M3 Wealth Management LLC Takes $1.38 Million Position in Consolidated Edison Inc $ED

M3 Wealth Management LLC purchased a new stake in shares of Consolidated Edison Inc (NYSE:ED) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 13,896 shares of the utilities provider’s stock, valued at approximately $1,380,000. Consolidated Edison comprises 1.1% of M3 Wealth Management LLC’s investment portfolio, making the stock its 24th largest position.

Other hedge funds have also added to or reduced their stakes in the company. JPL Wealth Management LLC acquired a new position in Consolidated Edison during the 3rd quarter valued at about $26,000. Aventura Private Wealth LLC acquired a new position in Consolidated Edison during the 4th quarter valued at about $27,000. Westfuller Advisors LLC acquired a new position in Consolidated Edison during the 4th quarter valued at about $27,000. Dorato Capital Management acquired a new position in Consolidated Edison during the 4th quarter valued at about $28,000. Finally, WealthCollab LLC boosted its stake in Consolidated Edison by 68.4% during the 4th quarter. WealthCollab LLC now owns 315 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 128 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analysts Set New Price Targets

ED has been the subject of a number of analyst reports. Barclays cut their price target on Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating for the company in a research note on Monday, May 11th. KeyCorp lifted their target price on shares of Consolidated Edison from $96.00 to $97.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 21st. Scotiabank lifted their target price on shares of Consolidated Edison from $113.00 to $117.00 and gave the stock a “sector perform” rating in a research report on Friday, February 20th. Weiss Ratings raised shares of Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Finally, Wells Fargo & Company set a $98.00 target price on shares of Consolidated Edison in a research report on Tuesday, April 21st. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $108.71.

Consolidated Edison Price Performance

Consolidated Edison stock opened at $107.86 on Wednesday. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $116.23. The company’s 50 day moving average price is $110.23 and its two-hundred day moving average price is $105.96. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00. The stock has a market cap of $39.75 billion, a P/E ratio of 18.16, a P/E/G ratio of 2.76 and a beta of 0.29.

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 analysts’ consensus estimates of $2.28 by ($0.10). The company had revenue of $5.10 billion during the quarter, compared to the consensus estimate 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 last year, the firm posted $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, equities analysts predict that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th will be issued a dividend of $0.8875 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $3.55 dividend on an annualized basis and a yield of 3.3%. Consolidated Edison’s payout ratio is presently 59.76%.

Insider Transactions at Consolidated Edison

In other Consolidated Edison 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 transaction of $218,992.68. Following the sale, the senior vice president owned 32,453 shares of the company’s stock, valued at $3,697,694.82. The trade was a 5.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.15% of the stock is owned by insiders.

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.