Mitsubishi UFJ Trust & Banking Corp Grows Position in Consolidated Edison, Inc. (NYSE:ED)

Mitsubishi UFJ Trust & Banking Corp raised its position in Consolidated Edison, Inc. (NYSE:ED) by 7.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 583,870 shares of the utilities provider’s stock after acquiring an additional 39,246 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Consolidated Edison were worth $52,099,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ED. AlphaMark Advisors LLC acquired a new stake in shares of Consolidated Edison in the 4th quarter valued at $27,000. OFI Invest Asset Management acquired a new stake in Consolidated Edison in the fourth quarter valued at $35,000. Fairway Wealth LLC purchased a new stake in Consolidated Edison during the 4th quarter worth about $36,000. Centricity Wealth Management LLC acquired a new position in shares of Consolidated Edison during the 4th quarter worth about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Consolidated Edison in the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ED shares. UBS Group boosted their target price on Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Scotiabank increased their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research report on Monday, February 24th. Mizuho boosted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Finally, Barclays upped their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research note on Monday, February 24th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $102.40.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $105.60 on Wednesday. Consolidated Edison, Inc. has a one year low of $87.16 and a one year high of $109.36. The stock has a market capitalization of $36.62 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 3.05 and a beta of 0.30. The company has a 50-day simple moving average of $98.60 and a 200-day simple moving average of $98.40. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. On average, analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.22%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is 64.89%.

About Consolidated Edison

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.