Mizuho Markets Americas LLC Sells 6,399 Shares of Consolidated Edison, Inc. (NYSE:ED)

Mizuho Markets Americas LLC reduced its position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 9.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 60,523 shares of the utilities provider's stock after selling 6,399 shares during the quarter. Mizuho Markets Americas LLC's holdings in Consolidated Edison were worth $6,302,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ED. Capital Performance Advisors LLP acquired a new stake in Consolidated Edison during the 3rd quarter valued at $27,000. Beacon Capital Management LLC raised its stake in Consolidated Edison by 2,307.7% during the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider's stock valued at $28,000 after purchasing an additional 300 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Consolidated Edison during the 3rd quarter valued at $30,000. Pathway Financial Advisers LLC acquired a new stake in Consolidated Edison during the 1st quarter valued at $33,000. Finally, TruNorth Capital Management LLC acquired a new stake in Consolidated Edison during the 2nd quarter valued at $33,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ED has been the topic of several research analyst reports. Evercore ISI upgraded shares of Consolidated Edison from a "hold" rating to a "strong-buy" rating in a report on Friday, November 8th. Morgan Stanley increased their target price on Consolidated Edison from $82.00 to $87.00 and gave the company an "underweight" rating in a research note on Wednesday, September 25th. Bank of America increased their target price on Consolidated Edison from $97.00 to $109.00 and gave the company a "buy" rating in a research note on Monday, August 5th. Barclays decreased their target price on Consolidated Edison from $104.00 to $99.00 and set an "underweight" rating for the company in a research note on Friday, November 8th. Finally, Guggenheim increased their target price on Consolidated Edison from $88.00 to $91.00 and gave the company a "neutral" rating in a research note on Friday, August 2nd. Four 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 given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $98.35.

Consolidated Edison Price Performance

ED stock traded up $1.20 during midday trading on Friday, reaching $96.44. 2,239,156 shares of the company's stock traded hands, compared to its average volume of 1,870,506. The company has a 50-day simple moving average of $102.68 and a two-hundred day simple moving average of $97.99. Consolidated Edison, Inc. has a 1-year low of $85.85 and a 1-year high of $107.75. The company has a market cap of $33.41 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 3.21 and a beta of 0.36. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 8.70% and a net margin of 12.27%. On average, analysts anticipate that Consolidated Edison, Inc. will post 5.33 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be given a $0.83 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a yield of 3.44%. Consolidated Edison's payout ratio 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.