Wilmington Savings Fund Society FSB Takes Position in Consolidated Edison, Inc. (NYSE:ED)

Wilmington Savings Fund Society FSB acquired a new position in Consolidated Edison, Inc. (NYSE:ED - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 7,457 shares of the utilities provider's stock, valued at approximately $776,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Point72 Asset Management L.P. increased its position in Consolidated Edison by 1,766.0% during the 3rd 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 in the last quarter. Clean Energy Transition LLP increased its holdings in Consolidated Edison by 227.9% in the second quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider's stock valued at $80,259,000 after buying an additional 623,787 shares in the last quarter. FMR LLC raised its holdings in Consolidated Edison by 82.3% in 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 period. International Assets Investment Management LLC raised its stake in shares of Consolidated Edison by 10,262.1% during 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 grew its position in shares of Consolidated Edison by 302.3% in the second quarter. Acadian Asset Management LLC now owns 709,172 shares of the utilities provider's stock valued at $63,396,000 after purchasing an additional 532,893 shares during the period. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Performance

Shares of ED traded down $1.46 during mid-day trading on Monday, hitting $91.23. 3,004,546 shares of the company's stock were exchanged, compared to its average volume of 1,901,489. The business's 50 day moving average is $100.02 and its two-hundred day moving average is $98.22. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $31.60 billion, a P/E ratio of 17.46, a P/E/G ratio of 3.11 and a beta of 0.36. Consolidated Edison, Inc. has a fifty-two week low of $85.85 and a fifty-two week high of $107.75.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping 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 company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. On average, equities analysts expect that Consolidated Edison, Inc. will post 5.34 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison's dividend payout ratio is currently 62.52%.

Wall Street Analyst Weigh In

Several brokerages recently commented on ED. UBS Group boosted 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. Evercore ISI upgraded Consolidated Edison from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 8th. Barclays reduced their price target on shares of Consolidated Edison from $104.00 to $99.00 and set an "underweight" rating on the stock in a research note on Friday, November 8th. Citigroup raised Consolidated Edison from a "neutral" rating to a "buy" rating and increased their target price for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group began coverage on shares of Consolidated Edison in a research note on Wednesday, October 9th. They issued a "hold" rating and a $108.00 price target for the company. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $99.96.

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.