QRG Capital Management Inc. Buys 9,585 Shares of Consolidated Edison, Inc. (NYSE:ED)

QRG Capital Management Inc. increased its holdings in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 2.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 352,822 shares of the utilities provider's stock after acquiring an additional 9,585 shares during the quarter. QRG Capital Management Inc. owned approximately 0.10% of Consolidated Edison worth $36,739,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ED. Allspring Global Investments Holdings LLC grew its position in shares of Consolidated Edison by 5.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 227,728 shares of the utilities provider's stock valued at $20,680,000 after acquiring an additional 11,972 shares during the period. Private Advisor Group LLC increased its position in Consolidated Edison by 3.2% in the first quarter. Private Advisor Group LLC now owns 49,735 shares of the utilities provider's stock worth $4,516,000 after buying an additional 1,552 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Consolidated Edison by 9.3% in the first quarter. Sequoia Financial Advisors LLC now owns 10,830 shares of the utilities provider's stock valued at $983,000 after buying an additional 926 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Consolidated Edison by 11.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 109,630 shares of the utilities provider's stock valued at $10,112,000 after buying an additional 11,165 shares during the period. Finally, Janney Montgomery Scott LLC lifted its position in shares of Consolidated Edison by 2.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 212,784 shares of the utilities provider's stock valued at $19,323,000 after buying an additional 4,480 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ED. Barclays lifted their price objective on Consolidated Edison from $98.00 to $104.00 and gave the stock an "underweight" rating in a report on Monday, October 21st. Wells Fargo & Company boosted their price target on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an "equal weight" rating in a research report on Friday, August 2nd. Scotiabank raised their price objective on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a "sector underperform" rating in a report on Tuesday, August 20th. Morgan Stanley lifted their price objective on shares of Consolidated Edison from $82.00 to $87.00 and gave the company an "underweight" rating in a research note on Wednesday, September 25th. Finally, UBS Group raised 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. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $98.73.

Consolidated Edison Price Performance

ED traded down $0.85 during trading on Monday, reaching $99.15. The stock had a trading volume of 2,087,606 shares, compared to its average volume of 1,842,155. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04. The business has a 50-day moving average of $103.51 and a 200-day moving average of $97.79. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.75. The stock has a market cap of $34.32 billion, a PE ratio of 19.29, a PEG ratio of 3.43 and a beta of 0.36.

Consolidated Edison (NYSE:ED - Get Free Report) last released its earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share 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 company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the previous year, the company posted $0.61 EPS. As a group, equities research analysts anticipate that Consolidated Edison, Inc. will post 5.31 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.35%. Consolidated Edison's payout ratio is 64.59%.

Consolidated Edison 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.