Consolidated Edison, Inc. (NYSE:ED) Stake Reduced by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its holdings in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 4.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 965,203 shares of the utilities provider's stock after selling 43,391 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.28% of Consolidated Edison worth $100,507,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ED. Pathway Financial Advisers LLC boosted its stake in shares of Consolidated Edison by 10,302.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider's stock worth $2,546,000 after purchasing an additional 24,211 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Consolidated Edison by 57.4% during the first quarter. Sei Investments Co. now owns 244,404 shares of the utilities provider's stock worth $22,193,000 after purchasing an additional 89,080 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Consolidated Edison by 153.9% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 245,802 shares of the utilities provider's stock valued at $22,321,000 after purchasing an additional 148,988 shares during the period. Mizuho Markets Americas LLC increased its stake in Consolidated Edison by 121.1% in the first quarter. Mizuho Markets Americas LLC now owns 113,675 shares of the utilities provider's stock valued at $10,323,000 after purchasing an additional 62,260 shares during the last quarter. Finally, Plato Investment Management Ltd lifted its position in Consolidated Edison by 17,683.9% during the first quarter. Plato Investment Management Ltd now owns 9,959 shares of the utilities provider's stock worth $904,000 after buying an additional 9,903 shares during the period. Institutional investors and hedge funds own 66.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ED. Barclays lowered their target price on shares of Consolidated Edison from $104.00 to $99.00 and set an "underweight" rating for the company in a report on Friday, November 8th. Morgan Stanley upped their price target on Consolidated Edison from $82.00 to $87.00 and gave the stock an "underweight" rating in a research note on Wednesday, September 25th. Jefferies Financial Group started coverage on Consolidated Edison in a research note on Wednesday, October 9th. They issued a "hold" rating and a $108.00 price objective on the stock. Citigroup upgraded Consolidated Edison from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $103.00 to $116.00 in a report on Tuesday, October 15th. Finally, Scotiabank raised their price target on shares of Consolidated Edison from $85.00 to $90.00 and gave the company a "sector underperform" rating in a report on Tuesday, August 20th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $98.35.

Consolidated Edison Stock Down 0.0 %

Shares of NYSE ED traded down $0.02 during midday trading on Thursday, reaching $95.39. 599,138 shares of the company's stock were exchanged, compared to its average volume of 1,861,989. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75. The business's fifty day moving average price is $102.99 and its two-hundred day moving average price is $98.00. The stock has a market capitalization of $33.04 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 3.26 and a beta of 0.36.

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. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. Analysts forecast that Consolidated Edison, Inc. will post 5.33 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently announced 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. 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 3.48%. Consolidated Edison's dividend payout ratio (DPR) is 62.52%.

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.