Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Te Ahumairangi Investment Management Ltd

Te Ahumairangi Investment Management Ltd lowered its position in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 11.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,686 shares of the utilities provider's stock after selling 8,660 shares during the quarter. Consolidated Edison comprises about 1.3% of Te Ahumairangi Investment Management Ltd's portfolio, making the stock its 25th largest position. Te Ahumairangi Investment Management Ltd's holdings in Consolidated Edison were worth $7,112,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Point72 Asset Management L.P. grew its stake in shares of Consolidated Edison by 1,766.0% during the third quarter. Point72 Asset Management L.P. now owns 988,961 shares of the utilities provider's stock valued at $102,980,000 after buying an additional 935,962 shares during the last quarter. Clean Energy Transition LLP boosted its stake in shares of Consolidated Edison by 227.9% during the second quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider's stock valued at $80,259,000 after purchasing an additional 623,787 shares during the period. FMR LLC grew its holdings in shares of Consolidated Edison by 82.3% in the third 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. International Assets Investment Management LLC increased its stake in Consolidated Edison by 10,262.1% in the 3rd quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider's stock worth $57,641,000 after buying an additional 548,204 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in Consolidated Edison by 302.3% during the 2nd quarter. Acadian Asset Management LLC now owns 709,172 shares of the utilities provider's stock valued at $63,396,000 after buying an additional 532,893 shares in the last quarter. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Stock Down 0.2 %

NYSE ED traded down $0.14 during trading on Thursday, hitting $92.61. The company's stock had a trading volume of 2,021,890 shares, compared to its average volume of 1,892,569. Consolidated Edison, Inc. has a fifty-two week low of $85.85 and a fifty-two week 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. The company has a market cap of $32.08 billion, a PE ratio of 17.47, a P/E/G ratio of 3.18 and a beta of 0.36. The business's 50 day simple moving average is $100.45 and its 200-day simple moving average is $98.19.

Consolidated Edison (NYSE:ED - Get Free Report) last released its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. On average, equities analysts anticipate that Consolidated Edison, Inc. will post 5.34 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

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. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a yield of 3.58%. Consolidated Edison's dividend payout ratio is currently 62.52%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ED shares. Citigroup raised shares of Consolidated Edison from a "neutral" rating to a "buy" rating and raised their target price for the stock from $103.00 to $116.00 in a research report on Tuesday, October 15th. Jefferies Financial Group began coverage on Consolidated Edison in a report on Wednesday, October 9th. They issued a "hold" rating and a $108.00 target price for the company. Evercore ISI upgraded Consolidated Edison from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 8th. UBS Group upped their price objective on shares of Consolidated Edison from $105.00 to $106.00 and gave the stock a "neutral" rating in a research note on Friday, September 20th. Finally, Morgan Stanley cut their target price on shares of Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating on the stock in a research report on Friday, November 22nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target 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.