Cwm LLC Has $24.96 Million Stake in Consolidated Edison, Inc. (NYSE:ED)

Cwm LLC decreased its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 239,732 shares of the utilities provider’s stock after selling 8,612 shares during the quarter. Cwm LLC owned about 0.07% of Consolidated Edison worth $24,963,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. ProShare Advisors LLC grew its position in shares of Consolidated Edison by 6.6% during the 1st quarter. ProShare Advisors LLC now owns 2,000,741 shares of the utilities provider’s stock worth $181,687,000 after buying an additional 123,654 shares during the period. Hsbc Holdings PLC grew its position in shares of Consolidated Edison by 0.8% during the 2nd quarter. Hsbc Holdings PLC now owns 1,502,523 shares of the utilities provider’s stock worth $134,323,000 after buying an additional 11,785 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Consolidated Edison by 11.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,273,115 shares of the utilities provider’s stock worth $113,845,000 after buying an additional 125,859 shares during the period. Clean Energy Transition LLP grew its position in shares of Consolidated Edison by 227.9% during the 2nd quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider’s stock worth $80,259,000 after buying an additional 623,787 shares during the period. Finally, BNP Paribas Financial Markets grew its position in shares of Consolidated Edison by 14.6% during the 1st quarter. BNP Paribas Financial Markets now owns 720,573 shares of the utilities provider’s stock worth $65,435,000 after buying an additional 91,559 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Ratings Changes

ED has been the topic of several research analyst reports. Jefferies Financial Group initiated coverage on Consolidated Edison in a research note on Wednesday. They set a “hold” rating and a $108.00 price objective on the stock. Bank of America lifted their price objective on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a report on Monday, August 5th. UBS Group increased their target price on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Wells Fargo & Company lifted their price target on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Finally, Scotiabank increased their price objective on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, August 20th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $94.96.

Consolidated Edison Price Performance

NYSE:ED opened at $101.58 on Friday. Consolidated Edison, Inc. has a 1-year low of $85.15 and a 1-year high of $105.99. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08. The firm has a fifty day simple moving average of $102.31 and a 200 day simple moving average of $95.92. The stock has a market capitalization of $35.13 billion, a PE ratio of 19.50, a P/E/G ratio of 3.52 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period last year, the business earned $0.61 earnings per share. On average, research analysts expect that Consolidated Edison, Inc. will post 5.3 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Wednesday, August 14th were issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend was Wednesday, August 14th. Consolidated Edison’s dividend payout ratio is 63.72%.

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.