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

Ausbil Investment Management Ltd bought a new position in Consolidated Edison, Inc. (NYSE:ED) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,080 shares of the utilities provider’s stock, valued at approximately $529,000.

Several other large investors also recently made changes to their positions in the business. Clean Energy Transition LLP increased its stake in Consolidated Edison by 227.9% in the second quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider’s stock valued at $80,259,000 after acquiring an additional 623,787 shares during the period. International Assets Investment Management LLC boosted its holdings in Consolidated Edison by 10,262.1% during the third quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider’s stock worth $57,641,000 after buying an additional 548,204 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Consolidated Edison by 302.3% during the second 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. AMF Tjanstepension AB increased its holdings in shares of Consolidated Edison by 243.2% in the second 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 in the last quarter. Finally, Swedbank AB bought a new position in Consolidated Edison in the first quarter valued at approximately $30,515,000. Institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Scotiabank raised their target price on shares of Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company upped their price target on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Jefferies Financial Group assumed coverage on shares of Consolidated Edison in a research note on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price objective on the stock. Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and upped their target price for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Finally, Barclays lifted their price target on shares of Consolidated Edison from $98.00 to $104.00 and gave the company an “underweight” rating in a report on Monday. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $98.73.

Consolidated Edison Stock Down 0.1 %

Shares of NYSE:ED traded down $0.09 during trading on Thursday, reaching $107.31. 204,126 shares of the stock were exchanged, compared to its average volume of 1,828,979. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97. The stock has a fifty day moving average of $103.10 and a two-hundred day moving average of $96.98. Consolidated Edison, Inc. has a 1-year low of $85.85 and a 1-year high of $107.75. The firm has a market cap of $37.11 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 3.46 and a beta of 0.36.

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

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio is 63.72%.

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.