Unigestion Holding SA Purchases 304,217 Shares of Consolidated Edison, Inc. (NYSE:ED)

Unigestion Holding SA raised its holdings in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 1,904.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 320,188 shares of the utilities provider's stock after acquiring an additional 304,217 shares during the quarter. Consolidated Edison comprises approximately 1.6% of Unigestion Holding SA's portfolio, making the stock its 25th biggest holding. Unigestion Holding SA owned approximately 0.09% of Consolidated Edison worth $33,338,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in shares of Consolidated Edison during the 3rd quarter worth $27,000. Ashton Thomas Securities LLC bought a new stake in Consolidated Edison in the 3rd quarter worth approximately $30,000. TruNorth Capital Management LLC purchased a new stake in Consolidated Edison in the second quarter worth approximately $33,000. FSA Wealth Management LLC bought a new position in Consolidated Edison during the third quarter valued at approximately $55,000. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Consolidated Edison during the third quarter worth approximately $55,000. 66.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ED shares. UBS Group raised their price objective on Consolidated Edison from $105.00 to $106.00 and gave the company a "neutral" rating in a research note on Friday, September 20th. Citigroup raised Consolidated Edison from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Jefferies Financial Group started coverage on Consolidated Edison in a research note on Wednesday, October 9th. They set a "hold" rating and a $108.00 price objective for the company. Evercore ISI upgraded shares of Consolidated Edison from a "hold" rating to a "strong-buy" rating in a report on Friday, November 8th. Finally, Barclays cut their price target on shares of Consolidated Edison from $104.00 to $99.00 and set an "underweight" rating on the stock in a report on Friday, November 8th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Consolidated Edison currently has an average rating of "Hold" and an average target price of $99.13.

Consolidated Edison Stock Down 2.0 %

NYSE:ED traded down $1.94 on Wednesday, reaching $92.75. 2,330,998 shares of the stock traded hands, compared to its average volume of 1,895,344. The company's fifty day simple moving average is $100.69 and its 200 day simple moving average is $98.23. The company has a market capitalization of $32.13 billion, a price-to-earnings ratio of 17.61, 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 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 released its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The business had revenue of $4.09 billion for the quarter, compared to analysts' expectations of $4.02 billion. Equities analysts predict that Consolidated Edison, Inc. will post 5.34 EPS for the current fiscal 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 given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date is Wednesday, November 13th. 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.