National Pension Service Increases Stock Position in Consolidated Edison, Inc. (NYSE:ED)

National Pension Service raised its holdings in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 7.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 468,572 shares of the utilities provider's stock after acquiring an additional 30,838 shares during the period. National Pension Service owned approximately 0.14% of Consolidated Edison worth $48,792,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ED. Intact Investment Management Inc. bought a new stake in Consolidated Edison in the third quarter valued at $75,000. Van ECK Associates Corp lifted its position in Consolidated Edison by 2.9% during the third quarter. Van ECK Associates Corp now owns 95,927 shares of the utilities provider's stock valued at $10,303,000 after buying an additional 2,681 shares during the period. Chicago Partners Investment Group LLC bought a new stake in shares of Consolidated Edison during the 3rd quarter valued at $381,000. Shepherd Financial Partners LLC grew its position in shares of Consolidated Edison by 5.6% in the 3rd quarter. Shepherd Financial Partners LLC now owns 13,596 shares of the utilities provider's stock worth $1,416,000 after buying an additional 722 shares during the period. Finally, Lebenthal Global Advisors LLC purchased a new position in Consolidated Edison during the 3rd quarter valued at about $209,000. Hedge funds and other institutional investors own 66.29% of the company's stock.

Consolidated Edison Trading Down 1.0 %

Shares of Consolidated Edison stock traded down $0.98 during trading hours on Wednesday, hitting $98.84. The company's stock had a trading volume of 1,485,021 shares, compared to its average volume of 1,841,291. The firm has a fifty day moving average of $103.51 and a 200-day moving average of $97.85. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04. The stock has a market cap of $34.21 billion, a price-to-earnings ratio of 19.42, a P/E/G ratio of 3.37 and a beta of 0.36. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75.

Consolidated Edison Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 annualized dividend and a dividend yield of 3.36%. Consolidated Edison's dividend payout ratio is presently 64.59%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Barclays lifted their price objective on Consolidated Edison from $98.00 to $104.00 and gave the company an "underweight" rating in a research note on Monday, October 21st. Bank of America boosted their target price on shares of Consolidated Edison from $97.00 to $109.00 and gave the stock a "buy" rating in a report on Monday, August 5th. Guggenheim raised 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 Consolidated Edison from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $103.00 to $116.00 in a report on Tuesday, October 15th. Finally, Morgan Stanley upped their target price on shares of Consolidated Edison from $82.00 to $87.00 and gave the stock an "underweight" rating in a research note on Wednesday, September 25th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Consolidated Edison has an average rating of "Hold" and a consensus target price of $98.73.

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.