Perigon Wealth Management LLC Has $1.22 Million Position in Consolidated Edison Inc $ED

Perigon Wealth Management LLC boosted its stake in shares of Consolidated Edison Inc (NYSE:ED) by 63.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,295 shares of the utilities provider’s stock after acquiring an additional 4,763 shares during the period. Perigon Wealth Management LLC’s holdings in Consolidated Edison were worth $1,221,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPL Wealth Management LLC bought a new position in shares of Consolidated Edison in the third quarter worth $26,000. Aventura Private Wealth LLC bought a new position in Consolidated Edison in the 4th quarter valued at about $27,000. Dorato Capital Management bought a new position in Consolidated Edison in the 4th quarter valued at about $28,000. Salomon & Ludwin LLC raised its position in shares of Consolidated Edison by 270.4% in the 3rd quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock valued at $30,000 after buying an additional 219 shares in the last quarter. Finally, Turning Point Benefit Group Inc. bought a new stake in shares of Consolidated Edison during the 3rd quarter worth approximately $32,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Deneen L. Donnley sold 1,922 shares of the business’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 transaction, the senior vice president owned 32,453 shares in the company, valued at $3,697,694.82. The trade was a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is owned by corporate insiders.

Consolidated Edison Stock Up 0.1%

Shares of ED opened at $115.50 on Monday. The stock’s 50-day moving average price is $110.88 and its two-hundred day moving average price is $103.53. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $116.23. The company has a market capitalization of $41.72 billion, a PE ratio of 20.44, a PEG ratio of 2.94 and a beta of 0.34. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06.

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

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Wednesday, February 18th were paid a dividend of $0.8875 per share. This is a boost 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%. The ex-dividend date of this dividend was Wednesday, February 18th. Consolidated Edison’s payout ratio is 62.83%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ED shares. Barclays increased their price target on shares of Consolidated Edison from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 24th. KeyCorp boosted their price objective on shares of Consolidated Edison from $86.00 to $96.00 and gave the company an “underweight” rating in a research report on Wednesday, March 4th. JPMorgan Chase & Co. upped their target price on Consolidated Edison from $107.00 to $113.00 and gave the stock an “underweight” rating in a research note on Thursday, March 12th. Mizuho set a $118.00 price target on Consolidated Edison in a research note on Monday, February 23rd. Finally, Scotiabank lifted their price target on Consolidated Edison from $113.00 to $117.00 and gave the company a “sector perform” rating in a research note on Friday, February 20th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $108.80.

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.