Plato Investment Management Ltd Has $2.36 Million Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Plato Investment Management Ltd increased its stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 127.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,690 shares of the utilities provider's stock after buying an additional 12,731 shares during the quarter. Plato Investment Management Ltd's holdings in Consolidated Edison were worth $2,360,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new position in shares of Consolidated Edison in the 3rd quarter worth approximately $27,000. Beacon Capital Management LLC increased its position 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 worth $28,000 after purchasing an additional 300 shares during the period. Ashton Thomas Securities LLC bought a new stake in Consolidated Edison during the 3rd quarter worth about $30,000. Pathway Financial Advisers LLC acquired a new position in Consolidated Edison during the 1st quarter valued at about $33,000. Finally, TruNorth Capital Management LLC bought a new position in shares of Consolidated Edison in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 66.29% of the company's stock.

Consolidated Edison Stock Down 0.2 %

ED stock traded down $0.16 during trading hours on Thursday, reaching $95.25. 2,112,596 shares of the stock were exchanged, compared to its average volume of 1,868,543. The company has a market cap of $33.00 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 3.26 and a beta of 0.36. The firm's 50-day moving average is $102.99 and its 200-day moving average is $98.00. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.56 by $0.12. The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. On average, equities research analysts expect that Consolidated Edison, Inc. will post 5.33 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison's dividend payout ratio (DPR) is currently 62.52%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Guggenheim increased their price objective on shares of Consolidated Edison from $88.00 to $91.00 and gave the company a "neutral" rating in a report on Friday, August 2nd. Morgan Stanley increased their price target on Consolidated Edison from $82.00 to $87.00 and gave the company an "underweight" rating in a research note on Wednesday, September 25th. Citigroup raised Consolidated Edison from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Wells Fargo & Company increased their target price 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. Finally, Jefferies Financial Group began coverage on Consolidated Edison in a research note on Wednesday, October 9th. They issued a "hold" rating and a $108.00 price target for the company. Four analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $98.35.

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.