Consolidated Edison, Inc. (NYSE:ED) Shares Bought by Mizuho Securities USA LLC

Mizuho Securities USA LLC raised its holdings in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 387.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 129,952 shares of the utilities provider's stock after buying an additional 103,288 shares during the quarter. Mizuho Securities USA LLC's holdings in Consolidated Edison were worth $13,532,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Clean Energy Transition LLP lifted its position in Consolidated Edison by 227.9% during the 2nd quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider's stock worth $80,259,000 after buying an additional 623,787 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Consolidated Edison by 10,262.1% in the 3rd quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider's stock valued at $57,641,000 after buying an additional 548,204 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Consolidated Edison by 302.3% in the second quarter. Acadian Asset Management LLC now owns 709,172 shares of the utilities provider's stock valued at $63,396,000 after buying an additional 532,893 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Consolidated Edison by 4,020.5% during the third quarter. Assenagon Asset Management S.A. now owns 406,859 shares of the utilities provider's stock worth $42,366,000 after buying an additional 396,985 shares during the period. Finally, AMF Tjanstepension AB increased its stake in Consolidated Edison by 243.2% in the 2nd quarter. AMF Tjanstepension AB now owns 497,982 shares of the utilities provider's stock valued at $44,564,000 after buying an additional 352,903 shares during the last quarter. Institutional investors own 66.29% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Consolidated Edison in a research report on Wednesday, October 9th. They set a "hold" rating and a $108.00 price target on the stock. 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 research note on Monday, August 5th. Scotiabank raised their target price on Consolidated Edison from $85.00 to $90.00 and gave the company a "sector underperform" rating in a research note on Tuesday, August 20th. Guggenheim upped their target price on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a "neutral" rating in a research note on Friday, August 2nd. Finally, 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 report on Friday, November 8th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $98.35.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock traded up $1.20 during midday trading on Friday, hitting $96.44. The company had a trading volume of 2,239,156 shares, compared to its average volume of 2,354,497. The company has a fifty day simple moving average of $102.68 and a 200 day simple moving average of $98.02. The stock has a market cap of $33.41 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 3.24 and a beta of 0.36. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month 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.

Consolidated Edison (NYSE:ED - Get Free Report) last issued 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 for the quarter, compared to analyst estimates of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. As a group, analysts predict that Consolidated Edison, Inc. will post 5.33 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.83 per share. 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 dividend payout ratio is presently 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.