Sumitomo Mitsui Trust Group Inc. Decreases Stake in Consolidated Edison Inc $ED

Sumitomo Mitsui Trust Group Inc. lessened its stake in Consolidated Edison Inc (NYSE:ED) by 4.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 986,144 shares of the utilities provider’s stock after selling 42,542 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Consolidated Edison were worth $97,944,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Meadowbrook Wealth Management LLC boosted its stake in shares of Consolidated Edison by 2.2% in the 4th quarter. Meadowbrook Wealth Management LLC now owns 4,687 shares of the utilities provider’s stock valued at $466,000 after buying an additional 100 shares during the period. Stephens Inc. AR boosted its stake in shares of Consolidated Edison by 0.8% in the 3rd quarter. Stephens Inc. AR now owns 13,791 shares of the utilities provider’s stock valued at $1,386,000 after buying an additional 105 shares during the period. Bridgewater Advisors Inc. grew its stake in shares of Consolidated Edison by 1.7% during the third quarter. Bridgewater Advisors Inc. now owns 6,530 shares of the utilities provider’s stock worth $618,000 after purchasing an additional 107 shares in the last quarter. HighPoint Advisor Group LLC grew its stake in shares of Consolidated Edison by 0.7% during the third quarter. HighPoint Advisor Group LLC now owns 14,811 shares of the utilities provider’s stock worth $1,489,000 after purchasing an additional 110 shares in the last quarter. Finally, JFS Wealth Advisors LLC increased its holdings in Consolidated Edison by 36.4% in the third quarter. JFS Wealth Advisors LLC now owns 412 shares of the utilities provider’s stock valued at $41,000 after buying an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

NYSE:ED opened at $111.85 on Tuesday. The firm has a market capitalization of $41.21 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 2.89 and a beta of 0.34. The business’s fifty day moving average price is $111.88 and its 200 day moving average price is $104.22. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.02 and a quick ratio of 0.94. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $116.23.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data 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 net margin of 11.95% and a return on equity of 8.50%. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Consolidated Edison’s revenue for the quarter was up 8.9% on a year-over-year basis. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, sell-side analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

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

Insider Transactions at Consolidated Edison

In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $113.94, for a total value of $218,992.68. Following the completion of the transaction, the senior vice president owned 32,453 shares in the company, valued at $3,697,694.82. This represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on ED shares. UBS Group increased their target price on Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Royal Bank Of Canada reissued a “sector perform” rating and issued a $118.00 target price on shares of Consolidated Edison in a report on Friday, January 23rd. Morgan Stanley reissued an “underweight” rating and issued a $102.00 target price on shares of Consolidated Edison in a report on Friday, February 20th. Mizuho set a $118.00 target price on Consolidated Edison in a report on Monday, February 23rd. Finally, Bank of America reissued an “underperform” rating and issued a $104.00 target price on shares of Consolidated Edison in a report on Wednesday, February 25th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $108.00.

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.