Meiji Yasuda Asset Management Co Ltd. Takes Position in Consolidated Edison Inc $ED

Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of Consolidated Edison Inc (NYSE:ED) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 98,231 shares of the utilities provider’s stock, valued at approximately $10,867,000.

A number of other large investors have also recently made changes to their positions in the company. Basepoint Wealth LLC purchased a new position in Consolidated Edison in the fourth quarter worth approximately $26,000. JPL Wealth Management LLC purchased a new stake in shares of Consolidated Edison during the 3rd quarter worth $26,000. Sachetta LLC grew its stake in shares of Consolidated Edison by 72.9% during the first quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 102 shares in the last quarter. Keating Financial Advisory Services Inc. acquired a new position in shares of Consolidated Edison during the second quarter worth $30,000. Finally, Godfrey Financial Associates Inc. purchased a new position in Consolidated Edison in the fourth quarter valued at $32,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Evercore reaffirmed a “positive” rating and set a $112.00 price target on shares of Consolidated Edison in a report on Monday, August 17th. KeyCorp decreased their target price on Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating for the company in a research report on Thursday, July 23rd. The Goldman Sachs Group reiterated a “sell” rating and issued a $105.00 price objective on shares of Consolidated Edison in a research note on Thursday, May 14th. Morgan Stanley lowered their target price on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a research report on Friday. Finally, Mizuho set a $114.00 price target on shares of Consolidated Edison in a research note on Monday, July 27th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat, Consolidated Edison has a consensus rating of “Reduce” and an average target price of $108.93.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $106.52 on Monday. The stock has a fifty day moving average price of $109.96 and a 200 day moving average price of $109.91. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.23. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.27 and a quick ratio of 1.17. The company has a market cap of $39.39 billion, a PE ratio of 17.49, a P/E/G ratio of 2.76 and a beta of 0.27.

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 the consensus estimate of $0.76 by $0.07. The company 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 period in the previous year, the company posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Sell-side analysts forecast that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Dividend Announcement

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

About Consolidated Edison

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.