Intact Investment Management Inc. Makes New Investment in Consolidated Edison, Inc. (NYSE:ED)

Intact Investment Management Inc. purchased a new position in Consolidated Edison, Inc. (NYSE:ED) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 720 shares of the utilities provider’s stock, valued at approximately $75,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ED. Retirement Planning Co of New England Inc. increased its stake in Consolidated Edison by 4.2% in the 2nd quarter. Retirement Planning Co of New England Inc. now owns 2,501 shares of the utilities provider’s stock worth $224,000 after purchasing an additional 100 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Consolidated Edison by 13.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 868 shares of the utilities provider’s stock worth $78,000 after purchasing an additional 100 shares in the last quarter. Brookstone Capital Management increased its stake in Consolidated Edison by 0.6% in the 3rd quarter. Brookstone Capital Management now owns 24,173 shares of the utilities provider’s stock worth $2,517,000 after purchasing an additional 136 shares in the last quarter. Checchi Capital Advisers LLC increased its stake in Consolidated Edison by 2.6% in the 2nd quarter. Checchi Capital Advisers LLC now owns 5,627 shares of the utilities provider’s stock worth $503,000 after purchasing an additional 141 shares in the last quarter. Finally, Center For Asset Management LLC increased its stake in Consolidated Edison by 3.5% in the 2nd quarter. Center For Asset Management LLC now owns 4,358 shares of the utilities provider’s stock worth $390,000 after purchasing an additional 147 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Up 0.7 %

Shares of Consolidated Edison stock opened at $99.82 on Wednesday. The firm has a market cap of $34.55 billion, a price-to-earnings ratio of 19.42, a P/E/G ratio of 3.37 and a beta of 0.36. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97. Consolidated Edison, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75. The stock has a 50-day simple moving average of $103.51 and a 200-day simple moving average of $97.85.

Consolidated Edison Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.32 annualized dividend and a yield of 3.33%. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.59%.

Analyst Ratings Changes

ED has been the topic of a number of analyst reports. Barclays lifted their price target on Consolidated Edison from $98.00 to $104.00 and gave the stock an “underweight” rating in a research note on Monday, October 21st. Guggenheim lifted their target price on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Wells Fargo & Company lifted their target price on Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. UBS Group lifted their target price on Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Finally, Bank of America lifted their target price on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and an average price target of $98.73.

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.