abrdn plc Has $36.91 Million Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

abrdn plc raised its holdings in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 3.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 354,995 shares of the utilities provider's stock after acquiring an additional 11,721 shares during the quarter. abrdn plc owned about 0.10% of Consolidated Edison worth $36,911,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Beacon Capital Management LLC boosted its stake in Consolidated Edison by 2,307.7% in the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider's stock valued at $28,000 after acquiring an additional 300 shares during the last quarter. Pathway Financial Advisers LLC bought a new position in Consolidated Edison in the first quarter valued at approximately $33,000. TruNorth Capital Management LLC bought a new position in Consolidated Edison in the second quarter valued at approximately $33,000. Versant Capital Management Inc boosted its stake in Consolidated Edison by 380.2% in the second quarter. Versant Capital Management Inc now owns 413 shares of the utilities provider's stock valued at $37,000 after acquiring an additional 327 shares during the last quarter. Finally, ESL Trust Services LLC bought a new position in Consolidated Edison in the first quarter valued at approximately $54,000. 66.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Scotiabank lifted their price target on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a "sector underperform" rating in a research report on Tuesday, August 20th. UBS Group lifted their price target on shares of Consolidated Edison from $105.00 to $106.00 and gave the stock a "neutral" rating in a research report on Friday, September 20th. Bank of America lifted their price target on shares of Consolidated Edison from $97.00 to $109.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Morgan Stanley lifted their price target 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. Finally, Guggenheim lifted their price target on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a "neutral" rating in a research report on Friday, August 2nd. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $98.73.

Consolidated Edison Stock Down 1.0 %

ED stock traded down $1.04 during midday trading on Thursday, hitting $101.68. The company's stock had a trading volume of 3,732,285 shares, compared to its average volume of 1,836,294. 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 twelve month low of $85.85 and a twelve month high of $107.75. The company's fifty day moving average price is $103.56 and its 200 day moving average price is $97.53. The stock has a market capitalization of $35.20 billion, a P/E ratio of 19.78, a PEG ratio of 3.57 and a beta of 0.36.

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 the consensus estimate of $0.57 by $0.02. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the previous year, the business earned $0.61 EPS. As a group, equities research analysts predict that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be paid a $0.83 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 annualized dividend and a yield of 3.27%. Consolidated Edison's payout ratio is currently 64.59%.

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.