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

Key Points

• M3 Wealth Management opened a new position in Consolidated Edison, buying 13,896 shares valued at about $1.38 million. The stake makes up roughly 1.1% of the firm’s portfolio and is its 24th largest holding.
• Consolidated Edison reported Q1 earnings of $2.18 per share, missing estimates of $2.28, on revenue of $5.10 billion versus expectations of $5.22 billion. The company also reaffirmed FY 2026 guidance of $6.00 to $6.20 EPS.
• The utility declared a quarterly dividend of $0.8875 per share, equal to an annualized yield of about 3.3%. Meanwhile, analysts remain cautious, with a consensus rating of “Reduce” and a price target of $108.71.

M3 Wealth Management LLC bought a new stake in Consolidated Edison Inc (NYSE:ED - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 13,896 shares of the utilities provider's stock, valued at approximately $1,380,000. Consolidated Edison accounts for about 1.1% of M3 Wealth Management LLC's holdings, making the stock its 24th largest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Integrity Alliance LLC. increased its stake in shares of Consolidated Edison by 42.9% in the 4th quarter. Integrity Alliance LLC. now owns 13,120 shares of the utilities provider's stock valued at $1,303,000 after buying an additional 3,937 shares during the period. Bleakley Financial Group LLC increased its stake in shares of Consolidated Edison by 3.3% in the 4th quarter. Bleakley Financial Group LLC now owns 21,820 shares of the utilities provider's stock valued at $2,167,000 after buying an additional 694 shares during the period. Cary Street Partners Financial LLC increased its stake in shares of Consolidated Edison by 3.7% in the 4th quarter. Cary Street Partners Financial LLC now owns 24,625 shares of the utilities provider's stock valued at $2,446,000 after buying an additional 876 shares during the period. Harbour Investments Inc. increased its stake in shares of Consolidated Edison by 5.2% in the 4th quarter. Harbour Investments Inc. now owns 3,409 shares of the utilities provider's stock valued at $339,000 after buying an additional 167 shares during the period. Finally, Allstate Corp grew its stake in shares of Consolidated Edison by 102.1% during the fourth quarter. Allstate Corp now owns 26,584 shares of the utilities provider's stock worth $2,640,000 after purchasing an additional 13,428 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $107.86 on Wednesday. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23. The firm has a market cap of $39.75 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 2.76 and a beta of 0.29. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.19 and a quick ratio of 1.09. The stock's 50-day moving average is $110.23 and its 200-day moving average is $105.96.

Consolidated Edison (NYSE:ED - Get Free Report) last released its earnings results on Thursday, May 7th. The utilities provider reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.10). Consolidated Edison had a return on equity of 8.33% and a net margin of 12.52%.The company had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the previous year, the company posted $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities analysts predict that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th will be given a $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. Consolidated Edison's dividend payout ratio is presently 59.76%.

Analysts Set New Price Targets

ED has been the subject of a number of analyst reports. Barclays decreased their price objective 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. Bank of America reaffirmed an "underperform" rating and set a $104.00 price objective on shares of Consolidated Edison in a research note on Wednesday, February 25th. JPMorgan Chase & Co. lifted their price objective on Consolidated Edison from $107.00 to $113.00 and gave the stock an "underweight" rating in a research note on Thursday, March 12th. The Goldman Sachs Group reaffirmed a "sell" rating and set a $105.00 price objective on shares of Consolidated Edison in a research note on Thursday, May 14th. Finally, KeyCorp lifted their price objective on Consolidated Edison from $96.00 to $97.00 and gave the stock an "underweight" rating in a research note on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and six have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of $108.71.

Insider Activity at Consolidated Edison

In related news, SVP Deneen L. Donnley sold 1,922 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was 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. This represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.15% of the company's stock.

Consolidated Edison 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.

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