Consolidated Edison, Inc. (NYSE:ED) Shares Purchased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. lifted its stake in Consolidated Edison, Inc. (NYSE:ED) by 4.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,789 shares of the utilities provider’s stock after purchasing an additional 688 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Consolidated Edison were worth $1,060,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lazard Asset Management LLC raised its position in Consolidated Edison by 47.1% during the first quarter. Lazard Asset Management LLC now owns 9,199,814 shares of the utilities provider’s stock worth $688,145,000 after acquiring an additional 2,946,774 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Consolidated Edison by 253.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,075,987 shares of the utilities provider’s stock worth $155,284,000 after acquiring an additional 1,489,003 shares during the last quarter. OLD Republic International Corp raised its position in Consolidated Edison by 92.8% during the second quarter. OLD Republic International Corp now owns 895,286 shares of the utilities provider’s stock worth $64,210,000 after acquiring an additional 431,000 shares during the last quarter. JPMorgan Chase & Co. raised its position in Consolidated Edison by 34.8% during the first quarter. JPMorgan Chase & Co. now owns 1,488,373 shares of the utilities provider’s stock worth $111,329,000 after acquiring an additional 383,954 shares during the last quarter. Finally, Citigroup Inc. raised its position in Consolidated Edison by 73.2% during the second quarter. Citigroup Inc. now owns 644,618 shares of the utilities provider’s stock worth $46,233,000 after acquiring an additional 272,333 shares during the last quarter. Hedge funds and other institutional investors own 60.91% of the company’s stock.

ED opened at $76.05 on Thursday. The stock has a market capitalization of $26.87 billion, a PE ratio of 23.05, a P/E/G ratio of 8.87 and a beta of 0.17. The firm’s fifty day moving average price is $75.00 and its 200 day moving average price is $75.56. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.92 and a quick ratio of 0.85. Consolidated Edison, Inc. has a 12-month low of $65.56 and a 12-month high of $83.92.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, August 5th. The utilities provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.09). The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.82 billion. Consolidated Edison had a net margin of 8.65% and a return on equity of 7.39%. On average, equities research analysts forecast that Consolidated Edison, Inc. will post 4.21 earnings per share for the current fiscal year.

A number of equities analysts have issued reports on ED shares. TheStreet cut shares of Consolidated Edison from a “b” rating to a “c+” rating in a research report on Tuesday, September 7th. Mizuho lowered their price target on shares of Consolidated Edison from $78.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, October 7th. Morgan Stanley lowered their price target on shares of Consolidated Edison from $76.00 to $74.00 and set an “underweight” rating for the company in a report on Friday, September 17th. Finally, KeyCorp downgraded shares of Consolidated Edison from a “sector weight” rating to an “underweight” rating and set a $66.00 price target for the company. in a report on Tuesday, July 20th. Six analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Sell” and an average target price of $75.13.

About Consolidated Edison

Consolidated Edison, Inc operates as holding company, which through its subsidiaries engages in the business of regulated electric, gas, and steam delivery. It operates through the following segments: Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc and Con Edison Transmission, Inc.

Recommended Story: History of the Euro STOXX 50 Index

Want to see what other hedge funds are holding ED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Consolidated Edison, Inc. (NYSE:ED).

Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

Receive News & Ratings for Consolidated Edison Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Edison and related companies with MarketBeat.com's FREE daily email newsletter.