Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by Bank of Montreal Can

Bank of Montreal Can raised its position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 7.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 676,249 shares of the utilities provider's stock after purchasing an additional 45,448 shares during the quarter. Bank of Montreal Can owned 0.20% of Consolidated Edison worth $70,364,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Bayesian Capital Management LP acquired a new stake in shares of Consolidated Edison in the first quarter worth $287,000. California State Teachers Retirement System grew its position in Consolidated Edison by 3.6% during the 1st quarter. California State Teachers Retirement System now owns 622,517 shares of the utilities provider's stock worth $56,531,000 after purchasing an additional 21,507 shares during the period. Tidal Investments LLC raised its stake in shares of Consolidated Edison by 5.5% during the 1st quarter. Tidal Investments LLC now owns 7,204 shares of the utilities provider's stock valued at $654,000 after buying an additional 375 shares during the last quarter. Beacon Capital Management LLC lifted its holdings in shares of Consolidated Edison by 2,307.7% in the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider's stock valued at $28,000 after buying an additional 300 shares during the period. Finally, Plato Investment Management Ltd boosted its stake in shares of Consolidated Edison by 17,683.9% in the first quarter. Plato Investment Management Ltd now owns 9,959 shares of the utilities provider's stock worth $904,000 after buying an additional 9,903 shares during the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

Shares of NYSE:ED traded up $0.70 during trading on Wednesday, reaching $102.40. The stock had a trading volume of 110,156 shares, compared to its average volume of 1,870,461. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a 1-year low of $85.85 and a 1-year high of $107.75. The stock has a market cap of $35.47 billion, a PE ratio of 19.16, a PEG ratio of 3.34 and a beta of 0.36. The business has a fifty day moving average price of $101.85 and a 200-day moving average price of $98.13.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, beating analysts' consensus estimates of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. On average, equities analysts forecast that Consolidated Edison, Inc. will post 5.33 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.83 per share. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 annualized dividend and a yield of 3.24%. Consolidated Edison's dividend payout ratio is presently 62.52%.

Analysts Set New Price Targets

A number of research analysts have issued reports on ED shares. Guggenheim boosted their price target on Consolidated Edison from $88.00 to $91.00 and gave the company a "neutral" rating in a report on Friday, August 2nd. Citigroup upgraded shares of Consolidated Edison from a "neutral" rating to a "buy" rating and boosted their target price for the company from $103.00 to $116.00 in a research note on Tuesday, October 15th. UBS Group raised their price target on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a "neutral" rating in a research report on Friday, September 20th. Morgan Stanley decreased their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating for the company in a research report on Friday, November 22nd. Finally, Jefferies Financial Group started coverage on shares of Consolidated Edison in a research note on Wednesday, October 9th. They set a "hold" rating and a $108.00 target price on the stock. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $98.19.

About Consolidated Edison

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.