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

Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 8.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ED. Beacon Capital Management LLC raised its holdings in shares of Consolidated Edison by 2,307.7% during the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock worth $28,000 after buying an additional 300 shares in the last quarter. Tidemark LLC bought a new position in shares of Consolidated Edison in the fourth quarter worth about $29,000. Raleigh Capital Management Inc. acquired a new stake in shares of Consolidated Edison in the 4th quarter valued at approximately $29,000. Pathway Financial Advisers LLC bought a new stake in shares of Consolidated Edison during the 1st quarter valued at approximately $33,000. Finally, TruNorth Capital Management LLC acquired a new position in Consolidated Edison during the 2nd quarter worth approximately $33,000. 66.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Mizuho raised their target price on shares of Consolidated Edison from $93.00 to $95.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Argus upgraded Consolidated Edison to a “strong-buy” rating in a research report on Friday, June 7th. Bank of America increased their target price on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Scotiabank boosted their price target on Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. Finally, Barclays raised their price objective on shares of Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a report on Monday, August 5th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $92.65.

Consolidated Edison Stock Performance

Shares of ED opened at $102.12 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08. The firm’s fifty day simple moving average is $99.86 and its two-hundred day simple moving average is $94.52. Consolidated Edison, Inc. has a 12 month low of $80.46 and a 12 month high of $105.99. The stock has a market capitalization 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.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter last year, the firm posted $0.61 earnings per share. As a group, analysts predict 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. Investors of record on Wednesday, August 14th were paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Wednesday, August 14th. Consolidated Edison’s dividend payout ratio is presently 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.