Skandinaviska Enskilda Banken AB publ increased its position in Consolidated Edison, Inc. (NYSE:ED – Free Report) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 63,041 shares of the utilities provider’s stock after purchasing an additional 942 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Consolidated Edison were worth $5,392,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. IHT Wealth Management LLC grew its stake in Consolidated Edison by 1.4% in the 4th quarter. IHT Wealth Management LLC now owns 7,941 shares of the utilities provider’s stock valued at $757,000 after buying an additional 110 shares during the last quarter. Lido Advisors LLC grew its position in shares of Consolidated Edison by 0.3% during the 1st quarter. Lido Advisors LLC now owns 43,881 shares of the utilities provider’s stock worth $4,198,000 after purchasing an additional 113 shares in the last quarter. Kistler Tiffany Companies LLC grew its position in shares of Consolidated Edison by 2.4% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 4,916 shares of the utilities provider’s stock worth $444,000 after purchasing an additional 115 shares in the last quarter. Retirement Group LLC grew its position in shares of Consolidated Edison by 74.8% during the 4th quarter. Retirement Group LLC now owns 271 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 116 shares in the last quarter. Finally, Brinker Capital Investments LLC grew its position in shares of Consolidated Edison by 1.2% during the 1st quarter. Brinker Capital Investments LLC now owns 9,592 shares of the utilities provider’s stock worth $908,000 after purchasing an additional 117 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Consolidated Edison from $84.00 to $87.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 29th. Barclays decreased their price objective on shares of Consolidated Edison from $88.00 to $86.00 and set an “equal weight” rating on the stock in a research note on Monday, January 22nd. Wells Fargo & Company raised shares of Consolidated Edison from an “underweight” rating to an “equal weight” rating and decreased their price objective for the company from $96.00 to $94.00 in a research note on Tuesday, October 17th. KeyCorp raised shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research note on Thursday, January 4th. Finally, Morgan Stanley lifted their price objective on shares of Consolidated Edison from $71.00 to $73.00 and gave the company an “underweight” rating in a research note on Tuesday, November 21st. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Consolidated Edison has a consensus rating of “Hold” and an average target price of $88.46.
Consolidated Edison Stock Performance
Shares of Consolidated Edison stock opened at $89.47 on Tuesday. Consolidated Edison, Inc. has a fifty-two week low of $80.46 and a fifty-two week high of $100.92. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.98 and a quick ratio of 0.91. The firm has a market capitalization of $30.89 billion, a P/E ratio of 13.25, a P/E/G ratio of 8.42 and a beta of 0.37. The company’s 50 day moving average price is $90.91 and its two-hundred day moving average price is $89.88.
Consolidated Edison Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Wednesday, February 14th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend is Tuesday, February 13th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.81. Consolidated Edison’s payout ratio is 48.00%.
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 3.6 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.
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