Meiji Yasuda Asset Management Co Ltd. Has $1.63 Million Holdings in Consolidated Edison, Inc. (NYSE:ED)

Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 8.0% during the second quarter, Holdings Channel.com reports. The firm owned 18,241 shares of the utilities provider’s stock after purchasing an additional 1,344 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Consolidated Edison were worth $1,631,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Brown Advisory Inc. lifted its position in Consolidated Edison by 1.8% in the 4th quarter. Brown Advisory Inc. now owns 19,019 shares of the utilities provider’s stock valued at $1,730,000 after acquiring an additional 331 shares in the last quarter. UBS Group AG lifted its holdings in shares of Consolidated Edison by 14.7% in the fourth quarter. UBS Group AG now owns 488,483 shares of the utilities provider’s stock valued at $44,437,000 after purchasing an additional 62,519 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Consolidated Edison by 10.7% during the fourth quarter. Wells Fargo & Company MN now owns 281,514 shares of the utilities provider’s stock valued at $25,609,000 after buying an additional 27,242 shares during the last quarter. Clearbridge Investments LLC grew its holdings in Consolidated Edison by 26.9% during the fourth quarter. Clearbridge Investments LLC now owns 28,166 shares of the utilities provider’s stock worth $2,562,000 after buying an additional 5,973 shares in the last quarter. Finally, D.A. Davidson & CO. raised its position in Consolidated Edison by 15.4% in the 4th quarter. D.A. Davidson & CO. now owns 8,147 shares of the utilities provider’s stock valued at $741,000 after buying an additional 1,090 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ED. UBS Group upped their target price on shares of Consolidated Edison from $92.00 to $96.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Wells Fargo & Company upped their price objective on shares of Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Mizuho lifted their target price on shares of Consolidated Edison from $93.00 to $95.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Barclays upped their target price on Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a report on Monday, August 5th. Finally, Argus upgraded Consolidated Edison to a “strong-buy” rating in a report on Friday, June 7th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $92.65.

Consolidated Edison Trading Down 1.2 %

Shares of ED opened at $102.12 on Friday. Consolidated Edison, Inc. has a fifty-two week low of $80.46 and a fifty-two week high of $105.99. The business has a 50-day moving average of $99.86 and a 200 day moving average of $94.52. The firm has a market cap of $35.32 billion, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 3.50 and a beta of 0.36. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.08 billion. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. During the same quarter in the previous year, the firm posted $0.61 earnings per share. As a group, research analysts forecast that Consolidated Edison, Inc. will post 5.31 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Wednesday, August 14th were given a dividend of $0.83 per share. The ex-dividend date was Wednesday, August 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.25%. Consolidated Edison’s dividend payout ratio is currently 63.72%.

Consolidated Edison Company 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.