Wellington Management Group LLP Sells 76,566 Shares of Consolidated Edison Inc $ED

Wellington Management Group LLP decreased its position in Consolidated Edison Inc (NYSE:ED) by 64.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,940 shares of the utilities provider’s stock after selling 76,566 shares during the quarter. Wellington Management Group LLP’s holdings in Consolidated Edison were worth $4,640,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Aberdeen Wealth Management LLC bought a new stake in shares of Consolidated Edison in the second quarter worth about $27,000. Sachetta LLC raised its position in Consolidated Edison by 72.9% during the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 102 shares during the last quarter. JPL Wealth Management LLC bought a new position in Consolidated Edison during the 3rd quarter valued at approximately $26,000. Basepoint Wealth LLC purchased a new stake in Consolidated Edison in the 4th quarter worth approximately $26,000. Finally, Keating Financial Advisory Services Inc. purchased a new stake in Consolidated Edison in the 2nd quarter worth approximately $30,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Price Performance

ED opened at $107.62 on Thursday. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 1.04. The company has a market cap of $39.80 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 3.75 and a beta of 0.27. The stock has a fifty day simple moving average of $109.56 and a two-hundred day simple moving average of $109.68. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $116.23.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The firm 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 previous year, the business posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Research analysts predict that Consolidated Edison Inc will post 6.1 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

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

Analysts Set New Price Targets

ED has been the subject of a number of research analyst reports. Barclays dropped their price target on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a research note on Friday, August 7th. Morgan Stanley decreased their price objective on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a report on Friday, August 21st. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $105.00 target price on shares of Consolidated Edison in a research report on Thursday, May 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Consolidated Edison in a research note on Tuesday, July 21st. Finally, Evercore reaffirmed a “positive” rating and set a $112.00 target price on shares of Consolidated Edison in a research note on Monday, August 17th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $108.93.

Consolidated Edison Company Profile

Consolidated Edison, Inc is an energy delivery holding company headquartered in New York. Through its principal subsidiary, Consolidated Edison Company of New York, Inc, the company provides electric, natural gas and steam service to customers in New York City and Westchester County, New York.

Con Edison also operates Orange and Rockland Utilities, Inc, which supplies electric and natural gas service in parts of southeastern New York and northern New Jersey. Its utility operations include the generation, transmission and distribution of energy, as well as the maintenance of the infrastructure required to serve residential, commercial and industrial customers.

The company traces its roots to energy businesses that began operating in New York during the 19th century and adopted the Consolidated Edison name in the 1930s.