Vise Technologies Inc. Invests $6.69 Million in Consolidated Edison Inc $ED

Vise Technologies Inc. acquired a new position in shares of Consolidated Edison Inc (NYSE:ED) in the 2nd quarter, HoldingsChannel reports. The firm acquired 60,505 shares of the utilities provider’s stock, valued at approximately $6,694,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Basepoint Wealth LLC bought a new stake in Consolidated Edison during the 4th quarter worth approximately $26,000. JPL Wealth Management LLC acquired a new stake in Consolidated Edison during the 3rd quarter valued at $26,000. Sachetta LLC raised its position in Consolidated Edison by 72.9% in the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 102 shares during the last quarter. Godfrey Financial Associates Inc. bought a new position in Consolidated Edison in the 4th quarter valued at $32,000. Finally, Turning Point Benefit Group Inc. bought a new position in Consolidated Edison in the 3rd quarter valued at $32,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Trading Up 0.3%

ED opened at $108.33 on Friday. The firm’s fifty day moving average is $109.99 and its two-hundred day moving average is $109.91. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.17 and a current ratio of 1.27. The firm has a market cap of $40.06 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 2.80 and a beta of 0.27. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. The company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.60 billion. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.During the same period in the prior year, the company earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities research analysts anticipate that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Announces Dividend

The firm 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 dividend of $0.8875 per share. 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 presently 58.29%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ED shares. Weiss Ratings restated a “buy (b)” rating on shares of Consolidated Edison in a report on Tuesday, July 21st. Evercore reissued a “positive” rating and issued a $112.00 target price on shares of Consolidated Edison in a research note on Monday. Argus set a $112.00 price target on shares of Consolidated Edison in a research note on Tuesday, June 23rd. Barclays dropped their price objective on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a report on Friday, August 7th. Finally, KeyCorp reduced their target price on Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating on the stock in a report on Thursday, July 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’s stock. According to MarketBeat.com, Consolidated Edison currently 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.