Mn Services Vermogensbeheer B.V. Has $12.13 Million Stake in Consolidated Edison, Inc. (NYSE:ED)

Mn Services Vermogensbeheer B.V. trimmed its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 2.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,700 shares of the utilities provider’s stock after selling 3,900 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Consolidated Edison were worth $12,134,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. McAdam LLC grew its stake in shares of Consolidated Edison by 6.5% in the second quarter. McAdam LLC now owns 2,585 shares of the utilities provider’s stock worth $231,000 after acquiring an additional 158 shares during the last quarter. &PARTNERS bought a new stake in Consolidated Edison in the 2nd quarter valued at $393,000. Cultivar Capital Inc. acquired a new stake in Consolidated Edison in the 2nd quarter worth $54,000. Hennessy Advisors Inc. increased its holdings in shares of Consolidated Edison by 12.3% during the 2nd quarter. Hennessy Advisors Inc. now owns 144,036 shares of the utilities provider’s stock worth $12,880,000 after purchasing an additional 15,800 shares during the period. Finally, Rockland Trust Co. raised its position in shares of Consolidated Edison by 4.3% during the second quarter. Rockland Trust Co. now owns 104,139 shares of the utilities provider’s stock valued at $9,312,000 after buying an additional 4,324 shares during the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

Shares of NYSE:ED traded down $0.07 on Friday, hitting $100.60. The stock had a trading volume of 1,620,024 shares, compared to its average volume of 1,883,327. The firm’s 50 day moving average price is $94.83 and its 200-day moving average price is $92.54. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.92 and a current ratio of 0.99. Consolidated Edison, Inc. has a twelve month low of $80.46 and a twelve month high of $105.99. The company has a market capitalization of $34.79 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 2.56 and a beta of 0.34.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.08 billion. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.70%. During the same period last year, the firm posted $0.61 EPS. On average, equities research analysts predict that Consolidated Edison, Inc. will post 5.31 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Wednesday, August 14th. Consolidated Edison’s payout ratio is currently 63.72%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Barclays lifted their target price on Consolidated Edison from $92.00 to $98.00 and gave the stock an “underweight” rating in a research report on Monday, August 5th. Argus raised Consolidated Edison to a “strong-buy” rating in a report on Friday, June 7th. Guggenheim boosted their price objective on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Mizuho upped their target price on Consolidated Edison from $93.00 to $95.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Finally, Scotiabank lifted their price target on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research note on Tuesday. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $92.65.

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.