UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $536.30 Million Stock Position in Consolidated Edison Inc $ED

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Consolidated Edison Inc (NYSE:ED) by 7.9% in the second quarter, HoldingsChannel reports. The firm owned 4,847,672 shares of the utilities provider’s stock after purchasing an additional 353,000 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Consolidated Edison were worth $536,298,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. QRG Capital Management Inc. raised its stake in Consolidated Edison by 16.9% during the 1st quarter. QRG Capital Management Inc. now owns 204,989 shares of the utilities provider’s stock worth $23,201,000 after buying an additional 29,635 shares during the period. North Dakota State Investment Board bought a new position in Consolidated Edison in the fourth quarter worth approximately $1,228,000. Los Angeles Capital Management LLC grew its stake in Consolidated Edison by 9.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 253,230 shares of the utilities provider’s stock valued at $24,865,000 after acquiring an additional 20,972 shares during the period. M3 Wealth Management LLC acquired a new stake in Consolidated Edison in the fourth quarter valued at approximately $1,380,000. Finally, Arbejdsmarkedets Tillaegspension bought a new stake in shares of Consolidated Edison during the fourth quarter valued at approximately $24,109,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. KeyCorp lowered their target price on Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating on the stock in a research report on Thursday, July 23rd. Argus set a $112.00 price target on shares of Consolidated Edison in a research report on Tuesday, June 23rd. Morgan Stanley decreased their price target on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a research note on Friday, August 21st. Barclays lowered their price objective on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a report on Friday, August 7th. Finally, Wells Fargo & Company raised their price objective on shares of Consolidated Edison from $106.00 to $108.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $108.93.

Consolidated Edison Stock Performance

Shares of ED opened at $107.40 on Monday. The firm has a market capitalization of $39.72 billion, a P/E ratio of 17.64, a P/E/G ratio of 2.73 and a beta of 0.27. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $116.23. The stock has a 50 day moving average price of $109.99 and a two-hundred day moving average price of $109.90. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.17 and a current ratio of 1.27.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.60 billion. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.During the same quarter last year, the company earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities analysts forecast that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

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