Northwestern Mutual Wealth Management Co. Purchases Shares of 20,495 Consolidated Edison Inc $ED

Northwestern Mutual Wealth Management Co. bought a new position in Consolidated Edison Inc (NYSE:ED) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,495 shares of the utilities provider’s stock, valued at approximately $2,267,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Revolve Wealth Partners LLC boosted its holdings in Consolidated Edison by 13.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after buying an additional 441 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Consolidated Edison by 42.1% in the first quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock worth $993,000 after acquiring an additional 2,659 shares during the last quarter. Woodline Partners LP increased its position in shares of Consolidated Edison by 40.7% during the first quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock worth $3,237,000 after purchasing an additional 8,468 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Consolidated Edison in the 2nd quarter valued at $3,256,000. Finally, Baird Financial Group Inc. lifted its holdings in Consolidated Edison by 2.1% in the 2nd quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider’s stock valued at $1,473,000 after purchasing an additional 296 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ED has been the subject of a number of research reports. Barclays dropped their target price on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a report on Friday, August 7th. Mizuho set a $114.00 price target on shares of Consolidated Edison in a research report on Monday, July 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Consolidated Edison in a report on Tuesday, July 21st. Argus set a $112.00 target price on shares of Consolidated Edison in a research note on Tuesday, June 23rd. Finally, Morgan Stanley lowered their target price on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a report on Friday. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $108.93.

Consolidated Edison Stock Up 1.3%

NYSE:ED opened at $107.73 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 1.04. The stock’s fifty day moving average is $109.96 and its two-hundred day moving average is $109.92. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $116.23. The stock has a market capitalization of $39.84 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 2.76 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. The business had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $3.60 billion. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. During the same quarter in the prior year, the company earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Research analysts anticipate that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Wednesday, August 19th will be paid a $0.8875 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $3.55 dividend on an annualized basis and a yield of 3.3%. Consolidated Edison’s dividend payout ratio (DPR) is currently 58.29%.

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.