Commerce Bank Makes New Investment in Consolidated Edison Inc $ED

Commerce Bank purchased a new stake in Consolidated Edison Inc (NYSE:ED) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 41,811 shares of the utilities provider’s stock, valued at approximately $4,626,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Sachetta LLC increased its position in shares of Consolidated Edison by 72.9% during the first quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock worth $27,000 after buying an additional 102 shares during the period. JPL Wealth Management LLC acquired a new position in Consolidated Edison in the third quarter valued at $26,000. Basepoint Wealth LLC acquired a new position in Consolidated Edison in the fourth quarter valued at $26,000. Keating Financial Advisory Services Inc. bought a new stake in Consolidated Edison during the second quarter valued at $30,000. Finally, Turning Point Benefit Group Inc. bought a new stake in Consolidated Edison during the third quarter valued at $32,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

ED stock opened at $106.52 on Monday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.27 and a quick ratio of 1.17. The company’s 50-day moving average is $109.96 and its 200-day moving average is $109.91. The stock has a market capitalization of $39.39 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 2.76 and a beta of 0.27. Consolidated Edison Inc has a 1 year low of $94.96 and a 1 year high of $116.23.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $3.60 billion. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.During the same period in the previous year, the company posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities research analysts expect that Consolidated Edison Inc will post 6.09 EPS 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 is Wednesday, August 19th. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. Consolidated Edison’s payout ratio is currently 58.29%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ED. Wells Fargo & Company lifted their price objective on Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Argus set a $112.00 target price on Consolidated Edison in a research report on Tuesday, June 23rd. Evercore reaffirmed a “positive” rating and set a $112.00 target price on shares of Consolidated Edison in a research note on Monday, August 17th. Barclays lowered their target price on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a report on Friday, August 7th. Finally, Morgan Stanley dropped their price target on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a research note on Friday. 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 stock presently has a consensus rating of “Reduce” and a consensus target price of $108.93.

Consolidated Edison Company 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.