Mitsubishi UFJ Asset Management Co. Ltd. Purchases 40,838 Shares of Consolidated Edison Inc $ED

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Consolidated Edison Inc (NYSE:ED) by 5.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 776,533 shares of the utilities provider’s stock after buying an additional 40,838 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.22% of Consolidated Edison worth $78,057,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Consolidated Edison by 13.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,819 shares of the utilities provider’s stock valued at $7,320,000 after purchasing an additional 8,562 shares in the last quarter. Bryce Point Capital LLC acquired a new stake in Consolidated Edison in the 3rd quarter valued at $556,000. Sumitomo Mitsui Trust Group Inc. grew its position in Consolidated Edison by 3.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,028,686 shares of the utilities provider’s stock valued at $103,404,000 after acquiring an additional 29,606 shares during the period. Nuance Investments LLC acquired a new position in Consolidated Edison during the third quarter worth $4,017,000. Finally, Atlantic Union Bankshares Corp lifted its holdings in shares of Consolidated Edison by 46.7% during the second quarter. Atlantic Union Bankshares Corp now owns 3,714 shares of the utilities provider’s stock valued at $373,000 after acquiring an additional 1,183 shares during the period. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $96.89, for a total value of $220,521.64. Following the completion of the transaction, the director directly owned 38,661 shares of the company’s stock, valued at approximately $3,745,864.29. The trade was a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Consolidated Edison Stock Up 1.6%

Consolidated Edison stock opened at $112.49 on Friday. The firm has a market capitalization of $40.64 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 2.96 and a beta of 0.38. The company’s 50 day simple moving average is $104.99 and its 200 day simple moving average is $101.16. 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 fifty-two week low of $94.96 and a fifty-two week high of $115.25.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, February 19th. The utilities provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.86 by $0.03. The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.71 billion. Consolidated Edison had a net margin of 11.95% and a return on equity of 8.50%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, sell-side analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Wednesday, February 18th will be paid a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, February 18th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.85. Consolidated Edison’s dividend payout ratio (DPR) is 62.83%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Scotiabank upped their target price on shares of Consolidated Edison from $113.00 to $117.00 and gave the stock a “sector perform” rating in a report on Friday, February 20th. UBS Group upped their price objective on shares of Consolidated Edison from $108.00 to $112.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. KeyCorp dropped their price objective on shares of Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating for the company in a report on Friday, December 12th. Bank of America reiterated an “underperform” rating and issued a $104.00 target price on shares of Consolidated Edison in a research note on Wednesday. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $118.00 price target on shares of Consolidated Edison in a research report on Friday, January 23rd. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, Consolidated Edison currently has an average rating of “Reduce” and a consensus price target of $107.07.

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.