary Partners LLC lifted its stake in Consolidated Edison by 2.0% in the 4th quarter. Venture Visionary Partners LLC now owns 5,606 shares of the utilities provider’s stock worth $557,000 after purchasing an additional 108 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Price Performance

ED stock opened at $109.13 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.27 and a quick ratio of 1.17. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23. The stock has a market cap of $40.36 billion, a PE ratio of 17.92, a P/E/G ratio of 2.83 and a beta of 0.27. The firm has a 50 day simple moving average of $109.95 and a two-hundred day simple moving average of $109.88.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, beating the consensus estimate 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 last year, the company posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, analysts predict that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on ED shares. Mizuho set a $114.00 price target on shares of Consolidated Edison in a report on Monday, July 27th. KeyCorp lowered their price objective on Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating on the stock in a research report on Thursday, July 23rd. Wells Fargo & Company lifted their price objective on Consolidated Edison from $106.00 to $108.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Morgan Stanley reissued an “underweight” rating on shares of Consolidated Edison in a research note on Wednesday, July 22nd. Finally, Evercore restated a “positive” rating and set a $112.00 target price on shares of Consolidated Edison in a research report on Monday. Three 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. Based on data from MarketBeat, Consolidated Edison has an average 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.