Consolidated Edison, Inc. (NYSE:ED) Holdings Raised by Stephens Inc. AR

by · The Cerbat Gem

Stephens Inc. AR increased its stake in Consolidated Edison, Inc. (NYSE:ED – Free Report) by 4.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,943 shares of the utilities provider’s stock after purchasing an additional 4,223 shares during the quarter. Stephens Inc. AR’s holdings in Consolidated Edison were worth $9,470,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ED. Pathway Financial Advisers LLC raised its position in Consolidated Edison by 10,302.6% during the third quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider’s stock valued at $2,546,000 after buying an additional 24,211 shares during the period. Sei Investments Co. lifted its position in shares of Consolidated Edison by 57.4% in the first quarter. Sei Investments Co. now owns 244,404 shares of the utilities provider’s stock worth $22,193,000 after purchasing an additional 89,080 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Consolidated Edison by 153.9% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 245,802 shares of the utilities provider’s stock worth $22,321,000 after purchasing an additional 148,988 shares during the period. Mizuho Markets Americas LLC grew its position in Consolidated Edison by 121.1% during the first quarter. Mizuho Markets Americas LLC now owns 113,675 shares of the utilities provider’s stock valued at $10,323,000 after purchasing an additional 62,260 shares in the last quarter. Finally, Plato Investment Management Ltd increased its stake in Consolidated Edison by 17,683.9% in the 1st quarter. Plato Investment Management Ltd now owns 9,959 shares of the utilities provider’s stock valued at $904,000 after buying an additional 9,903 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Ratings Changes

ED has been the topic of several research analyst reports. Guggenheim boosted their price target on shares of Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Wells Fargo & Company upped their target price on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Scotiabank lifted their price target on Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $103.00 to $116.00 in a report on Tuesday, October 15th. Finally, Jefferies Financial Group began coverage on shares of Consolidated Edison in a research report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 target price for the company. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $98.73.

Get Our Latest Report on Consolidated Edison

Consolidated Edison Stock Down 1.7 %

Consolidated Edison stock opened at $100.00 on Friday. 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, Inc. has a fifty-two week low of $85.85 and a fifty-two week high of $107.75. The firm has a fifty day moving average price of $103.54 and a two-hundred day moving average price of $97.61. The firm has a market cap of $34.62 billion, a price-to-earnings ratio of 19.46, a P/E/G ratio of 3.47 and a beta of 0.36.

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

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be given a $0.83 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 annualized dividend and a dividend yield of 3.32%. Consolidated Edison’s dividend payout ratio is 64.59%.

Consolidated Edison Company Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding ED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Consolidated Edison, Inc. (NYSE:ED – Free Report).