Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 5.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 477,722 shares of the utilities provider's stock after purchasing an additional 23,024 shares during the period. Principal Financial Group Inc. owned approximately 0.14% of Consolidated Edison worth $49,745,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of ED. Point72 Asset Management L.P. boosted its holdings in shares of Consolidated Edison by 1,766.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 988,961 shares of the utilities provider's stock valued at $102,980,000 after acquiring an additional 935,962 shares during the last quarter. Clean Energy Transition LLP raised its stake in shares of Consolidated Edison by 227.9% during the 2nd quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider's stock valued at $80,259,000 after buying an additional 623,787 shares during the last quarter. FMR LLC lifted its holdings in shares of Consolidated Edison by 82.3% in the 3rd quarter. FMR LLC now owns 1,268,424 shares of the utilities provider's stock valued at $132,081,000 after buying an additional 572,530 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Consolidated Edison by 10,262.1% in the third quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider's stock worth $57,641,000 after buying an additional 548,204 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Consolidated Edison by 302.3% during the second quarter. Acadian Asset Management LLC now owns 709,172 shares of the utilities provider's stock worth $63,396,000 after acquiring an additional 532,893 shares during the period. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on ED shares. Barclays dropped their price target on shares of Consolidated Edison from $104.00 to $99.00 and set an "underweight" rating on the stock in a research report on Friday, November 8th. Morgan Stanley cut their price target on Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating for the company in a research note on Friday, November 22nd. UBS Group raised their price objective on Consolidated Edison from $105.00 to $106.00 and gave the company a "neutral" rating in a report on Friday, September 20th. Scotiabank raised Consolidated Edison from a "sector underperform" rating to a "sector perform" rating and upped their target price for the stock from $90.00 to $100.00 in a research note on Thursday, December 12th. Finally, Citigroup raised shares of Consolidated Edison from a "neutral" rating to a "buy" rating and lifted their price target for the company from $103.00 to $116.00 in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Consolidated Edison has a consensus rating of "Hold" and a consensus target price of $99.96.

Consolidated Edison Trading Down 0.4 %

NYSE:ED traded down $0.36 during trading hours on Monday, hitting $89.67. The company had a trading volume of 1,979,047 shares, compared to its average volume of 1,920,733. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The company has a 50-day moving average of $98.83 and a 200 day moving average of $98.10. The company has a market cap of $31.06 billion, a P/E ratio of 16.89, a P/E/G ratio of 3.11 and a beta of 0.36.

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

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th were paid a dividend of $0.83 per share. The ex-dividend date was Wednesday, November 13th. This represents a $3.32 annualized dividend and a yield of 3.70%. Consolidated Edison's dividend payout ratio (DPR) is 62.52%.

Consolidated Edison Company Profile

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.