Bank of Montreal Can Reduces Holdings in Consolidated Edison, Inc. (NYSE:ED)

Bank of Montreal Can lessened its stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 0.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 671,434 shares of the utilities provider's stock after selling 4,815 shares during the period. Bank of Montreal Can owned approximately 0.19% of Consolidated Edison worth $59,912,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Consolidated Edison by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 42,455,662 shares of the utilities provider's stock worth $3,788,319,000 after acquiring an additional 488,752 shares during the period. Geode Capital Management LLC lifted its position in shares of Consolidated Edison by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 8,984,022 shares of the utilities provider's stock valued at $799,684,000 after buying an additional 130,234 shares in the last quarter. Norges Bank acquired a new stake in Consolidated Edison in the 4th quarter valued at $399,824,000. Charles Schwab Investment Management Inc. increased its holdings in Consolidated Edison by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,225,989 shares of the utilities provider's stock worth $198,625,000 after acquiring an additional 77,323 shares in the last quarter. Finally, Amundi raised its position in Consolidated Edison by 12.2% during the fourth quarter. Amundi now owns 2,221,729 shares of the utilities provider's stock worth $197,795,000 after acquiring an additional 242,243 shares during the period. 66.29% of the stock is owned by hedge funds and other institutional investors.

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Consolidated Edison Trading Up 0.1 %

Shares of Consolidated Edison stock traded up $0.17 during trading hours on Tuesday, hitting $112.42. The company's stock had a trading volume of 441,480 shares, compared to its average volume of 2,839,887. The stock has a market cap of $40.49 billion, a price-to-earnings ratio of 21.45, a P/E/G ratio of 3.05 and a beta of 0.27. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a twelve month low of $87.28 and a twelve month high of $114.87. The firm has a fifty day moving average of $103.50 and a 200-day moving average of $98.96.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.01. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. Research analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.02%. This is an increase from Consolidated Edison's previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, February 19th. Consolidated Edison's payout ratio is 64.89%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of Consolidated Edison from $85.00 to $91.00 and gave the stock an "underweight" rating in a research note on Thursday, March 20th. Mizuho lifted their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. UBS Group increased their price objective on Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Scotiabank lifted their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research note on Monday, February 24th. Finally, Citigroup increased their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a research report on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $102.80.

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.