PDS Planning Inc Increases Position in Consolidated Edison, Inc. (NYSE:ED)

PDS Planning Inc increased its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 6.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,740 shares of the utilities provider’s stock after purchasing an additional 168 shares during the quarter. PDS Planning Inc’s holdings in Consolidated Edison were worth $285,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC boosted its holdings in Consolidated Edison by 10,302.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider’s stock valued at $2,546,000 after acquiring an additional 24,211 shares during the period. Sei Investments Co. increased its stake in Consolidated Edison by 57.4% during the 1st quarter. Sei Investments Co. now owns 244,404 shares of the utilities provider’s stock worth $22,193,000 after buying an additional 89,080 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Consolidated Edison by 153.9% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 245,802 shares of the utilities provider’s stock worth $22,321,000 after buying an additional 148,988 shares in the last quarter. Mizuho Markets Americas LLC boosted its position in Consolidated Edison by 121.1% in the 1st quarter. Mizuho Markets Americas LLC now owns 113,675 shares of the utilities provider’s stock valued at $10,323,000 after buying an additional 62,260 shares during the period. Finally, Plato Investment Management Ltd boosted its position in Consolidated Edison by 17,683.9% in the 1st quarter. Plato Investment Management Ltd now owns 9,959 shares of the utilities provider’s stock valued at $904,000 after buying an additional 9,903 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Down 0.8 %

ED stock opened at $99.15 on Tuesday. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08. The company has a market cap of $34.32 billion, a P/E ratio of 19.29, a P/E/G ratio of 3.43 and a beta of 0.36. The company’s 50-day moving average price is $103.51 and its 200 day moving average price is $97.79.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a yield of 3.35%. Consolidated Edison’s payout ratio is 64.59%.

Wall Street Analyst Weigh In

ED has been the topic of several analyst reports. Wells Fargo & Company increased their price objective 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. Jefferies Financial Group initiated coverage on Consolidated Edison in a research note on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price objective for the company. Bank of America upped their target price on shares of Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Barclays boosted their target price on shares of Consolidated Edison from $98.00 to $104.00 and gave the stock an “underweight” rating in a research note on Monday, October 21st. Finally, UBS Group raised their price objective on shares of Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Four analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.