Consolidated Edison Inc $ED Shares Acquired by Meiji Yasuda Asset Management Co Ltd.

Key Points

• Meiji Yasuda Asset Management Co Ltd significantly increased its stake in Consolidated Edison by 573.5% during the first quarter, now holding 122,671 shares valued at approximately $13.57 million.
• Consolidated Edison announced a quarterly dividend of $0.85, reflecting a 3.5% yield and a payout ratio of 61.71%, with payment scheduled for September 15th.
• Recent analyst ratings on Consolidated Edison show mixed expectations, with an average price target of $105.82 and ratings ranging from Buy to Sell across ten analysts.

Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 573.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,671 shares of the utilities provider's stock after acquiring an additional 104,456 shares during the period. Meiji Yasuda Asset Management Co Ltd.'s holdings in Consolidated Edison were worth $13,566,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Glen Eagle Advisors LLC lifted its position in Consolidated Edison by 6.2% during the 4th quarter. Glen Eagle Advisors LLC now owns 1,902 shares of the utilities provider's stock worth $170,000 after acquiring an additional 111 shares during the period. Western Wealth Management LLC lifted its position in Consolidated Edison by 0.7% during the 1st quarter. Western Wealth Management LLC now owns 16,101 shares of the utilities provider's stock worth $1,781,000 after acquiring an additional 116 shares during the period. Eastern Bank lifted its position in Consolidated Edison by 2.9% during the 1st quarter. Eastern Bank now owns 4,294 shares of the utilities provider's stock worth $475,000 after acquiring an additional 120 shares during the period. Cary Street Partners Investment Advisory LLC raised its stake in shares of Consolidated Edison by 64.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider's stock worth $34,000 after buying an additional 120 shares in the last quarter. Finally, Integrated Advisors Network LLC raised its stake in shares of Consolidated Edison by 1.6% during the 1st quarter. Integrated Advisors Network LLC now owns 7,842 shares of the utilities provider's stock worth $867,000 after buying an additional 121 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ED shares. KeyCorp reissued an "overweight" rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Barclays increased their target price on Consolidated Edison from $101.00 to $107.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 13th. Mizuho raised their price objective on Consolidated Edison from $107.00 to $112.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Bank of America downgraded Consolidated Edison from a "buy" rating to an "underperform" rating and dropped their price objective for the company from $112.00 to $101.00 in a research note on Friday, August 15th. Finally, Morgan Stanley reaffirmed an "underweight" rating on shares of Consolidated Edison in a research note on Thursday, August 21st. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, Consolidated Edison presently has a consensus rating of "Hold" and a consensus price target of $105.82.

Consolidated Edison Trading Down 0.2%

Shares of ED stock traded down $0.16 during mid-day trading on Friday, hitting $97.54. 1,249,429 shares of the company's stock were exchanged, compared to its average volume of 2,732,472. Consolidated Edison Inc has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The stock has a 50-day simple moving average of $100.97 and a two-hundred day simple moving average of $103.90. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. The stock has a market cap of $35.18 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 2.70 and a beta of 0.28.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.The business had revenue of $3.60 billion for the quarter, compared to analysts' expectations of $3.39 billion. During the same quarter last year, the firm earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Wednesday, August 13th will be issued a $0.85 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $3.40 dividend on an annualized basis and a yield of 3.5%. Consolidated Edison's dividend payout ratio (DPR) is presently 61.71%.

Consolidated Edison Profile

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.