Northstar Financial Companies Inc. Invests $984,000 in Consolidated Edison Inc $ED

Northstar Financial Companies Inc. acquired a new position in Consolidated Edison Inc (NYSE:ED) during the second quarter, HoldingsChannel.com reports. The fund acquired 8,898 shares of the utilities provider’s stock, valued at approximately $984,000.

Other institutional investors have also added to or reduced their stakes in the company. QRG Capital Management Inc. lifted its holdings in Consolidated Edison by 16.9% in the first quarter. QRG Capital Management Inc. now owns 204,989 shares of the utilities provider’s stock valued at $23,201,000 after buying an additional 29,635 shares during the period. North Dakota State Investment Board acquired a new stake in Consolidated Edison during the 4th quarter worth about $1,228,000. Los Angeles Capital Management LLC raised its position in shares of Consolidated Edison by 9.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 253,230 shares of the utilities provider’s stock worth $24,865,000 after acquiring an additional 20,972 shares in the last quarter. M3 Wealth Management LLC bought a new position in shares of Consolidated Edison in the 4th quarter worth about $1,380,000. Finally, Arbejdsmarkedets Tillaegspension acquired a new position in shares of Consolidated Edison in the 4th quarter valued at about $24,109,000. 66.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. KeyCorp cut their target price 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. Argus set a $112.00 target price on Consolidated Edison in a report on Tuesday, June 23rd. Wells Fargo & Company boosted their price target 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 restated an “underweight” rating on shares of Consolidated Edison in a report on Wednesday, July 22nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Consolidated Edison in a report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $109.07.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $108.73 on Monday. The firm’s 50-day moving average price is $109.81 and its 200-day moving average price is $109.83. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.23. The firm has a market capitalization of $40.21 billion, a P/E ratio of 17.85, a P/E/G ratio of 2.83 and a beta of 0.27. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data 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. The company 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 in the prior year, the firm earned $0.67 EPS. 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 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

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 issued a $0.8875 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $3.55 annualized dividend and a yield of 3.3%. Consolidated Edison’s dividend payout ratio is presently 58.29%.

Consolidated Edison Profile

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.