Consolidated Edison Inc $ED Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its position in shares of Consolidated Edison Inc (NYSE:ED) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 312,494 shares of the utilities provider’s stock after acquiring an additional 16,656 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Consolidated Edison were worth $31,048,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Consolidated Edison by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 45,174,933 shares of the utilities provider’s stock worth $4,540,984,000 after purchasing an additional 134,122 shares in the last quarter. State Street Corp lifted its position in Consolidated Edison by 0.3% during the third quarter. State Street Corp now owns 24,050,572 shares of the utilities provider’s stock valued at $2,417,563,000 after buying an additional 63,346 shares in the last quarter. Lazard Asset Management LLC grew its stake in Consolidated Edison by 121,543.9% during the third quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock worth $599,155,000 after buying an additional 5,955,653 shares during the period. Norges Bank purchased a new stake in Consolidated Edison during the second quarter worth approximately $462,218,000. Finally, Legal & General Group Plc increased its position in shares of Consolidated Edison by 1.2% in the third quarter. Legal & General Group Plc now owns 4,351,530 shares of the utilities provider’s stock worth $437,416,000 after acquiring an additional 52,061 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

ED has been the topic of several recent research reports. Morgan Stanley restated an “underweight” rating and set a $102.00 target price on shares of Consolidated Edison in a report on Friday, February 20th. UBS Group raised their price objective on Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Citigroup reaffirmed a “buy” rating on shares of Consolidated Edison in a research report on Monday, February 23rd. Royal Bank Of Canada reiterated a “sector perform” rating and set a $118.00 target price on shares of Consolidated Edison in a report on Friday, January 23rd. Finally, Bank of America reissued an “underperform” rating and set a $104.00 price target on shares of Consolidated Edison in a research report on Wednesday, February 25th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, Consolidated Edison has an average rating of “Reduce” and a consensus target price of $108.80.

Insider Activity

In related news, SVP Deneen L. Donnley sold 1,922 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $113.94, for a total value of $218,992.68. Following the sale, the senior vice president directly owned 32,453 shares of the company’s stock, valued at $3,697,694.82. This represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.17% of the company’s stock.

Consolidated Edison Stock Performance

Shares of ED stock opened at $109.80 on Wednesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.02 and a quick ratio of 0.94. The company’s fifty day moving average price is $109.33 and its two-hundred day moving average price is $102.61. The firm has a market capitalization of $39.66 billion, a P/E ratio of 19.43, a P/E/G ratio of 2.78 and a beta of 0.38. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $116.23.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.03. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.71 billion. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, research analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Wednesday, February 18th were given a dividend of $0.8875 per share. The ex-dividend date of this dividend was Wednesday, February 18th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.85. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.2%. Consolidated Edison’s dividend payout ratio is 62.83%.

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.