Coastal Bridge Advisors LLC Invests $1.16 Million in Consolidated Edison Inc $ED

Coastal Bridge Advisors LLC bought a new stake in shares of Consolidated Edison Inc (NYSE:ED) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,478 shares of the utilities provider’s stock, valued at approximately $1,159,000.

A number of other institutional investors have also recently made changes to their positions in ED. Revolve Wealth Partners LLC lifted its stake in shares of Consolidated Edison by 13.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock valued at $332,000 after purchasing an additional 441 shares during the last quarter. Empowered Funds LLC increased its position in shares of Consolidated Edison by 42.1% during the 1st quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock valued at $993,000 after purchasing an additional 2,659 shares during the last quarter. Woodline Partners LP increased its position in shares of Consolidated Edison by 40.7% during the 1st quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock valued at $3,237,000 after purchasing an additional 8,468 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Consolidated Edison during the 2nd quarter valued at $3,256,000. Finally, Baird Financial Group Inc. raised its holdings 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 valued at $1,473,000 after buying an additional 296 shares during the period. Institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on ED shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Consolidated Edison in a research note on Tuesday, July 21st. The Goldman Sachs Group reissued a “sell” rating and issued a $105.00 target price on shares of Consolidated Edison in a research note on Thursday, May 14th. Mizuho set a $114.00 target price on shares of Consolidated Edison in a report on Monday, July 27th. Argus set a $112.00 target price on shares of Consolidated Edison in a report on Tuesday, June 23rd. Finally, Barclays dropped their price target on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a research note on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $108.93.

Consolidated Edison Price Performance

Shares of ED stock opened at $106.63 on Friday. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $116.23. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.17 and a current ratio of 1.27. The firm has a market capitalization of $39.43 billion, a P/E ratio of 17.51, a P/E/G ratio of 2.74 and a beta of 0.27. The stock has a 50 day moving average price of $109.97 and a 200 day moving average price of $109.90.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.76 by $0.07. The company had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $3.60 billion. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.During the same quarter in the prior year, the company posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, sell-side analysts predict that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Dividend Announcement

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