Stifel Financial Corp Has $11.65 Million Stake in Consolidated Edison, Inc. (NYSE:ED)

Stifel Financial Corp lifted its position in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 7.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 111,890 shares of the utilities provider's stock after acquiring an additional 8,094 shares during the period. Stifel Financial Corp's holdings in Consolidated Edison were worth $11,651,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ED. Charles Schwab Investment Management Inc. boosted its position in Consolidated Edison by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,148,666 shares of the utilities provider's stock valued at $223,741,000 after purchasing an additional 28,254 shares during the last quarter. Hsbc Holdings PLC raised its holdings in Consolidated Edison by 0.8% in the 2nd quarter. Hsbc Holdings PLC now owns 1,502,523 shares of the utilities provider's stock worth $134,323,000 after acquiring an additional 11,785 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Consolidated Edison by 11.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,273,115 shares of the utilities provider's stock worth $113,845,000 after purchasing an additional 125,859 shares during the period. FMR LLC lifted its position in shares of Consolidated Edison by 82.3% during the 3rd quarter. FMR LLC now owns 1,268,424 shares of the utilities provider's stock worth $132,081,000 after purchasing an additional 572,530 shares during the last quarter. Finally, Swiss National Bank boosted its stake in Consolidated Edison by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,026,500 shares of the utilities provider's stock valued at $106,889,000 after purchasing an additional 3,500 shares during the period. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Trading Down 0.2 %

Shares of NYSE:ED traded down $0.14 during midday trading on Thursday, hitting $92.61. The company had a trading volume of 2,020,275 shares, compared to its average volume of 1,897,031. The stock has a market cap of $32.08 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 3.18 and a beta of 0.36. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75. The firm has a fifty day simple moving average of $100.45 and a 200 day simple moving average of $98.19. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings data 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. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The firm had revenue of $4.09 billion during the quarter, compared to analysts' expectations of $4.02 billion. On average, analysts predict that Consolidated Edison, Inc. will post 5.34 EPS for the current year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison's dividend payout ratio (DPR) is currently 62.52%.

Analyst Upgrades and Downgrades

Several brokerages have commented on ED. UBS Group lifted their price target on Consolidated Edison from $105.00 to $106.00 and gave the stock a "neutral" rating in a research report on Friday, September 20th. Barclays lowered their price target on Consolidated Edison from $104.00 to $99.00 and set an "underweight" rating on the stock in a research note on Friday, November 8th. Scotiabank raised Consolidated Edison from a "sector underperform" rating to a "sector perform" rating and lifted their price objective for the company from $90.00 to $100.00 in a report on Thursday. Jefferies Financial Group started coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They set a "hold" rating and a $108.00 price objective for the company. Finally, Morgan Stanley cut their price target on Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating for the company in a report on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $99.96.

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.