Global X Japan Co. Ltd. Sells 111 Shares of Consolidated Edison, Inc. (NYSE:ED)

Global X Japan Co. Ltd. decreased its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 2.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,570 shares of the utilities provider’s stock after selling 111 shares during the period. Global X Japan Co. Ltd.’s holdings in Consolidated Edison were worth $409,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ED. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Consolidated Edison by 3.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 418,244 shares of the utilities provider’s stock valued at $38,897,000 after acquiring an additional 12,953 shares in the last quarter. Corient Private Wealth LLC increased its position in shares of Consolidated Edison by 4.6% during the 4th quarter. Corient Private Wealth LLC now owns 175,416 shares of the utilities provider’s stock valued at $15,958,000 after purchasing an additional 7,725 shares during the last quarter. UBS Group AG increased its position in shares of Consolidated Edison by 14.7% during the 4th 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 during the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Consolidated Edison by 2,486.2% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 21,776 shares of the utilities provider’s stock worth $1,977,000 after purchasing an additional 20,934 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Consolidated Edison by 35.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 47,466 shares of the utilities provider’s stock worth $4,318,000 after buying an additional 12,307 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Guggenheim lifted their price objective on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Morgan Stanley upped their price objective on Consolidated Edison from $75.00 to $82.00 and gave the company an “underweight” rating in a research note on Friday, August 23rd. Bank of America boosted their price objective on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Argus raised shares of Consolidated Edison to a “strong-buy” rating in a report on Friday, June 7th. Finally, Barclays lifted their target price on shares of Consolidated Edison from $92.00 to $98.00 and gave the stock an “underweight” rating in a research note on Monday, August 5th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Consolidated Edison has a consensus rating of “Hold” and an average price target of $92.65.

Consolidated Edison Stock Up 1.4 %

ED opened at $104.75 on Tuesday. The firm has a market capitalization of $36.26 billion, a P/E ratio of 20.11, a price-to-earnings-growth ratio of 3.49 and a beta of 0.36. Consolidated Edison, Inc. has a one year low of $80.46 and a one year high of $105.99. The company has a fifty day moving average price of $97.51 and a 200-day moving average price of $93.67. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97.

Consolidated Edison (NYSE:ED) last announced its 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 business had revenue of $3.22 billion during 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 period in the previous year, the business posted $0.61 earnings per share. Equities research analysts expect that Consolidated Edison, Inc. will post 5.31 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Wednesday, August 14th will be paid a $0.83 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $3.32 dividend on an annualized basis and a yield of 3.17%. Consolidated Edison’s dividend payout ratio is presently 63.72%.

Consolidated Edison 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.