Consolidated Edison, Inc. (NYSE:ED) Stock Holdings Reduced by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lowered its position in Consolidated Edison, Inc. (NYSE:EDGet Rating) by 31.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 295,682 shares of the utilities provider’s stock after selling 132,564 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.08% of Consolidated Edison worth $27,995,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Consolidated Edison by 20.1% during the 4th quarter. BlackRock Inc. now owns 45,413,132 shares of the utilities provider’s stock worth $3,874,649,000 after acquiring an additional 7,590,978 shares in the last quarter. State Street Corp boosted its stake in shares of Consolidated Edison by 1.9% during the 4th quarter. State Street Corp now owns 27,364,618 shares of the utilities provider’s stock worth $2,334,749,000 after acquiring an additional 505,539 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Consolidated Edison by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 6,872,627 shares of the utilities provider’s stock worth $585,421,000 after acquiring an additional 204,193 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Consolidated Edison by 2.7% during the 4th quarter. Legal & General Group Plc now owns 6,351,019 shares of the utilities provider’s stock worth $541,869,000 after acquiring an additional 168,678 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Consolidated Edison by 0.8% during the 4th quarter. Invesco Ltd. now owns 4,660,605 shares of the utilities provider’s stock worth $397,643,000 after acquiring an additional 38,572 shares in the last quarter. Hedge funds and other institutional investors own 64.76% of the company’s stock.

Analyst Ratings Changes

ED has been the subject of several recent analyst reports. Morgan Stanley increased their target price on Consolidated Edison from $77.00 to $84.00 and gave the company an “underweight” rating in a research note on Tuesday, August 23rd. Guggenheim upgraded Consolidated Edison from a “sell” rating to a “neutral” rating and set a $94.00 target price for the company in a research note on Monday, May 23rd. Credit Suisse Group increased their target price on Consolidated Edison from $92.00 to $94.00 and gave the company a “neutral” rating in a research note on Monday, August 8th. KeyCorp increased their target price on Consolidated Edison from $72.00 to $75.00 and gave the company an “underweight” rating in a research note on Tuesday, July 19th. Finally, Mizuho cut their price target on Consolidated Edison from $100.00 to $99.00 and set a “buy” rating for the company in a report on Monday, June 27th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Consolidated Edison presently has an average rating of “Hold” and an average target price of $86.00.

Consolidated Edison Trading Down 0.6 %

Shares of ED opened at $100.66 on Friday. Consolidated Edison, Inc. has a 1 year low of $71.52 and a 1 year high of $101.57. The company has a current ratio of 0.88, a quick ratio of 0.82 and a debt-to-equity ratio of 1.08. The stock has a 50 day simple moving average of $96.83 and a 200-day simple moving average of $94.57. The stock has a market cap of $35.69 billion, a PE ratio of 22.03, a PEG ratio of 10.90 and a beta of 0.25.

Consolidated Edison (NYSE:EDGet Rating) last released its quarterly earnings results on Thursday, August 4th. The utilities provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.09. Consolidated Edison had a return on equity of 7.83% and a net margin of 11.16%. During the same quarter last year, the firm posted $0.53 EPS. On average, sell-side analysts predict that Consolidated Edison, Inc. will post 4.48 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 17th will be given a dividend of $0.79 per share. The ex-dividend date is Tuesday, August 16th. This represents a $3.16 dividend on an annualized basis and a yield of 3.14%. Consolidated Edison’s dividend payout ratio (DPR) is presently 69.15%.

Consolidated Edison Company Profile

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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 3.5 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 1,555 customers in parts of Manhattan.

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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