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

Wellington Management Group LLP trimmed its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 64.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. GW&K Investment Management LLC grew its holdings in shares of Consolidated Edison by 28.5% during the fourth quarter. GW&K Investment Management LLC now owns 419 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 93 shares in the last quarter. bLong Financial LLC raised its stake in Consolidated Edison by 1.3% in the fourth quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider’s stock valued at $772,000 after purchasing an additional 100 shares in the last quarter. Sachetta LLC lifted its position in Consolidated Edison by 72.9% during the first 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. Frank Rimerman Advisors LLC lifted its position in Consolidated Edison by 1.3% during the first quarter. Frank Rimerman Advisors LLC now owns 8,275 shares of the utilities provider’s stock valued at $937,000 after purchasing an additional 105 shares during the last quarter. Finally, Venture Visionary Partners LLC lifted its position in Consolidated Edison by 2.0% during the fourth quarter. Venture Visionary Partners LLC now owns 5,606 shares of the utilities provider’s stock valued at $557,000 after purchasing an additional 108 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Performance

Consolidated Edison stock opened at $107.62 on Thursday. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $39.80 billion, a PE ratio of 17.67, a P/E/G ratio of 3.75 and a beta of 0.27. The firm 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 twelve month low of $94.96 and a twelve month high of $116.23.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.The firm had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $3.60 billion. During the same period last year, the firm earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Research analysts expect that Consolidated Edison Inc will post 6.1 EPS for the current year.

Consolidated Edison Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ED shares. Mizuho set a $114.00 price target on shares of Consolidated Edison in a report on Monday, July 27th. Wells Fargo & Company upped their target price on shares of Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. The Goldman Sachs Group reissued a “sell” rating and issued a $105.00 target price on shares of Consolidated Edison in a research note on Thursday, May 14th. Morgan Stanley lowered their price target on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a research report on Friday, August 21st. Finally, 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. Three equities 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’s stock. According to data from MarketBeat.com, Consolidated Edison presently has an average rating of “Reduce” and a consensus price target of $108.93.

About Consolidated Edison

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.