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

Sumitomo Mitsui Trust Group Inc. cut its stake in Consolidated Edison Inc (NYSE:ED) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 960,882 shares of the utilities provider’s stock after selling 26,888 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Consolidated Edison were worth $98,212,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ED. Aberdeen Wealth Management LLC bought a new stake in Consolidated Edison during the second quarter worth approximately $27,000. Sachetta LLC increased its position in shares of Consolidated Edison by 72.9% during the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 102 shares during the period. Activest Wealth Management increased its position in shares of Consolidated Edison by 77.3% during the 3rd quarter. Activest Wealth Management now owns 250 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 109 shares during the period. Keating Financial Advisory Services Inc. acquired a new position in shares of Consolidated Edison during the 2nd quarter valued at $30,000. Finally, GoalVest Advisory LLC raised its stake in shares of Consolidated Edison by 80.0% in the 3rd quarter. GoalVest Advisory LLC now owns 306 shares of the utilities provider’s stock worth $31,000 after buying an additional 136 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $118.61 on Tuesday. The company has a market cap of $43.86 billion, a P/E ratio of 19.48, a price-to-earnings-growth ratio of 3.95 and a beta of 0.26. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $118.79. 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 company’s fifty day moving average is $107.97 and its two-hundred day moving average is $109.02.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The firm had revenue of $4.07 billion during the quarter, compared to analyst estimates 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 company posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities analysts expect that Consolidated Edison Inc will post 6.10 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ED. Morgan Stanley cut their price objective on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a report on Friday, September 18th. 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. Evercore lowered their target price on Consolidated Edison from $116.00 to $112.00 in a report on Thursday, October 8th. Mizuho set a $108.00 price target on shares of Consolidated Edison in a research report on Wednesday, October 7th. Finally, Wells Fargo & Company upped their price target on shares of Consolidated Edison from $106.00 to $108.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently 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.