Welch Group LLC Buys 6,888 Shares of Consolidated Edison Inc $ED

Welch Group LLC grew its stake in shares of Consolidated Edison Inc (NYSE:ED) by 1.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 539,917 shares of the utilities provider’s stock after buying an additional 6,888 shares during the period. Consolidated Edison accounts for approximately 1.9% of Welch Group LLC’s holdings, making the stock its 25th biggest holding. Welch Group LLC owned approximately 0.15% of Consolidated Edison worth $55,185,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nykredit A S acquired a new position in shares of Consolidated Edison in the 2nd quarter valued at about $23,566,000. SteelPeak Wealth LLC acquired a new stake in Consolidated Edison during the 1st quarter worth approximately $3,751,000. SWS Partners acquired a new stake in Consolidated Edison during the 2nd quarter worth approximately $3,060,000. Tidal Investments LLC increased its position in Consolidated Edison by 75.5% during the 2nd quarter. Tidal Investments LLC now owns 35,439 shares of the utilities provider’s stock worth $3,921,000 after purchasing an additional 15,243 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Consolidated Edison in the second quarter valued at approximately $53,495,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ED shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Consolidated Edison in a research report on Monday, October 19th. Morgan Stanley dropped their target price on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating on the stock in a report on Friday, September 18th. Mizuho set a $108.00 price target on Consolidated Edison in a research report on Wednesday, October 7th. Royal Bank Of Canada decreased their price target on Consolidated Edison from $110.00 to $109.00 in a report on Monday, October 26th. Finally, The Goldman Sachs Group lowered their price objective on shares of Consolidated Edison from $106.00 to $102.00 in a research report on Thursday, October 15th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $108.09.

Consolidated Edison Stock Performance

NYSE:ED opened at $116.81 on Monday. The firm has a 50-day moving average of $107.73 and a two-hundred day moving average of $108.93. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.27 and a quick ratio of 1.17. The stock has a market cap of $43.20 billion, a P/E ratio of 19.18, a PEG ratio of 4.04 and a beta of 0.23. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $117.65.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same period in the previous year, the company earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, research analysts expect that Consolidated Edison Inc will post 6.10 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Wednesday, November 18th will be issued a dividend of $0.8875 per share. The ex-dividend date is Wednesday, November 18th. This represents a $3.55 annualized dividend and a yield of 3.0%. Consolidated Edison’s payout ratio is currently 58.29%.

About Consolidated Edison

Consolidated Edison, Inc is a diversified energy company headquartered in New York City. Through its regulated utility subsidiaries, the company delivers electricity, natural gas and steam to residential, commercial and industrial customers.

Its principal subsidiary, Consolidated Edison Company of New York, provides electric service throughout New York City and Westchester County, along with gas service in Manhattan, the Bronx, parts of Queens and Westchester County, and steam service in parts of Manhattan.