Consolidated Edison Inc $ED Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 2.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 960,882 shares of the utilities provider’s stock after selling 26,888 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.26% of Consolidated Edison worth $98,212,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ED. BlackRock Inc. acquired a new position in Consolidated Edison in the second quarter valued at approximately $4,609,491,000. Lazard Asset Management LLC grew its holdings in shares of Consolidated Edison by 14.8% during the first quarter. Lazard Asset Management LLC now owns 7,075,838 shares of the utilities provider’s stock valued at $800,843,000 after purchasing an additional 910,244 shares during the last quarter. Deutsche Bank AG bought a new position in shares of Consolidated Edison during the second quarter valued at approximately $749,184,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Consolidated Edison by 7.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,847,672 shares of the utilities provider’s stock worth $536,298,000 after purchasing an additional 353,000 shares during the period. Finally, Legal & General Group Plc acquired a new stake in shares of Consolidated Edison during the 2nd quarter worth approximately $494,352,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of ED stock opened at $118.61 on Tuesday. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $118.79. The firm has a market capitalization of $43.86 billion, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 3.95 and a beta of 0.26. The business has a 50 day simple moving average of $107.97 and a 200 day simple moving average of $109.02. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.27 and a quick ratio of 1.17.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.76 by $0.07. The firm had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $3.60 billion. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%. During the same period last year, the firm earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, equities research analysts anticipate that Consolidated Edison Inc will post 6.10 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Wednesday, November 18th will be issued a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, November 18th. Consolidated Edison’s dividend payout ratio (DPR) is 58.29%.

Analysts Set New Price Targets

ED has been the topic of several recent research reports. Bank of America cut their price target on Consolidated Edison from $105.00 to $96.00 in a report on Friday, October 2nd. Jefferies Financial Group restated a “hold” rating and set a $105.00 price objective (down from $121.00) on shares of Consolidated Edison in a research report on Tuesday, October 6th. Mizuho set a $108.00 price objective on Consolidated Edison in a research note on Wednesday, October 7th. LADENBURG THALM/SH SH increased their target price on Consolidated Edison from $101.00 to $113.50 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Finally, UBS Group raised their target price on Consolidated Edison from $118.00 to $124.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat.com, Consolidated Edison currently has an average rating of “Reduce” and a consensus price target of $108.09.

Consolidated Edison Company Profile

Consolidated Edison, Inc is a diversified energy company headquartered in New York City. Through its regulated utility subsidiaries, the company delivers electricity, natural gas and steam to residential, commercial and industrial customers.

Its principal subsidiary, Consolidated Edison Company of New York, provides electric service throughout New York City and Westchester County, along with gas service in Manhattan, the Bronx, parts of Queens and Westchester County, and steam service in parts of Manhattan.