Consolidated Edison, Inc. (NYSE:ED) Shares Bought by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund raised its position in Consolidated Edison, Inc. (NYSE:ED) by 11.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,244 shares of the utilities provider’s stock after acquiring an additional 9,430 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Consolidated Edison were worth $8,649,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC acquired a new position in Consolidated Edison during the fourth quarter worth approximately $29,000. Tidemark LLC acquired a new position in Consolidated Edison during the fourth quarter worth approximately $29,000. Raleigh Capital Management Inc. acquired a new position in Consolidated Edison during the fourth quarter worth approximately $29,000. CVA Family Office LLC acquired a new position in Consolidated Edison during the fourth quarter worth approximately $32,000. Finally, Atlantic Edge Private Wealth Management LLC acquired a new position in Consolidated Edison during the fourth quarter worth approximately $33,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Trading Up 0.0 %

NYSE ED traded up $0.01 during trading hours on Thursday, hitting $95.89. 1,025,618 shares of the company’s stock were exchanged, compared to its average volume of 1,873,181. The firm has a market capitalization of $33.16 billion, a P/E ratio of 18.40, a price-to-earnings-growth ratio of 2.37 and a beta of 0.34. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.92 and a current ratio of 0.99. The business’s 50 day moving average is $92.05 and its 200-day moving average is $91.16. Consolidated Edison, Inc. has a 12-month low of $80.46 and a 12-month high of $98.85.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $2.15 EPS for the quarter, topping the consensus estimate of $1.89 by $0.26. The company had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.40 billion. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.43%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.83 earnings per share. As a group, analysts anticipate that Consolidated Edison, Inc. will post 5.32 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.46%. Consolidated Edison’s dividend payout ratio (DPR) is currently 63.72%.

Wall Street Analysts Forecast Growth

ED has been the topic of a number of recent research reports. Scotiabank dropped their target price on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a report on Monday, April 22nd. Argus raised Consolidated Edison to a “strong-buy” rating in a report on Friday, June 7th. Barclays lowered Consolidated Edison from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $97.00 to $92.00 in a report on Monday. Mizuho upped their price objective on Consolidated Edison from $93.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Finally, Morgan Stanley dropped their price objective on Consolidated Edison from $80.00 to $76.00 and set an “underweight” rating on the stock in a report on Monday, June 24th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Consolidated Edison has an average rating of “Hold” and a consensus price target of $89.04.

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.