Occidental Asset Management LLC Invests $1.12 Million in Consolidated Edison Inc $ED

Occidental Asset Management LLC purchased a new stake in shares of Consolidated Edison Inc (NYSE:ED) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 10,144 shares of the utilities provider’s stock, valued at approximately $1,122,000.

Several other large investors have also made changes to their positions in ED. Revolve Wealth Partners LLC raised its position in Consolidated Edison by 13.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock valued at $332,000 after acquiring an additional 441 shares in the last quarter. Empowered Funds LLC grew its position in Consolidated Edison by 42.1% in the first quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock worth $993,000 after acquiring an additional 2,659 shares in the last quarter. Woodline Partners LP grew its position in Consolidated Edison by 40.7% in the first quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock worth $3,237,000 after acquiring an additional 8,468 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Consolidated Edison during the 2nd quarter worth $3,256,000. Finally, Baird Financial Group Inc. increased its stake in shares of Consolidated Edison by 2.1% during the 2nd quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider’s stock worth $1,473,000 after purchasing an additional 296 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. KeyCorp reduced their price objective on shares of Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating for the company in a research note on Thursday, July 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Consolidated Edison in a research report on Tuesday, July 21st. Morgan Stanley restated an “underweight” rating on shares of Consolidated Edison in a report on Wednesday, July 22nd. Wells Fargo & Company upped their price target on Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Finally, Argus set a $112.00 price target on Consolidated Edison in a research note on Tuesday, June 23rd. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $108.80.

Consolidated Edison Price Performance

Shares of Consolidated Edison stock opened at $108.91 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 1.04. The firm has a fifty day simple moving average of $109.90 and a 200-day simple moving average of $109.85. The stock has a market capitalization of $40.28 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 2.83 and a beta of 0.27. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.23.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates 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 last year, the business posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, sell-side analysts expect that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Wednesday, August 19th will be given a $0.8875 dividend. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 19th. Consolidated Edison’s dividend payout ratio (DPR) is currently 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.