Mitsubishi UFJ Asset Management Co. Ltd. Purchases Shares of 957,468 Consolidated Edison Inc $ED

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Consolidated Edison Inc (NYSE:ED) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 957,468 shares of the utilities provider’s stock, valued at approximately $105,925,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Revolve Wealth Partners LLC increased its holdings in Consolidated Edison by 13.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock valued at $332,000 after buying an additional 441 shares during the period. Empowered Funds LLC lifted its holdings in shares of Consolidated Edison by 42.1% during the 1st quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock worth $993,000 after acquiring an additional 2,659 shares during the period. Woodline Partners LP boosted its position in shares of Consolidated Edison by 40.7% during the 1st quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock valued at $3,237,000 after acquiring an additional 8,468 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Consolidated Edison during the 2nd quarter valued at about $3,256,000. Finally, Baird Financial Group Inc. increased its stake in Consolidated Edison by 2.1% in the second quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider’s stock valued at $1,473,000 after acquiring an additional 296 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ED has been the subject of several recent research reports. Mizuho set a $114.00 price target on shares of Consolidated Edison in a research report on Monday, July 27th. Wells Fargo & Company upped their price objective on Consolidated Edison from $106.00 to $108.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Consolidated Edison in a report on Tuesday, July 21st. Argus set a $112.00 target price on Consolidated Edison in a report on Tuesday, June 23rd. Finally, Barclays cut their target price on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a research report on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $108.80.

Consolidated Edison Stock Performance

Consolidated Edison stock opened at $109.13 on Wednesday. The stock has a 50-day simple moving average of $109.95 and a 200 day simple moving average of $109.88. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $116.23. The stock has a market capitalization of $40.36 billion, a price-to-earnings ratio of 17.92, a P/E/G ratio of 2.83 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping 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 net margin of 12.53% and a return on equity of 8.44%. During the same period in the prior year, the business earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, research analysts anticipate 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. Investors of record on Wednesday, August 19th will be issued a dividend of $0.8875 per share. The ex-dividend date is Wednesday, August 19th. This represents a $3.55 dividend on an annualized basis and a yield of 3.3%. Consolidated Edison’s payout ratio is currently 58.29%.

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.