Daiichi Life Insurance Co. Ltd. Acquires New Shares in Consolidated Edison Inc $ED

Daiichi Life Insurance Co. Ltd. acquired a new position in shares of Consolidated Edison Inc (NYSE:ED) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 70,775 shares of the utilities provider’s stock, valued at approximately $7,830,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Basepoint Wealth LLC bought a new position in Consolidated Edison in the fourth quarter valued at about $26,000. JPL Wealth Management LLC bought a new stake in shares of Consolidated Edison during the third quarter worth about $26,000. Sachetta LLC grew its holdings 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 during the last quarter. Keating Financial Advisory Services Inc. acquired a new position in shares of Consolidated Edison in the second quarter valued at approximately $30,000. Finally, Godfrey Financial Associates Inc. acquired a new position in shares of Consolidated Edison in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of ED opened at $106.52 on Friday. 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 capitalization of $39.39 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 2.76 and a beta of 0.27. The business has a 50-day moving average of $109.96 and a 200-day moving average of $109.88.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same period in the previous year, the firm earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, equities research analysts anticipate that Consolidated Edison Inc will post 6.09 earnings per share 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 given a $0.8875 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.3%. Consolidated Edison’s payout ratio is 58.29%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ED. Barclays dropped their price objective on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a report on Friday, August 7th. 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 report on Friday. Wells Fargo & Company upped their price target on shares of Consolidated Edison from $106.00 to $108.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Consolidated Edison in a research note on Tuesday, July 21st. Finally, Argus set a $112.00 price target on shares of Consolidated Edison in a report on Tuesday, June 23rd. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Consolidated Edison currently has a consensus rating of “Reduce” and a consensus price target of $108.93.

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.