6,758 Consolidated Edison Inc $ED Shares Purchased by Modera Wealth Management LLC

Modera Wealth Management LLC raised its stake in Consolidated Edison Inc (NYSE:ED) by 200.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,133 shares of the utilities provider’s stock after purchasing an additional 6,758 shares during the period. Modera Wealth Management LLC’s holdings in Consolidated Edison were worth $1,036,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ED. BlackRock Inc. purchased a new position in shares of Consolidated Edison during the second quarter worth approximately $4,609,491,000. Deutsche Bank AG acquired a new position in Consolidated Edison during the 2nd quarter worth approximately $749,184,000. Legal & General Group Plc acquired a new position in Consolidated Edison during the second quarter worth $494,352,000. Bank of New York Mellon Corp purchased a new position in Consolidated Edison in the second quarter worth $231,014,000. Finally, Amundi raised its position in Consolidated Edison by 66.2% in the first quarter. Amundi now owns 3,872,404 shares of the utilities provider’s stock worth $438,272,000 after acquiring an additional 1,543,069 shares in the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on ED. Bank of America reduced their target price on Consolidated Edison from $105.00 to $96.00 in a report on Friday, October 2nd. LADENBURG THALM/SH SH upped their price target on shares of Consolidated Edison from $101.00 to $113.50 and gave the stock a “neutral” rating in a research note on Monday, July 13th. JPMorgan Chase & Co. cut their price target on shares of Consolidated Edison from $115.00 to $112.00 and set an “underweight” rating for the company in a report on Wednesday, August 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Consolidated Edison in a research note on Monday, October 19th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $105.00 price objective (down from $121.00) on shares of Consolidated Edison in a report on Tuesday, October 6th. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Consolidated Edison currently has an average rating of “Reduce” and an average target price of $108.09.

Consolidated Edison Stock Performance

NYSE:ED opened at $118.61 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $43.86 billion, a P/E ratio of 19.72, a price-to-earnings-growth ratio of 3.95 and a beta of 0.26. The firm has a 50-day moving average price of $107.97 and a two-hundred day moving average price of $109.02. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $118.79.

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

Consolidated Edison Dividend Announcement

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

Consolidated Edison Profile

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.