USS Investment Management Ltd Has $7.04 Million Stock Holdings in Consolidated Edison Inc $ED

USS Investment Management Ltd raised its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 8.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 62,176 shares of the utilities provider’s stock after acquiring an additional 4,930 shares during the period. USS Investment Management Ltd’s holdings in Consolidated Edison were worth $7,036,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Consolidated Edison by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 45,636,041 shares of the utilities provider’s stock valued at $4,532,572,000 after purchasing an additional 461,108 shares during the last quarter. State Street Corp grew its position in shares of Consolidated Edison by 3.6% during the 4th quarter. State Street Corp now owns 24,905,440 shares of the utilities provider’s stock worth $2,473,608,000 after buying an additional 854,868 shares during the period. Lazard Asset Management LLC grew its position in shares of Consolidated Edison by 3.4% during the 4th quarter. Lazard Asset Management LLC now owns 6,165,594 shares of the utilities provider’s stock worth $612,367,000 after buying an additional 205,041 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Consolidated Edison by 11.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,200,840 shares of the utilities provider’s stock valued at $516,549,000 after acquiring an additional 514,178 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Consolidated Edison in the 4th quarter valued at approximately $489,806,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Barclays decreased their price objective on shares of Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating for the company in a report on Monday, May 11th. Mizuho reaffirmed a “neutral” rating and issued a $105.00 price target on shares of Consolidated Edison in a research note on Tuesday, June 2nd. Morgan Stanley reiterated an “underweight” rating on shares of Consolidated Edison in a report on Wednesday, June 24th. Weiss Ratings raised shares of Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Consolidated Edison from $107.00 to $113.00 and gave the stock an “underweight” rating in a report on Thursday, March 12th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat, Consolidated Edison currently has an average rating of “Reduce” and a consensus target price of $108.07.

Key Stories Impacting Consolidated Edison

Here are the key news stories impacting Consolidated Edison this week:

• Positive Sentiment: Con Edison is being seen as a defensive utility beneficiary during the heat wave, with elevated electricity usage likely supporting near-term demand for its services. Con Edison Calls for Power-Saving, Reduces Voltage by 8% in Some Areas — Update
• Positive Sentiment: The company elected Tali Farhadian to its Board of Directors, adding legal and regulatory expertise that could help with governance and utility oversight. Con Edison Elects New Board Member
• Neutral Sentiment: Con Edison asked customers in parts of NYC, Westchester and the Bronx to conserve energy and reduced voltage in some areas to prevent grid strain during peak demand. As heat wave rages, Con Ed urges nearly 90,000 people in NYC, Westchester to limit power use
• Neutral Sentiment: Reports of outages in Staten Island and the Bronx point to operational stress from the heat, but the disruptions appear localized rather than a broad system failure. Thousands without power as Con Edison outages hit Staten Island
• Negative Sentiment: Localized outages and emergency voltage reductions could raise investor concern about grid reliability and possible costs tied to storm/heat-related service issues. Con Edison shuts off power to parts of Bronx neighborhood on hottest day of the year

Consolidated Edison Price Performance

Shares of ED opened at $113.96 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23. The stock has a market capitalization of $42.00 billion, a P/E ratio of 19.18, a P/E/G ratio of 2.82 and a beta of 0.27. The company has a 50 day moving average of $107.77 and a 200-day moving average of $107.67.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th were given a dividend of $0.8875 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $3.55 annualized dividend and a yield of 3.1%. Consolidated Edison’s payout ratio is 59.76%.

About Consolidated Edison

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.