Tectonic Advisors LLC Acquires 7,250 Shares of Consolidated Edison Inc $ED

Tectonic Advisors LLC increased its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 6.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 120,564 shares of the utilities provider’s stock after purchasing an additional 7,250 shares during the period. Tectonic Advisors LLC’s holdings in Consolidated Edison were worth $12,323,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Capital Investment Advisors LLC grew its stake in shares of Consolidated Edison by 2.9% in the third quarter. Capital Investment Advisors LLC now owns 24,942 shares of the utilities provider’s stock valued at $2,549,000 after buying an additional 709 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in shares of Consolidated Edison by 265.6% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 15,667 shares of the utilities provider’s stock valued at $1,601,000 after buying an additional 11,382 shares during the period. Sterling Capital Management LLC raised its holdings in shares of Consolidated Edison by 251.7% during the 3rd quarter. Sterling Capital Management LLC now owns 40,649 shares of the utilities provider’s stock valued at $4,155,000 after buying an additional 29,090 shares during the period. Inspire Investing LLC raised its holdings in shares of Consolidated Edison by 8.2% during the 3rd quarter. Inspire Investing LLC now owns 19,618 shares of the utilities provider’s stock valued at $2,005,000 after buying an additional 1,492 shares during the period. Finally, MBL Wealth LLC acquired a new position in Consolidated Edison during the 3rd quarter worth approximately $239,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Consolidated Edison in a research note on Monday. Barclays decreased their target price 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. Morgan Stanley lowered their price target on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a report on Friday, September 18th. HSBC initiated coverage on shares of Consolidated Edison in a research note on Thursday. They set a “hold” rating and a $104.00 price target on the stock. Finally, Evercore reiterated a “positive” rating and issued a $112.00 price objective on shares of Consolidated Edison in a report on Monday, August 17th. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $107.50.

Consolidated Edison Stock Down 0.4%

Shares of ED stock traded down $0.44 during mid-day trading on Friday, reaching $115.82. 2,538,719 shares of the company were exchanged, compared to its average volume of 2,308,437. Consolidated Edison Inc has a fifty-two week low of $94.96 and a fifty-two week high of $116.50. 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 company has a market capitalization of $42.83 billion, a P/E ratio of 19.02, a P/E/G ratio of 4.02 and a beta of 0.26. The business’s 50 day simple moving average is $107.03 and its 200 day simple moving average is $108.44.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping 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 net margin of 12.53% and a return on equity of 8.44%. During the same quarter in the previous year, the firm earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Research analysts predict that Consolidated Edison Inc will post 6.10 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Wednesday, November 18th will be paid a dividend of $0.8875 per share. The ex-dividend date is Wednesday, November 18th. This represents a $3.55 annualized dividend and a yield of 3.1%. Consolidated Edison’s dividend payout ratio is presently 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.