Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by Barclays PLC

Barclays PLC increased its stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 30.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,231,924 shares of the utilities provider's stock after purchasing an additional 285,115 shares during the quarter. Barclays PLC owned 0.36% of Consolidated Edison worth $128,279,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Retirement Planning Co of New England Inc. boosted its position in shares of Consolidated Edison by 4.2% during the 2nd quarter. Retirement Planning Co of New England Inc. now owns 2,501 shares of the utilities provider's stock worth $224,000 after acquiring an additional 100 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Consolidated Edison by 13.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 868 shares of the utilities provider's stock valued at $78,000 after purchasing an additional 100 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Consolidated Edison by 1.1% in the 3rd quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider's stock valued at $1,160,000 after purchasing an additional 124 shares during the last quarter. Townsquare Capital LLC lifted its holdings in shares of Consolidated Edison by 2.4% in the 3rd quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider's stock valued at $580,000 after purchasing an additional 130 shares during the last quarter. Finally, Brookstone Capital Management lifted its holdings in shares of Consolidated Edison by 0.6% in the 3rd quarter. Brookstone Capital Management now owns 24,173 shares of the utilities provider's stock valued at $2,517,000 after purchasing an additional 136 shares during the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ED shares. UBS Group boosted their target price on Consolidated Edison from $105.00 to $106.00 and gave the company a "neutral" rating in a report on Friday, September 20th. Citigroup raised 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 report on Tuesday, October 15th. Scotiabank boosted their target price on Consolidated Edison from $85.00 to $90.00 and gave the company a "sector underperform" rating in a report on Tuesday, August 20th. Barclays reduced their target price on Consolidated Edison from $104.00 to $99.00 and set an "underweight" rating for the company in a report on Friday, November 8th. Finally, Evercore ISI raised Consolidated Edison from a "hold" rating to a "strong-buy" rating in a report on Friday, November 8th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $99.13.

Consolidated Edison Stock Performance

Shares of ED stock traded down $1.94 during trading hours on Wednesday, reaching $92.75. 2,330,998 shares of the company's stock were exchanged, compared to its average volume of 1,895,344. The company has a market cap of $32.13 billion, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 3.18 and a beta of 0.36. The company's 50 day moving average is $100.69 and its two-hundred day moving average is $98.23. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.56 by $0.12. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. Equities research analysts anticipate that Consolidated Edison, Inc. will post 5.34 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison's dividend payout ratio is currently 62.52%.

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.