Elevation Point Wealth Partners LLC Invests $647,000 in Consolidated Edison Inc $ED

Elevation Point Wealth Partners LLC acquired a new stake in Consolidated Edison Inc (NYSE:ED) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,849 shares of the utilities provider’s stock, valued at approximately $647,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. QRG Capital Management Inc. grew its position in Consolidated Edison by 16.9% in the 1st quarter. QRG Capital Management Inc. now owns 204,989 shares of the utilities provider’s stock worth $23,201,000 after purchasing an additional 29,635 shares during the last quarter. North Dakota State Investment Board acquired a new position in shares of Consolidated Edison during the fourth quarter valued at about $1,228,000. Los Angeles Capital Management LLC raised its position in shares of Consolidated Edison by 9.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 253,230 shares of the utilities provider’s stock valued at $24,865,000 after buying an additional 20,972 shares during the last quarter. M3 Wealth Management LLC bought a new stake in shares of Consolidated Edison in the fourth quarter valued at about $1,380,000. Finally, Arbejdsmarkedets Tillaegspension bought a new stake in shares of Consolidated Edison in the fourth quarter valued at about $24,109,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. 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. Barclays reduced their price objective on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a research report on Friday, August 7th. KeyCorp decreased their price objective on Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating on the stock in a report on Thursday, July 23rd. Mizuho set a $114.00 price objective on Consolidated Edison in a research report on Monday, July 27th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Consolidated Edison in a research note on Tuesday, July 21st. 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, the stock currently has a consensus rating of “Reduce” and a consensus target price of $108.93.

Consolidated Edison Stock Up 1.3%

Shares of NYSE:ED opened at $107.73 on Tuesday. The company’s fifty day moving average is $109.96 and its 200-day moving average is $109.92. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.17 and a current ratio of 1.27. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $116.23. The company has a market capitalization of $39.84 billion, a PE ratio of 17.69, a P/E/G ratio of 2.76 and a beta of 0.27.

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 net margin of 12.53% and a return on equity of 8.44%. The business had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $3.60 billion. During the same quarter last year, the company posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities research analysts predict that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

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