Northwestern Mutual Wealth Management Co. Reduces Stock Position in Consolidated Edison Inc $ED

Northwestern Mutual Wealth Management Co. cut its holdings in Consolidated Edison Inc (NYSE:ED) by 22.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,876 shares of the utilities provider’s stock after selling 4,656 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Consolidated Edison were worth $1,577,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its stake in Consolidated Edison by 13.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,819 shares of the utilities provider’s stock worth $7,320,000 after acquiring an additional 8,562 shares during the last quarter. Nuance Investments LLC purchased a new position in shares of Consolidated Edison in the 3rd quarter worth approximately $4,017,000. Bryce Point Capital LLC bought a new position in Consolidated Edison during the third quarter valued at $556,000. Caprock Group LLC bought a new position in Consolidated Edison during the third quarter valued at $2,586,000. Finally, IFP Advisors Inc raised its stake in shares of Consolidated Edison by 194.5% in the third quarter. IFP Advisors Inc now owns 15,208 shares of the utilities provider’s stock valued at $1,559,000 after acquiring an additional 10,044 shares during the period. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on ED shares. JPMorgan Chase & Co. lifted their price target on shares of 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 shares of Consolidated Edison in a research note on Monday, February 23rd. Evercore set a $116.00 price objective on shares of Consolidated Edison in a research note on Monday, May 11th. Weiss Ratings raised shares of Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Finally, KeyCorp upped their target price on Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a research note on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, Consolidated Edison presently has a consensus rating of “Reduce” and an average target price of $108.71.

Insider Buying and Selling

In related news, SVP Deneen L. Donnley sold 1,922 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $3,697,694.82. This trade represents a 5.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.15% of the stock is owned by corporate insiders.

Consolidated Edison Trading Up 0.5%

ED stock opened at $108.22 on Thursday. The company has a market capitalization of $39.88 billion, a PE ratio of 18.22, a P/E/G ratio of 2.73 and a beta of 0.29. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $116.23. The firm’s 50-day moving average is $110.09 and its 200 day moving average is $106.04. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.19 and a quick ratio of 1.09.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, May 7th. The utilities provider reported $2.18 EPS for the quarter, missing the consensus estimate of $2.28 by ($0.10). The company had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Consolidated Edison had a return on equity of 8.33% and a net margin of 12.52%.During the same period in the prior year, the business earned $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, research analysts anticipate that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Wednesday, May 13th will be paid a $0.8875 dividend. This represents a $3.55 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, May 13th. Consolidated Edison’s dividend payout ratio (DPR) is currently 59.76%.

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.