Lipe & Dalton Invests $697,000 in Consolidated Edison Inc $ED

Lipe & Dalton purchased a new stake in shares of Consolidated Edison Inc (NYSE:ED) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 6,303 shares of the utilities provider’s stock, valued at approximately $697,000.

Several other hedge funds also recently added to or reduced their stakes in ED. GW&K Investment Management LLC raised its position in Consolidated Edison by 28.5% in the fourth quarter. GW&K Investment Management LLC now owns 419 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 93 shares during the period. Cornerstone Financial Management LLC raised its holdings in Consolidated Edison by 43.2% in the 2nd quarter. Cornerstone Financial Management LLC now owns 318 shares of the utilities provider’s stock valued at $35,000 after buying an additional 96 shares during the period. bLong Financial LLC raised its holdings in Consolidated Edison by 1.3% in the 4th quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider’s stock valued at $772,000 after buying an additional 100 shares during the period. Sachetta LLC lifted its position in Consolidated Edison by 72.9% in the first quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock valued at $27,000 after buying an additional 102 shares during the last quarter. Finally, Frank Rimerman Advisors LLC boosted its stake in Consolidated Edison by 1.3% during the first quarter. Frank Rimerman Advisors LLC now owns 8,275 shares of the utilities provider’s stock worth $937,000 after buying an additional 105 shares during the period. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ED shares. Evercore restated a “positive” rating and issued a $112.00 price objective on shares of Consolidated Edison in a report on Monday, August 17th. Mizuho set a $114.00 target price on Consolidated Edison in a research report on Monday, July 27th. KeyCorp decreased their price target on Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating on the stock in a research note on Thursday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Consolidated Edison in a research report on Tuesday, July 21st. Finally, Wells Fargo & Company boosted their price objective on Consolidated Edison from $106.00 to $108.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and six have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $108.93.

Consolidated Edison Stock Up 1.1%

ED traded up $1.16 during trading hours on Tuesday, hitting $108.45. 2,168,884 shares of the company’s stock were exchanged, compared to its average volume of 2,247,093. The firm has a market cap of $40.11 billion, a P/E ratio of 17.81, a price-to-earnings-growth ratio of 3.71 and a beta of 0.27. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $116.23. 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 firm has a 50 day moving average of $109.63 and a 200 day moving average of $109.71.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, topping 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 business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter in the previous year, the firm posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Analysts predict that Consolidated Edison Inc will post 6.1 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders 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 yield of 3.3%. Consolidated Edison’s dividend payout ratio is 58.29%.

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.