Geode Capital Management LLC Raises Position in Consolidated Edison, Inc. (NYSE:ED)

Geode Capital Management LLC increased its holdings in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 1.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,853,788 shares of the utilities provider's stock after purchasing an additional 107,281 shares during the period. Geode Capital Management LLC owned approximately 2.56% of Consolidated Edison worth $919,041,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ED. Brophy Wealth Management LLC bought a new stake in shares of Consolidated Edison in the 3rd quarter worth approximately $521,000. Vestcor Inc grew its stake in shares of Consolidated Edison by 1.3% during the 3rd quarter. Vestcor Inc now owns 246,991 shares of the utilities provider's stock valued at $25,719,000 after acquiring an additional 3,284 shares during the period. M&T Bank Corp increased its stake in Consolidated Edison by 5.0% in the 3rd quarter. M&T Bank Corp now owns 58,398 shares of the utilities provider's stock worth $6,081,000 after buying an additional 2,795 shares in the last quarter. Duff & Phelps Investment Management Co. increased its holdings in Consolidated Edison by 139.8% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 19,169 shares of the utilities provider's stock valued at $1,996,000 after acquiring an additional 11,174 shares during the last quarter. Finally, Barclays PLC raised its stake in Consolidated Edison by 30.1% during the third quarter. Barclays PLC now owns 1,231,924 shares of the utilities provider's stock valued at $128,279,000 after purchasing an additional 285,115 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Trading Down 0.2 %

NYSE:ED traded down $0.14 on Thursday, hitting $92.61. The stock had a trading volume of 2,020,275 shares, compared to its average volume of 1,897,031. The company has a fifty day moving average price of $100.45 and a two-hundred day moving average price of $98.19. Consolidated Edison, Inc. has a 1-year low of $85.85 and a 1-year high of $107.75. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The stock has a market cap of $32.08 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 3.18 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 EPS for the quarter, beating analysts' consensus estimates of $1.56 by $0.12. The firm had revenue of $4.09 billion for 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%. Equities research analysts expect that Consolidated Edison, Inc. will post 5.34 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

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

Analyst Ratings Changes

ED has been the subject of a number of research reports. Scotiabank upgraded Consolidated Edison from a "sector underperform" rating to a "sector perform" rating and boosted their price target for the company from $90.00 to $100.00 in a report on Thursday. Morgan Stanley decreased their target price 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. Evercore ISI upgraded Consolidated Edison from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 8th. Citigroup raised shares of Consolidated Edison from a "neutral" rating to a "buy" rating and increased their price objective for the company from $103.00 to $116.00 in a report on Tuesday, October 15th. Finally, Barclays decreased their target price on Consolidated Edison from $104.00 to $99.00 and set an "underweight" rating on the stock in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Consolidated Edison currently has a consensus rating of "Hold" and a consensus price target of $99.96.

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.