Kingdom Financial Group LLC. Makes New Investment in Consolidated Edison Inc $ED

Kingdom Financial Group LLC. purchased a new position in shares of Consolidated Edison Inc (NYSE:ED) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,629 shares of the utilities provider’s stock, valued at approximately $658,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ED. Revolve Wealth Partners LLC grew its position in Consolidated Edison by 13.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after purchasing an additional 441 shares during the period. Empowered Funds LLC grew its position in Consolidated Edison by 42.1% during the 1st quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock worth $993,000 after purchasing an additional 2,659 shares during the period. Woodline Partners LP grew its position in Consolidated Edison by 40.7% during the 1st quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock worth $3,237,000 after purchasing an additional 8,468 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Consolidated Edison during the 2nd quarter worth about $3,256,000. Finally, Baird Financial Group Inc. grew its position in Consolidated Edison by 2.1% during the 2nd quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider’s stock worth $1,473,000 after purchasing an additional 296 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Evercore set a $116.00 price target on Consolidated Edison in a research report on Monday, May 11th. Royal Bank Of Canada reissued a “sector perform” rating and set a $118.00 target price on shares of Consolidated Edison in a research note on Friday, January 23rd. JPMorgan Chase & Co. increased their target price on shares of Consolidated Edison from $107.00 to $113.00 and gave the stock an “underweight” rating in a research note on Thursday, March 12th. TD Cowen increased their target price on shares of Consolidated Edison from $105.00 to $112.00 and gave the stock a “hold” rating in a research note on Tuesday, February 24th. Finally, Bank of America reissued an “underperform” rating and set a $104.00 target price on shares of Consolidated Edison in a research note on Wednesday, February 25th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $108.71.

Insiders Place Their Bets

In related news, SVP Deneen L. Donnley sold 1,922 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $113.94, for a total value of $218,992.68. Following the transaction, the senior vice president directly owned 32,453 shares of the company’s stock, valued at approximately $3,697,694.82. This trade represents a 5.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.15% of the company’s stock.

Consolidated Edison Trading Up 1.0%

ED stock opened at $107.37 on Friday. The firm has a market cap of $39.57 billion, a P/E ratio of 18.08, a PEG ratio of 2.70 and a beta of 0.29. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $116.23. The company’s 50-day simple moving average is $110.52 and its 200-day simple moving average is $105.72. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, May 7th. The utilities provider reported $2.18 earnings per share for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.10). The company had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Consolidated Edison had a net margin of 12.52% and a return on equity of 8.33%. During the same period in the prior year, the business posted $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, equities analysts forecast that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Wednesday, May 13th will be paid a $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $3.55 dividend on an annualized basis and a yield of 3.3%. Consolidated Edison’s dividend payout ratio (DPR) is currently 59.76%.

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.