Forsta AP Fonden Boosts Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Forsta AP Fonden increased its holdings in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 14.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 141,100 shares of the utilities provider's stock after purchasing an additional 17,900 shares during the quarter. Forsta AP Fonden's holdings in Consolidated Edison were worth $14,693,000 at the end of the most recent reporting period.

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

Consolidated Edison Stock Down 2.2 %

Shares of NYSE:ED traded down $2.40 during midday trading on Friday, hitting $104.60. 1,734,348 shares of the company's stock were exchanged, compared to its average volume of 1,715,160. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75. The company has a market cap of $36.17 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 3.57 and a beta of 0.36. The stock has a 50 day moving average price of $103.35 and a 200-day moving average price of $97.25.

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

Consolidated Edison Announces Dividend

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 issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison's dividend payout ratio is 63.72%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Consolidated Edison from $82.00 to $87.00 and gave the stock an "underweight" rating in a research report on Wednesday, September 25th. UBS Group increased their price target on Consolidated Edison from $105.00 to $106.00 and gave the stock a "neutral" rating in a report on Friday, September 20th. Wells Fargo & Company boosted their price objective on 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 set a "hold" rating and a $108.00 target price for the company. Finally, Guggenheim lifted their target price on Consolidated Edison from $88.00 to $91.00 and gave the stock a "neutral" rating in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Consolidated Edison has a consensus rating of "Hold" and an average price target of $98.73.

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.