AlphaCore Capital LLC Has $803,000 Holdings in Consolidated Edison Inc $ED

AlphaCore Capital LLC grew its stake in Consolidated Edison Inc (NYSE:ED) by 143.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,989 shares of the utilities provider’s stock after purchasing an additional 4,709 shares during the period. AlphaCore Capital LLC’s holdings in Consolidated Edison were worth $803,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Consolidated Edison by 0.3% in the third quarter. Vanguard Group Inc. now owns 45,174,933 shares of the utilities provider’s stock valued at $4,540,984,000 after buying an additional 134,122 shares during the period. Geode Capital Management LLC increased its stake in Consolidated Edison by 6.1% during the second quarter. Geode Capital Management LLC now owns 9,796,782 shares of the utilities provider’s stock valued at $979,204,000 after acquiring an additional 566,358 shares during the period. Norges Bank acquired a new position in Consolidated Edison in the 2nd quarter valued at approximately $462,218,000. ATLAS Infrastructure Partners UK Ltd. raised its holdings in Consolidated Edison by 4.8% in the 2nd quarter. ATLAS Infrastructure Partners UK Ltd. now owns 2,409,288 shares of the utilities provider’s stock valued at $241,772,000 after acquiring an additional 110,666 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Consolidated Edison by 4.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,376,237 shares of the utilities provider’s stock worth $238,455,000 after acquiring an additional 104,643 shares during the period. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 1.6%

NYSE ED opened at $112.49 on Friday. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $115.25. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.02 and a quick ratio of 0.94. The firm has a market cap of $40.64 billion, a P/E ratio of 19.91, a P/E/G ratio of 2.96 and a beta of 0.38. The stock’s 50-day moving average is $104.99 and its 200-day moving average is $101.16.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.03. The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.71 billion. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.Consolidated Edison’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Sell-side analysts anticipate 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 will be paid on Monday, March 16th. Investors of record on Wednesday, February 18th will be issued a dividend of $0.8875 per share. The ex-dividend date is 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 dividend yield of 3.2%. Consolidated Edison’s dividend payout ratio (DPR) is 62.83%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ED shares. UBS Group boosted their price objective on Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. decreased their price target on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating on the stock in a research note on Friday, December 12th. Wells Fargo & Company lowered their price target on shares of Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Consolidated Edison in a report on Monday, December 29th. Finally, KeyCorp decreased their price target on Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating on the stock in a research note on Friday, December 12th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $107.07.

Insider Buying and Selling

In related news, Director John F. Killian sold 2,276 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $96.89, for a total value of $220,521.64. Following the completion of the transaction, the director directly owned 38,661 shares of the company’s stock, valued at approximately $3,745,864.29. This represents a 5.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

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.