Consolidated Edison, Inc. (NYSE:ED) Stake Increased by Pacer Advisors Inc.

Pacer Advisors Inc. increased its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 33.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 63,864 shares of the utilities provider’s stock after purchasing an additional 16,139 shares during the quarter. Pacer Advisors Inc.’s holdings in Consolidated Edison were worth $6,650,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Retirement Planning Co of New England Inc. grew its stake in Consolidated Edison by 4.2% during the 2nd quarter. Retirement Planning Co of New England Inc. now owns 2,501 shares of the utilities provider’s stock valued at $224,000 after acquiring an additional 100 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Consolidated Edison by 13.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 868 shares of the utilities provider’s stock valued at $78,000 after buying an additional 100 shares during the period. Brookstone Capital Management lifted its position in Consolidated Edison by 0.6% in the 3rd quarter. Brookstone Capital Management now owns 24,173 shares of the utilities provider’s stock worth $2,517,000 after buying an additional 136 shares in the last quarter. Checchi Capital Advisers LLC boosted its stake in shares of Consolidated Edison by 2.6% during the 2nd quarter. Checchi Capital Advisers LLC now owns 5,627 shares of the utilities provider’s stock valued at $503,000 after buying an additional 141 shares during the period. Finally, Center For Asset Management LLC grew its holdings in shares of Consolidated Edison by 3.5% during the 2nd quarter. Center For Asset Management LLC now owns 4,358 shares of the utilities provider’s stock valued at $390,000 after acquiring an additional 147 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ED has been the subject of a number of research reports. Scotiabank lifted their price objective on Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research report on Tuesday, August 20th. UBS Group boosted their price target on Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Jefferies Financial Group assumed coverage on shares of Consolidated Edison in a research report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price objective on the stock. Bank of America boosted their target price on shares of Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Wells Fargo & Company raised their price target on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Consolidated Edison presently has an average rating of “Hold” and a consensus target price of $98.19.

Consolidated Edison Stock Down 0.3 %

Shares of ED stock opened at $98.36 on Friday. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The firm has a market cap of $34.07 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 3.32 and a beta of 0.36. The stock has a 50 day moving average of $102.01 and a 200-day moving average of $98.08.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, beating the consensus estimate of $1.56 by $0.12. The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. On average, equities analysts predict that Consolidated Edison, Inc. will post 5.33 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.83 per share. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 annualized dividend and a yield of 3.38%. Consolidated Edison’s dividend payout ratio is 62.52%.

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.