Aquatic Capital Management LLC Acquires Shares of 58,440 Consolidated Edison Inc $ED

Aquatic Capital Management LLC acquired a new position in Consolidated Edison Inc (NYSE:ED) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 58,440 shares of the utilities provider’s stock, valued at approximately $5,874,000.

Other hedge funds have also modified their holdings of the company. Salomon & Ludwin LLC boosted its position in Consolidated Edison by 270.4% during the third quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 219 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Consolidated Edison during the 3rd quarter worth approximately $38,000. JFS Wealth Advisors LLC lifted its position in shares of Consolidated Edison by 36.4% during the 3rd quarter. JFS Wealth Advisors LLC now owns 412 shares of the utilities provider’s stock valued at $41,000 after buying an additional 110 shares in the last quarter. True Wealth Design LLC grew its stake in Consolidated Edison by 392.1% in the 3rd quarter. True Wealth Design LLC now owns 497 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 396 shares during the period. Finally, Webster Bank N. A. grew its stake in Consolidated Edison by 67.8% in the 3rd quarter. Webster Bank N. A. now owns 495 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 200 shares during the period. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $115.50 on Tuesday. The stock has a market capitalization of $41.72 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 3.08 and a beta of 0.38. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $115.75. The firm has a 50-day simple moving average of $107.91 and a 200-day simple moving average of $102.05. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 1.06.

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

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Wednesday, February 18th were given a dividend of $0.8875 per share. The ex-dividend date was Wednesday, February 18th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.85. This represents a $3.55 dividend on an annualized basis and a yield of 3.1%. Consolidated Edison’s dividend payout ratio (DPR) is 62.83%.

Insider Activity

In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $113.94, for a total value of $218,992.68. Following the completion of the sale, the senior vice president directly owned 32,453 shares of the company’s stock, valued at $3,697,694.82. This trade represents a 5.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ED shares. JPMorgan Chase & Co. upped their price objective on shares of Consolidated Edison from $107.00 to $113.00 and gave the stock an “underweight” rating in a research report on Thursday, March 12th. Barclays boosted their target price on shares of Consolidated Edison from $100.00 to $110.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 24th. TD Cowen raised their price target on shares of Consolidated Edison from $105.00 to $112.00 and gave the company a “hold” rating in a research note on Tuesday, February 24th. UBS Group lifted their price objective on Consolidated Edison from $108.00 to $112.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Finally, Citigroup reissued a “buy” rating on shares of Consolidated Edison in a report on Monday, February 23rd. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $108.80.

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.