Consolidated Edison Inc $ED Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 9.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 735,695 shares of the utilities provider’s stock after buying an additional 63,017 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.20% of Consolidated Edison worth $73,827,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Consolidated Edison by 1.6% in the first quarter. Vanguard Group Inc. now owns 43,117,094 shares of the utilities provider’s stock worth $4,768,319,000 after acquiring an additional 661,432 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Consolidated Edison by 1.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,868,772 shares of the utilities provider’s stock valued at $538,437,000 after acquiring an additional 48,323 shares during the period. Deutsche Bank AG lifted its stake in shares of Consolidated Edison by 130.6% in the 1st quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider’s stock valued at $434,266,000 after purchasing an additional 2,223,959 shares in the last quarter. JPMorgan Chase & Co. increased its position in Consolidated Edison by 106.9% during the 1st quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider’s stock worth $308,643,000 after purchasing an additional 1,441,785 shares in the last quarter. Finally, ATLAS Infrastructure Partners UK Ltd. purchased a new stake in Consolidated Edison during the first quarter worth approximately $254,205,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Mizuho boosted their price objective on Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Wells Fargo & Company upgraded Consolidated Edison to a “hold” rating in a research note on Tuesday, October 28th. Evercore ISI initiated coverage on Consolidated Edison in a research note on Tuesday, October 7th. They set an “in-line” rating and a $106.00 target price for the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Consolidated Edison in a report on Wednesday. Finally, Barclays cut their price objective on Consolidated Edison from $107.00 to $105.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 21st. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $105.08.

Consolidated Edison Stock Performance

ED opened at $98.43 on Monday. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The stock has a market cap of $35.50 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 2.70 and a beta of 0.32. The business’s 50 day moving average is $98.74 and its 200-day moving average is $101.51.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.14. The business had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.22 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same period in the previous year, the business earned $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be given a dividend of $0.85 per share. The ex-dividend date is Wednesday, November 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.5%. Consolidated Edison’s dividend payout ratio (DPR) is 59.44%.

Consolidated Edison Profile

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.