Consolidated Edison Inc $ED Position Lessened by Wakefield Asset Management LLLP

Wakefield Asset Management LLLP lowered its position in Consolidated Edison Inc (NYSE:ED) by 87.7% during the third quarter, HoldingsChannel.com reports. The firm owned 4,164 shares of the utilities provider’s stock after selling 29,715 shares during the quarter. Wakefield Asset Management LLLP’s holdings in Consolidated Edison were worth $419,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ED. Salomon & Ludwin LLC increased its holdings in Consolidated Edison by 270.4% in the third quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock worth $30,000 after buying an additional 219 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Consolidated Edison during the 3rd quarter worth $38,000. JFS Wealth Advisors LLC increased its stake 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 worth $41,000 after purchasing an additional 110 shares during the last quarter. True Wealth Design LLC raised its holdings in shares of Consolidated Edison by 392.1% during the 3rd quarter. True Wealth Design LLC now owns 497 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 396 shares in the last quarter. Finally, Webster Bank N. A. lifted its stake in shares of 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 purchasing an additional 200 shares during the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director John F. Killian sold 2,276 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was 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 $3,745,864.29. This trade represents a 5.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. TD Cowen upped their price objective on shares of Consolidated Edison from $105.00 to $112.00 and gave the stock a “hold” rating in a report on Tuesday, February 24th. Morgan Stanley reissued an “underweight” rating and set a $102.00 price objective on shares of Consolidated Edison in a report on Friday, February 20th. KeyCorp upped their target price on Consolidated Edison from $86.00 to $96.00 and gave the stock an “underweight” rating in a research report on Wednesday, March 4th. Mizuho set a $118.00 target price on shares of Consolidated Edison in a research report on Monday, February 23rd. Finally, Citigroup reaffirmed a “buy” rating on shares of Consolidated Edison in a research report on Monday, February 23rd. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Consolidated Edison has a consensus rating of “Reduce” and a consensus price target of $107.73.

Consolidated Edison Trading Down 0.4%

Shares of ED stock opened at $111.30 on Wednesday. Consolidated Edison Inc has a 1 year low of $94.96 and a 1 year high of $115.25. The firm’s fifty day simple moving average is $106.76 and its 200 day simple moving average is $101.64. The firm has a market capitalization of $40.21 billion, a P/E ratio of 19.70, a price-to-earnings-growth ratio of 3.00 and a beta of 0.38. 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 posted its quarterly earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.03. The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.71 billion. Consolidated Edison had a net margin of 11.95% and a return on equity of 8.50%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the business posted $0.98 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, sell-side analysts predict 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 will be paid on Monday, March 16th. Investors of record on Wednesday, February 18th will be paid a $0.8875 dividend. 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 is currently 62.83%.

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.