Sumitomo Mitsui Trust Group Inc. Has $103.40 Million Holdings in Consolidated Edison Inc $ED

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Consolidated Edison Inc (NYSE:ED) by 3.0% during the third quarter, HoldingsChannel.com reports. The fund owned 1,028,686 shares of the utilities provider’s stock after purchasing an additional 29,606 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Consolidated Edison were worth $103,404,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ED. Golden State Wealth Management LLC boosted its position in Consolidated Edison by 13.6% during the second quarter. Golden State Wealth Management LLC now owns 837 shares of the utilities provider’s stock worth $84,000 after purchasing an additional 100 shares during the period. Certuity LLC increased its stake in shares of Consolidated Edison by 2.7% in the second quarter. Certuity LLC now owns 3,743 shares of the utilities provider’s stock worth $376,000 after purchasing an additional 100 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of Consolidated Edison by 1.0% during the 2nd quarter. Exchange Traded Concepts LLC now owns 11,050 shares of the utilities provider’s stock worth $1,109,000 after purchasing an additional 109 shares during the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of Consolidated Edison by 53.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 109 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Consolidated Edison by 1.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 8,896 shares of the utilities provider’s stock valued at $893,000 after purchasing an additional 110 shares during the period. 66.29% of the stock is owned by institutional investors.

Insider Transactions at Consolidated Edison

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $96.89, for a total transaction of $220,521.64. Following the completion of the transaction, the director owned 38,661 shares in the company, valued at $3,745,864.29. This trade represents a 5.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is owned by company insiders.

Consolidated Edison Stock Performance

Shares of NYSE ED opened at $100.10 on Wednesday. The firm has a market capitalization of $36.13 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 2.70 and a beta of 0.39. Consolidated Edison Inc has a one year low of $88.26 and a one year high of $114.87. The business has a fifty day simple moving average of $98.96 and a 200 day simple moving average of $99.76. The company has a current ratio of 1.08, a quick ratio of 0.97 and a debt-to-equity ratio of 1.03.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.14. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.79%. The firm had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the previous year, the firm posted $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Sell-side analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Wednesday, November 19th were paid a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.4%. Consolidated Edison’s payout ratio is presently 59.44%.

Analyst Upgrades and Downgrades

ED has been the topic of several recent analyst reports. UBS Group lifted their price target on Consolidated Edison from $104.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. Morgan Stanley set a $92.00 price objective on Consolidated Edison in a research report on Tuesday, December 16th. Barclays dropped 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 Monday, November 10th. Royal Bank Of Canada assumed coverage on shares of Consolidated Edison in a research note on Wednesday, January 7th. They set a “sector perform” rating and a $114.00 target price for the company. Finally, New Street Research set a $106.00 price target on shares of Consolidated Edison in a report on Monday, October 6th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $103.53.

Consolidated Edison Company 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.