Bank of Nova Scotia Has $3.14 Million Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Bank of Nova Scotia cut its position in Consolidated Edison, Inc. (NYSE:EDGet Rating) by 32.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,029 shares of the utilities provider’s stock after selling 15,640 shares during the period. Bank of Nova Scotia’s holdings in Consolidated Edison were worth $3,142,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Consolidated Edison by 18.0% during the first quarter. Vanguard Group Inc. now owns 41,690,313 shares of the utilities provider’s stock worth $3,947,238,000 after acquiring an additional 6,349,773 shares during the period. State Street Corp raised its holdings in shares of Consolidated Edison by 4.4% during the first quarter. State Street Corp now owns 28,573,910 shares of the utilities provider’s stock worth $2,705,378,000 after acquiring an additional 1,209,292 shares during the period. California Public Employees Retirement System raised its holdings in shares of Consolidated Edison by 0.3% during the first quarter. California Public Employees Retirement System now owns 2,656,978 shares of the utilities provider’s stock worth $251,563,000 after acquiring an additional 7,098 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Consolidated Edison by 3.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,909,853 shares of the utilities provider’s stock worth $180,825,000 after acquiring an additional 65,145 shares during the period. Finally, Swiss National Bank raised its holdings in shares of Consolidated Edison by 14.1% during the first quarter. Swiss National Bank now owns 1,532,169 shares of the utilities provider’s stock worth $145,066,000 after acquiring an additional 188,900 shares during the period. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ED shares. Mizuho dropped their price objective on shares of Consolidated Edison from $99.00 to $91.00 and set a “buy” rating on the stock in a report on Monday, October 3rd. Credit Suisse Group decreased their target price on shares of Consolidated Edison from $94.00 to $82.00 in a research report on Monday, October 10th. KeyCorp decreased their price objective on shares of Consolidated Edison from $75.00 to $69.00 and set an “underweight” rating for the company in a research report on Thursday, October 20th. Wells Fargo & Company lifted their price objective on shares of Consolidated Edison from $84.00 to $87.00 and gave the company an “underweight” rating in a research report on Friday, November 4th. Finally, StockNews.com assumed coverage on shares of Consolidated Edison in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Consolidated Edison has a consensus rating of “Hold” and an average target price of $82.30.

Consolidated Edison Stock Performance

Shares of ED stock opened at $89.70 on Wednesday. The company has a market capitalization of $31.83 billion, a price-to-earnings ratio of 18.81, a PEG ratio of 9.83 and a beta of 0.31. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.75 and a current ratio of 0.83. The company has a 50-day simple moving average of $89.67 and a 200 day simple moving average of $93.53. Consolidated Edison, Inc. has a 52 week low of $76.42 and a 52 week high of $102.21.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 16th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 3.52%. The ex-dividend date is Tuesday, November 15th. Consolidated Edison’s dividend payout ratio (DPR) is 66.25%.

About Consolidated Edison

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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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