Mitsubishi UFJ Asset Management Co. Ltd. Acquires New Holdings in Consolidated Edison Inc $ED

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Consolidated Edison Inc (NYSE:ED) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 957,468 shares of the utilities provider’s stock, valued at approximately $105,925,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.26% of Consolidated Edison as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ED. Basepoint Wealth LLC bought a new stake in Consolidated Edison in the fourth quarter worth $26,000. JPL Wealth Management LLC bought a new position in Consolidated Edison during the third quarter valued at about $26,000. Sachetta LLC raised its holdings in Consolidated Edison by 72.9% during the first quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock valued at $27,000 after buying an additional 102 shares in the last quarter. WealthCollab LLC lifted its position in shares of Consolidated Edison by 68.4% in the fourth quarter. WealthCollab LLC now owns 315 shares of the utilities provider’s stock worth $31,000 after buying an additional 128 shares during the last quarter. Finally, Godfrey Financial Associates Inc. acquired a new stake in shares of Consolidated Edison in the fourth quarter worth about $32,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

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

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.07. The company had revenue of $4.07 billion during 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 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, equities analysts forecast that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Wednesday, August 19th will be issued a $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $3.55 dividend on an annualized basis and a yield of 3.3%. Consolidated Edison’s dividend payout ratio is 58.29%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ED. Barclays lowered their price objective on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a report on Friday, August 7th. Morgan Stanley restated an “underweight” rating on shares of Consolidated Edison in a report on Wednesday, July 22nd. Wells Fargo & Company upped their target price on Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Evercore reiterated a “positive” rating and set a $112.00 price target on shares of Consolidated Edison in a report on Monday. Finally, KeyCorp reduced their price objective on shares of Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating for the company in a research note on Thursday, July 23rd. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $108.80.

Consolidated Edison Company 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.