Mitsubishi UFJ Asset Management Co. Ltd. Acquires 40,838 Shares of Consolidated Edison Inc $ED

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 5.6% in the third quarter, Holdings Channel.com reports. The firm owned 776,533 shares of the utilities provider’s stock after purchasing an additional 40,838 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Consolidated Edison were worth $78,057,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Salomon & Ludwin LLC boosted its holdings in shares of Consolidated Edison by 270.4% in the third quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock valued at $30,000 after buying an additional 219 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Consolidated Edison in the 3rd quarter valued at $38,000. JFS Wealth Advisors LLC lifted its position in Consolidated Edison by 36.4% in the 3rd quarter. JFS Wealth Advisors LLC now owns 412 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 110 shares in the last quarter. True Wealth Design LLC boosted its stake in Consolidated Edison by 392.1% in the 3rd quarter. True Wealth Design LLC now owns 497 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 396 shares during the period. Finally, Webster Bank N. A. increased its holdings in Consolidated Edison by 67.8% during the 3rd quarter. Webster Bank N. A. now owns 495 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

ED has been the topic of several recent research reports. Scotiabank boosted their price target on Consolidated Edison from $113.00 to $117.00 and gave the company a “sector perform” rating in a report on Friday, February 20th. JPMorgan Chase & Co. decreased their price objective on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a report on Friday, December 12th. Citigroup reissued a “buy” rating on shares of Consolidated Edison in a research report on Monday. Morgan Stanley reaffirmed an “underweight” rating and set a $102.00 price target on shares of Consolidated Edison in a research report on Friday, February 20th. Finally, KeyCorp decreased their price target on shares of Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating for the company in a research note on Friday, December 12th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, Consolidated Edison presently has an average rating of “Reduce” and a consensus price target of $107.07.

Insiders Place Their Bets

In other news, Director John F. Killian sold 2,276 shares of the business’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 completion of the transaction, the director directly owned 38,661 shares in the company, valued at approximately $3,745,864.29. The trade was a 5.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Consolidated Edison Stock Up 1.6%

ED stock opened at $112.49 on Friday. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $115.25. The business’s 50 day simple moving average is $104.99 and its 200 day simple moving average is $101.16. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $40.64 billion, a PE ratio of 19.91, a PEG ratio of 2.96 and a beta of 0.38.

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

Consolidated Edison Increases Dividend

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

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.