Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Forsta AP Fonden

Forsta AP Fonden lowered its holdings in Consolidated Edison, Inc. (NYSE:ED) by 15.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 123,200 shares of the utilities provider’s stock after selling 22,400 shares during the period. Forsta AP Fonden’s holdings in Consolidated Edison were worth $11,017,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Principal Securities Inc. acquired a new stake in Consolidated Edison in the fourth quarter worth $411,000. Dimensional Fund Advisors LP increased its holdings in shares of Consolidated Edison by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,126,595 shares of the utilities provider’s stock worth $102,484,000 after acquiring an additional 6,176 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Consolidated Edison by 34.1% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,742 shares of the utilities provider’s stock worth $1,250,000 after acquiring an additional 3,494 shares during the period. Ieq Capital LLC lifted its position in Consolidated Edison by 5.9% in the 4th quarter. Ieq Capital LLC now owns 10,505 shares of the utilities provider’s stock valued at $956,000 after purchasing an additional 585 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Consolidated Edison by 3.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 418,244 shares of the utilities provider’s stock valued at $38,897,000 after purchasing an additional 12,953 shares during the period. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

Shares of ED opened at $103.38 on Friday. Consolidated Edison, Inc. has a 12-month low of $80.46 and a 12-month high of $105.99. The stock has a market capitalization of $35.75 billion, a P/E ratio of 19.84, a P/E/G ratio of 3.49 and a beta of 0.36. The firm’s 50 day moving average is $98.42 and its 200-day moving average is $93.92. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.08 billion. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. During the same quarter in the prior year, the firm earned $0.61 EPS. Equities research analysts anticipate that Consolidated Edison, Inc. will post 5.31 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Wednesday, August 14th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $3.32 dividend on an annualized basis and a yield of 3.21%. Consolidated Edison’s dividend payout ratio is currently 63.72%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Bank of America raised their price target on shares of Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Argus raised Consolidated Edison to a “strong-buy” rating in a research note on Friday, June 7th. Barclays increased their price target on Consolidated Edison from $92.00 to $98.00 and gave the stock an “underweight” rating in a research note on Monday, August 5th. UBS Group lifted their price objective on shares of Consolidated Edison from $92.00 to $96.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Finally, Wells Fargo & Company increased their target price on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $92.65.

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.