Tidal Investments LLC Buys 15,243 Shares of Consolidated Edison Inc $ED

Tidal Investments LLC raised its stake in Consolidated Edison Inc (NYSE:ED) by 75.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,439 shares of the utilities provider’s stock after buying an additional 15,243 shares during the quarter. Tidal Investments LLC’s holdings in Consolidated Edison were worth $3,921,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ED. National Pension Service boosted its stake in Consolidated Edison by 4.2% during the 2nd quarter. National Pension Service now owns 584,542 shares of the utilities provider’s stock worth $64,668,000 after acquiring an additional 23,679 shares during the last quarter. Cidel Asset Management Inc. increased its stake in Consolidated Edison by 6.2% in the second quarter. Cidel Asset Management Inc. now owns 3,711 shares of the utilities provider’s stock valued at $411,000 after purchasing an additional 218 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its holdings in Consolidated Edison by 5.3% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,461 shares of the utilities provider’s stock worth $494,000 after purchasing an additional 223 shares during the period. Integrated Wealth Concepts LLC raised its holdings in Consolidated Edison by 3.3% in the second quarter. Integrated Wealth Concepts LLC now owns 46,287 shares of the utilities provider’s stock worth $5,121,000 after purchasing an additional 1,492 shares during the period. Finally, RFG Advisory LLC boosted its position in shares of Consolidated Edison by 4.5% during the second quarter. RFG Advisory LLC now owns 3,145 shares of the utilities provider’s stock worth $348,000 after purchasing an additional 136 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Down 0.6%

Consolidated Edison stock opened at $105.83 on Tuesday. The company has a 50 day moving average of $109.15 and a 200-day moving average of $109.58. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23. The stock has a market capitalization of $39.14 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 3.69 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 EPS 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 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 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, equities research analysts anticipate that Consolidated Edison Inc will post 6.1 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Wednesday, August 19th will be paid a $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $3.55 annualized dividend and a dividend yield of 3.4%. Consolidated Edison’s dividend payout ratio (DPR) is currently 58.29%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Morgan Stanley decreased 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. Wells Fargo & Company raised their price objective 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. Barclays reduced their target price on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a report on Friday, August 7th. Evercore reissued a “positive” rating and issued a $112.00 target price on shares of Consolidated Edison in a research note on Monday, August 17th. Finally, Mizuho set a $114.00 price target on Consolidated Edison in a report on Monday, July 27th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat, Consolidated Edison has an average rating of “Reduce” and an average price target of $108.93.

About Consolidated Edison

Consolidated Edison, Inc is an energy delivery holding company headquartered in New York. Through its principal subsidiary, Consolidated Edison Company of New York, Inc, the company provides electric, natural gas and steam service to customers in New York City and Westchester County, New York.

Con Edison also operates Orange and Rockland Utilities, Inc, which supplies electric and natural gas service in parts of southeastern New York and northern New Jersey. Its utility operations include the generation, transmission and distribution of energy, as well as the maintenance of the infrastructure required to serve residential, commercial and industrial customers.

The company traces its roots to energy businesses that began operating in New York during the 19th century and adopted the Consolidated Edison name in the 1930s.