Ausbil Investment Management Ltd Purchases New Position in Consolidated Edison, Inc. (NYSE:ED)

Ausbil Investment Management Ltd acquired a new stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 5,080 shares of the utilities provider's stock, valued at approximately $529,000.

A number of other large investors also recently modified their holdings of ED. Beacon Capital Management LLC boosted its position in Consolidated Edison by 2,307.7% during the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider's stock valued at $28,000 after buying an additional 300 shares during the period. Pathway Financial Advisers LLC bought a new position in Consolidated Edison during the 1st quarter worth approximately $33,000. TruNorth Capital Management LLC bought a new position in Consolidated Edison during the 2nd quarter worth approximately $33,000. Versant Capital Management Inc increased its stake in Consolidated Edison by 380.2% in the 2nd quarter. Versant Capital Management Inc now owns 413 shares of the utilities provider's stock worth $37,000 after purchasing an additional 327 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new stake in Consolidated Edison in the first quarter valued at approximately $48,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Guggenheim lifted 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. Wells Fargo & Company upped their price objective on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an "equal weight" rating in a research note on Friday, August 2nd. Jefferies Financial Group initiated coverage on Consolidated Edison in a research note on Wednesday, October 9th. They issued a "hold" rating and a $108.00 target price on the stock. Barclays boosted their price target on Consolidated Edison from $98.00 to $104.00 and gave the company an "underweight" rating in a report on Monday. Finally, Citigroup upgraded Consolidated Edison from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $103.00 to $116.00 in a report on Tuesday, October 15th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $98.73.

Consolidated Edison Stock Down 0.4 %

Consolidated Edison stock traded down $0.40 on Thursday, hitting $107.00. 1,127,349 shares of the stock traded hands, compared to its average volume of 1,833,461. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75. The firm has a market cap of $37.00 billion, a P/E ratio of 20.54, a price-to-earnings-growth ratio of 3.46 and a beta of 0.36. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08. The business's fifty day simple moving average is $103.10 and its 200 day simple moving average is $96.98.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.02. The company had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.08 billion. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. During the same period last year, the company posted $0.61 EPS. As a group, sell-side analysts forecast that Consolidated Edison, Inc. will post 5.3 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.83 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.32 annualized dividend and a dividend yield of 3.10%. Consolidated Edison's payout ratio is presently 63.72%.

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.