Consolidated Edison Inc $ED Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of Consolidated Edison Inc (NYSE:ED) by 13.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 337,953 shares of the utilities provider’s stock after selling 54,428 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Consolidated Edison were worth $33,565,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Meadowbrook Wealth Management LLC boosted its holdings in Consolidated Edison by 2.2% during the 4th quarter. Meadowbrook Wealth Management LLC now owns 4,687 shares of the utilities provider’s stock valued at $466,000 after acquiring an additional 100 shares during the period. Stephens Inc. AR boosted its holdings in Consolidated Edison by 0.8% during the 3rd quarter. Stephens Inc. AR now owns 13,791 shares of the utilities provider’s stock valued at $1,386,000 after acquiring an additional 105 shares during the period. Bridgewater Advisors Inc. boosted its holdings in Consolidated Edison by 1.6% during the 4th quarter. Bridgewater Advisors Inc. now owns 6,635 shares of the utilities provider’s stock valued at $689,000 after acquiring an additional 105 shares during the period. HighPoint Advisor Group LLC boosted its holdings in Consolidated Edison by 0.7% during the 3rd quarter. HighPoint Advisor Group LLC now owns 14,811 shares of the utilities provider’s stock valued at $1,489,000 after acquiring an additional 110 shares during the period. Finally, JFS Wealth Advisors LLC boosted its holdings in Consolidated Edison by 36.4% during the 3rd quarter. JFS Wealth Advisors LLC now owns 412 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 110 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $108.85 on Thursday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 1.02. Consolidated Edison Inc has a fifty-two week low of $94.96 and a fifty-two week high of $116.23. The firm has a market capitalization of $40.10 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 2.77 and a beta of 0.34. The stock’s 50-day simple moving average is $111.77 and its 200-day simple moving average is $105.01.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.03. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter last year, the company earned $0.98 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, equities research analysts forecast that Consolidated Edison Inc will post 6.08 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th will be given a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, May 13th. Consolidated Edison’s dividend payout ratio (DPR) is 62.83%.

Insider Buying and Selling at Consolidated Edison

In other news, SVP Deneen L. Donnley sold 1,922 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $113.94, for a total transaction of $218,992.68. Following the sale, the senior vice president owned 32,453 shares of the company’s stock, valued at approximately $3,697,694.82. This trade represents a 5.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ED shares. KeyCorp raised their target price on Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a report on Tuesday, April 21st. Morgan Stanley decreased their price objective on Consolidated Edison from $106.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. Bank of America reiterated an “underperform” rating and issued a $104.00 price objective on shares of Consolidated Edison in a research note on Wednesday, February 25th. TD Cowen lifted their price objective on Consolidated Edison from $105.00 to $112.00 and gave the company a “hold” rating in a research note on Tuesday, February 24th. Finally, Wells Fargo & Company set a $98.00 price objective on Consolidated Edison in a research note on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $108.50.

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.