Consolidated Edison, Inc. (NYSE:ED) Holdings Lifted by Forsta AP Fonden

Forsta AP Fonden boosted its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 14.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 141,100 shares of the utilities provider’s stock after buying an additional 17,900 shares during the quarter. Forsta AP Fonden’s holdings in Consolidated Edison were worth $14,693,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Clean Energy Transition LLP boosted its position in shares of Consolidated Edison by 227.9% in the 2nd 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. International Assets Investment Management LLC boosted its position in shares of 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 valued at $57,641,000 after purchasing an additional 548,204 shares during the period. Acadian Asset Management LLC boosted its position in shares of Consolidated Edison by 302.3% in the 2nd 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. Assenagon Asset Management S.A. lifted its stake in Consolidated Edison by 4,020.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 406,859 shares of the utilities provider’s stock worth $42,366,000 after acquiring an additional 396,985 shares in the last quarter. Finally, AMF Tjanstepension AB boosted its position in Consolidated Edison by 243.2% during the 2nd quarter. AMF Tjanstepension AB now owns 497,982 shares of the utilities provider’s stock worth $44,564,000 after acquiring an additional 352,903 shares during the period. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Down 2.2 %

ED opened at $104.60 on Friday. The business has a 50 day moving average price of $103.35 and a 200 day moving average price of $97.19. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04. The firm has a market cap of $36.21 billion, a P/E ratio of 20.35, a price-to-earnings-growth ratio of 3.57 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.08 billion. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. During the same period in the previous year, the business posted $0.61 EPS. Research analysts forecast that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm 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 $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.17%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio is currently 64.59%.

Analysts Set New Price Targets

A number of brokerages have commented on ED. Bank of America raised their price objective on Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Morgan Stanley raised their price objective on Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. Guggenheim raised their price objective on Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Wells Fargo & Company raised their price objective on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Finally, Scotiabank raised their price objective on 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 research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $98.73.

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.