Wakefield Asset Management LLLP Reduces Stock Holdings in Consolidated Edison Inc $ED

Key Points

• Wakefield Asset Management cut its stake in Consolidated Edison by 87.7% in Q3, selling 29,715 shares and leaving 4,164 shares valued at $419,000.
• Consolidated Edison raised its quarterly dividend to $0.8875 (annualized $3.55) for a ~3.2% yield, and reported Q results with EPS of $0.89 (beating estimates) while setting FY2026 guidance of $6.00–$6.20 per share.
• Analysts hold a consensus Reduce rating with a $107.73 price target; the company has a $40.21 billion market cap, a PE of 19.7, and about 66.3% institutional ownership.

Wakefield Asset Management LLLP lowered its position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 87.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,164 shares of the utilities provider's stock after selling 29,715 shares during the period. Wakefield Asset Management LLLP's holdings in Consolidated Edison were worth $419,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ED. Vanguard Group Inc. boosted its holdings in shares of Consolidated Edison by 0.3% in the third quarter. Vanguard Group Inc. now owns 45,174,933 shares of the utilities provider's stock valued at $4,540,984,000 after acquiring an additional 134,122 shares in the last quarter. Geode Capital Management LLC increased its stake in Consolidated Edison by 6.1% in the 2nd quarter. Geode Capital Management LLC now owns 9,796,782 shares of the utilities provider's stock valued at $979,204,000 after purchasing an additional 566,358 shares in the last quarter. Norges Bank acquired a new position in shares of Consolidated Edison during the 2nd quarter worth $462,218,000. Legal & General Group Plc lifted its holdings in shares of Consolidated Edison by 1.2% in the third quarter. Legal & General Group Plc now owns 4,351,530 shares of the utilities provider's stock valued at $437,416,000 after purchasing an additional 52,061 shares in the last quarter. Finally, ATLAS Infrastructure Partners UK Ltd. lifted its stake in Consolidated Edison by 4.8% in the 2nd quarter. ATLAS Infrastructure Partners UK Ltd. now owns 2,409,288 shares of the utilities provider's stock valued at $241,772,000 after buying an additional 110,666 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

NYSE ED opened at $111.30 on Wednesday. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $115.25. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.02 and a quick ratio of 0.94. The company's 50 day simple moving average is $106.76 and its 200 day simple moving average is $101.64. The firm has a market capitalization of $40.21 billion, a PE ratio of 19.70, a P/E/G ratio of 3.00 and a beta of 0.38.

Consolidated Edison (NYSE:ED - Get Free Report) last released its earnings results on Thursday, February 19th. The utilities provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.86 by $0.03. The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.71 billion. Consolidated Edison had a net margin of 11.95% and a return on equity of 8.50%. The business's quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, equities research analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Wednesday, February 18th will be issued a dividend of $0.8875 per share. This is an increase from Consolidated Edison's previous quarterly dividend of $0.85. This represents a $3.55 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Wednesday, February 18th. Consolidated Edison's dividend payout ratio is 62.83%.

Insiders Place Their Bets

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of the company's stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $96.89, for a total value of $220,521.64. Following the transaction, the director owned 38,661 shares in the company, valued at approximately $3,745,864.29. This represents a 5.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. KeyCorp raised their target price on shares of Consolidated Edison from $86.00 to $96.00 and gave the stock an "underweight" rating in a research report on Wednesday, March 4th. JPMorgan Chase & Co. dropped their price objective on shares of Consolidated Edison from $101.00 to $97.00 and set an "underweight" rating for the company in a research report on Friday, December 12th. Royal Bank Of Canada reissued a "sector perform" rating and set a $118.00 price target on shares of Consolidated Edison in a research report on Friday, January 23rd. TD Cowen boosted their price objective on shares of Consolidated Edison from $105.00 to $112.00 and gave the stock a "hold" rating in a report on Tuesday, February 24th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Consolidated Edison in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $107.73.

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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