Caisse DE Depot ET Placement DU Quebec Has $429,000 Holdings in Consolidated Edison, Inc. (NYSE:ED)

Caisse DE Depot ET Placement DU Quebec cut its holdings in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 67.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,116 shares of the utilities provider's stock after selling 8,705 shares during the period. Caisse DE Depot ET Placement DU Quebec's holdings in Consolidated Edison were worth $429,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Capital Performance Advisors LLP bought a new position in Consolidated Edison in the 3rd quarter valued at $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Consolidated Edison in the 3rd quarter valued at $30,000. TruNorth Capital Management LLC acquired a new position in shares of Consolidated Edison in the 2nd quarter valued at $33,000. Future Financial Wealth Managment LLC acquired a new position in shares of Consolidated Edison in the 3rd quarter valued at $55,000. Finally, Webster Bank N. A. lifted its stake in shares of Consolidated Edison by 189.5% in the 3rd quarter. Webster Bank N. A. now owns 579 shares of the utilities provider's stock valued at $60,000 after purchasing an additional 379 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Down 0.9 %

Shares of ED traded down $0.92 during midday trading on Wednesday, hitting $96.61. The stock had a trading volume of 5,090,612 shares, compared to its average volume of 1,884,532. The company has a 50 day simple moving average of $101.40 and a two-hundred day simple moving average of $98.22. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75. The firm has a market cap of $33.46 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 3.31 and a beta of 0.36. 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 announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.12. The company had revenue of $4.09 billion during the quarter, compared to analysts' expectations of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. On average, analysts anticipate that Consolidated Edison, Inc. will post 5.34 EPS for the current year.

Consolidated Edison Announces Dividend

The firm 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 dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison's payout ratio is currently 62.52%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ED shares. Evercore ISI raised Consolidated Edison from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 8th. Jefferies Financial Group started coverage on Consolidated Edison in a research note on Wednesday, October 9th. They issued a "hold" rating and a $108.00 price target on the stock. Barclays cut their price target on Consolidated Edison from $104.00 to $99.00 and set an "underweight" rating on the stock in a research note on Friday, November 8th. UBS Group increased their price target on Consolidated Edison from $105.00 to $106.00 and gave the company a "neutral" rating in a research note on Friday, September 20th. Finally, Citigroup raised Consolidated Edison from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Three research analysts have rated the stock with a sell rating, eight have issued 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.com, the stock currently has an average rating of "Hold" and a consensus price target of $99.13.

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.